Postal Service Employee Benefits
Employment with the U.S. Postal Service may be appealing to some people, as it is a government job with many benefits including health insurance, pensions, life insurance and overtime pay. Careers with the Postal Service include mail carriers, mail processing, sales and marketing.
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Compensation
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Postal Service salaries vary by job duty. According to PayScale, Postal Service mail carriers earned a median salary of $50,888 in 2009. Mail processing clerks earned a median salary of $50,914. The highest paying jobs in the Postal Service are those of postmasters and mail superintendents, who earned a median salary of $70,541 in 2009.
Most Postal Service employees receive regular compensation increases. Additionally, Postal Service employees earn more for working night shifts, Sundays and any overtime.
Insurance
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The Postal Service offers health insurance through the Federal Employees Health Benefits (FEHB) program. The government pays most of the premiums for its workers' insurance policies. Postal Service employees also receive life insurance policies through the Federal Employees' Group Life Insurance (FEGLI) program.
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Time Off
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The Postal Service offers 10 paid holidays per year to employees. Employees are also entitled to paid vacations. For the first three years a person is employed full time by the Postal Service, he receives 13 days of paid vacation. After the three-year mark, vacation is increased to 20 paid days. After 15 years of service, employees are given up to 26 days of vacation. Postal Service employees also receive 13 days of paid sick leave.
Pension
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Unlike many private companies, the Postal Service still offers a traditional pension to its employees through the federal retirement program administered through the U.S. Office of Personnel Management.
Savings Plans
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The Postal Service offers two savings plans. The first is a traditional Flexible Spending Account, which allows employees to save money tax-free in order to pay for health care services and day care. Employees are eligible for this plan after one year of service. The Postal Service also offers a Thrift Savings Plan, a retirement plan in which employees may save money and receive up to 5 percent in matching contributions from the Postal Service.
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References
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