The Postal Service offers a number of ways to help their employees assist each other and transition from the workforce to retirement. Postal employees participate in the Thrift Savings Plan (TSP) among other avenues by which they can save and plan for retirement. One of these ways is the Annual Leave Sharing.
The Postal Service has an annual leave exchange program of which employees may participate. In addition to the annual leave exchange program, employees have the benefit of an Annual Leave Sharing (ALS) program. The leave sharing program provides employees with the option of donating their annual leave to other employees under certain conditions. Many employees find themselves in the use-or-lose category at the end of the year because they have too much leave to carryover, violating the maximum carryover limits set under the Constructive Receipt provision of the Internal Revenue Service for the Postal Service.
The leave sharing program allows employees to both donate and receive leave from other employees who are career non-bargaining and bargaining unit Postal Employees. The program is also available under certain collective bargaining agreements to non-career transitional employees.
The leave sharing program assists many employees with not falling into an LWOP category that could create a financial burden on them and their families. The leave sharing program is also effective in that it is not a leave borrowing program where the leave must be paid back still placing a burden on the employee who is borrowing the leave.
Such leave sharing programs are not only a benefit to employees who need to borrow leave so that they can remain in a pay status, but engenders a team building mechanism for the organization. In addition, leave sharing programs benefit the organization by showing an efficient utilization of leave benefits. Instead of calculating the amount of annual leave that is forfeited because of use-or-lose, it rather shows how leave is reinvested into the organization’s greatest asset- the workforce.
Investing in employees is an investment in the retirement readiness of the workforce which is an investment in the future of our nation.
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