Notable & Quotable
Wednesday, April 30, 2014 1:00 AM
The U.S. Postal Service faces a leadership succession problem due to pending retirements among executives, but many of those in line to take their places aren't far from retirement eligibility themselves, a report issued Monday said, according to The Washington Post.
The postal inspector general's office said that as of 2012, 35 percent of postal executives already were retirement-eligible and that the number will grow to 49 percent in 2015.
However, it added, "about 30 percent of potential successors are eligible to retire now, and 73 percent will be eligible in the next seven years."
Postal employees fall under the same two major retirement systems as other federal employees despite the self-funding nature of the Postal Service. Those programs allow for retirement when an individual reaches one of several combinations of age and years of service.