USPS Employee Benefits and Previliages – Complete Details
USPS stands for the United States Postal Service, an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states.
With the largest retail network (even more than Walmart & McDonald’s), the postal service believes that their employees are their most important asset. Cause of, US Postal Services has pledged to take care of employees, rewarding them for their hard work and dedication.
So, USPS offers an impressive range of employee benefits, privileges, and discounts which helps employees to entail physical, mental, and emotional well-being.
So, if you’re looking for a job at USPS or working with USPS, read below what employee benefits at USPS, you can enjoy as a part of it?
USPS Employee Benefits – Compensation & Benefits at US Postal Service
US Postal Service has pledged to take care of employees, rewarding them for their hard work and dedication. and they do so by offering an impressive range of employee benefits, privileges, and discounts which helps employees to entail physical, mental, and emotional well-being.
USPS Employee Benefits, discounts, compensations, and other plans designed specially to help eligible to make the best decisions for themselves and their situations.
USPS Job Benefits includes base pay and bonus, benefits, retirement savings, paid time off, stock and perks as well as health insurance, income protection, educational scholarships, and more to meets a diverse array of needs; health care, retirement security, and personal interests.
USPS Employee Benefits ensure that employees thrive in every aspect of life
Here is a brief account of all employee benefits packages, perks, and discounts offered by the US Postal Service –
- Compensation – In addition to competitive basic pay rates and regular salary increase, most employees may also receive overtime pay, night shift differential, and Sunday premium pay depending on the type of job held.
- Health Insurance – The Postal Service participates in the Federal Employees Health Benefits (FEHB) Program, which provides excellent coverage and flexibility with most of the cost paid by the Postal Service. There are many plans available, including Fee-For-Service, Health Maintenance Organizations (HMOs), and High Deductible & Consumer-Driven Health Plans. Employee premium contributions are not subject to most taxes, making health insurance even more affordable.
- Dental and Vision Insurance – Employees are eligible to participate in the Federal Employees Dental and Vision Insurance Program. While employees pay the full cost, this group insurance offers excellent coverage at rates made even more affordable because premium contributions are not subject to taxes. Life
The Postal Service offers coverage through the Federal Employees’ Group Life Insurance (FEGLI) Program through which the cost of Basic coverage is fully paid by the Postal Service, with the option to purchase additional coverage through payroll deductions
- Long-Term Care Insurance – Employees may enroll in the Federal Long-Term Care Insurance Program (FLTCIP), which ensures the costs of receiving long-term care like a nursing home or assisted living which typically is not covered by health insurance or Medicare.
- Flexible Spending Accounts – Career employees may participate in the Flexible Spending Accounts (FSA) Program after one year of service. Tax-free FSA contributions can be used to cover most out-of-pocket health care and dependent care (daycare expenses).
- Thrift Savings Plan
Career postal employees may contribute to the Thrift Savings Plan (TSP), similar to 401(k) retirement savings plans offered by private-sector employers. Employees contribute to TSP on a tax-deferred basis and may receive automatic and matching contributions (up to 5 percent of pay) from the Postal Service.
The Postal Service participates in the federal retirement program providing a defined benefit (pension), as well as disability coverage. Eligibility is determined by your age and number of years of creditable service
- Social Security & Medicare
Newly hired postal employees are covered under Social Security and Medicare
- Commuter Program
This program offers tax-free purchase of public transportation and parking, up to IRS maximums, to reduce out-of-pocket costs for employees who choose to participate.
- Career Development & Training
The Postal Service offers a learning environment that reinforces success through training initiatives that allow employees to improve basic operational knowledge and gain leadership skills. Through this program, Executive-level development is provided through a comprehensive multi-level program designed for those executives meeting certain high-performance criteria
- Leave – Paid Time Off
- US Postal Service offers generous annual (vacation) and sick leave – 13 days of annual leave per year for the first 3 years, increasing to 20 days per year after 3 years of service, and to 26 days per year after 15 years of service.
- In addition, full-time employees earn 4 hours per pay period as insurance against loss of income due to illness or accident. Annual and sick leave is prorated based on paid hours for part-time employees.
- Postmasters, supervisory and managerial employees, and non-career employees converted to those positions, who have no prior federal or USPS service that is creditable toward the leave computation date, receive 10 days of annual leave per year for the first 5 years, increasing to 15 days per year after 5 years, and to 20 days per year after 15 years.
- In addition, employees earn 3 hours per pay period as insurance against loss of income due to illness or accident. Annual and sick leave is prorated based on paid hours for part-time employees
US Postal Service observes 10 holidays each year
Overall, employee benefits at US Postal Service go beyond the common benefits compares to others in the field. US Postal Service employee benefits aim to enhance employee’s personal & financial security through handsome benefits programs and packages.
So, if you are thinking to build up a career at US Postal Service, make sure to read all USPS Employee Benefits and Discounts offered by the US Postal Service.
Hopefully, you like the available information on US Postal Service Employee Benefits.
If you have any questions or queries related to employee benefits at the US Postal Service? Drop them into the below comment section. Thank you!