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Maximum Annual Amount Allowed Has Been Raised from $720 to
81,000 by Congress.
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EMPLOYEES
CONTRIBUTE HIGHER RATE TO FUND
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Assistant Postmasters, Clerks, City and Rural Carriers, and Janitors
Included.
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In accordance with a law passed by the last congress, the maximum pension allowed employees in the post-office service throughout the United States has been increased from $720 to $1,000 per year. The amount varies, according to length of employment.
Assistant postmasters, postoffice clerks, city and rural mail carriers, and janitors of postoffice buildings are included in the list of employees coming under the new arrangement.
Pension Rate Raised.
The rate, which the employees subject to the pension increase are obliged to pay toward the pension fund, has been increased from 2.5 to 3.5 per cent of their annual salaries, in order to make the raise in the pension amount possible. Thus the employees themselves are paying for the pension raise by means of the increased assessment rate. The payment of the pension fund assessment is mandatory upon all of the post-office employees coming under the provision.
Retiring Age Varies.
Assistant postmasters are eligible to retire from active work and receive a pension upon reaching the age of 70 years, and having been in the service for 25 years or longer. Postoffice clerks, city and rural mail carriers, and janitors of postoffice buildings must retire at the age of 65 years, but may be retained for a period of two more years, provided the local postmaster deems such continuance profitable for the service.
Brown County Journal
August 20, 1926
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