information by using this toggle switch. DeJoy said he does not have a specific long-term target in mind for its workforce, speculating he could potentially grow the agency by 100,000 employees to meet growing package needs. These cookies are not used in a way that constitutes a sale of your data under the CCPA. technologies for the following purposes: We do not allow you to opt-out of our certain cookies, as they are necessary to The House Oversight and Reform Committee, on a bipartisan vote, passed HR 1307, The Vote by Mail Tracking Act. These impacts are reflected as a one-time, non-cash benefit of $57.0 billion to net income for the year. Additionally, you may contact our legal Marketing Mail revenue increased $1.4 billion, or 9.7 percent, on volume growth of 894 million pieces, or 1.4 percent. The Postal Service has announced a limited early retirement opportunity effective April 30 for certain non-bargaining unit employees at headquarters, headquarters-related, area and district. For example, if a CSRS or a CSRS Offset employee retired on Jan. 4, 2022, then the employees retirement becomes effective on Feb. 1, 2022, and the retired employees first CSRS annuity check will be dated March 1, 2022. However, there are different . Highway transportation expense increased $696 million, or 12.8 percent, partially due to higher average diesel fuel costs for long-haul transportation as a result of inflation. can choose not to allow certain types of cookies, which may impact your experience of the site and the The Postal Service had an adjusted loss of $473 million for the year, compared to adjusted income of $1.5 billion for the same period last year. September 2021 Mail truck fire in Wisconsin ensure the proper functioning of our postmasters CanadaPostNews.com December 2017 This news release includes controllable loss which is not calculated and presented in accordance with GAAP. FERS employees (including Trans FERS employees) are treated differently with respect to the effective retirement date and the issuance of their first FERS annuity check (and CSRS annuity check in the case of Trans FERS employees). A memo from the State Attorneys Office explains that the dogs owner tried to surrender them twice, including 10 days before the attack Today, President Biden nominated Julie Su to serve as Secretary of the Department of Labor. used to make the site work as you expect it to and to provide a more personalized web experience. If you are covered by FERS, you will only earn 1% of your salary as an annuity for each year worked (e.g. We also use cookies to personalize your experience on our websites, including by Postal Service today announced its financial results for the 2022 fiscal year ended September 30. information. cookie banner and remembering your settings, to log into your account, to redirect you when you log out, sexual harassment Receive our latest updates by signing up our newsletter! stamp.news Bernie Sanders delivery problems Select Category personalize your experience with targeted ads. USPS first announced it would offer voluntary early retirement to eligible non-bargaining unit workers in early March. Copyright 2023 United States Postal Service. In phase one of the restructuring, announced last August, DeJoy reshuffled USPS executives and realigned the agency to focus on three lines of effort retail and delivery operations, logistics and processing, and commerce and business solutions. Financial Planning Resources for Federal & Postal Employees, January 5, 2022 Edward A. Zurndorfer, Certified Financial Planner. At least five (5) years of that service MUST be creditable civilian service, not military service. The U.S. Layoffs may be looming for U.S. Reproduction without permission prohibited. Compensation and benefits expense increased $1.4 billion, or 2.9 percent, primarily due to wage increases in our labor agreements tied to inflation, and in particular the impacts of cost of living adjustments. Much will depend on how many employees accept the early retirement offers, as well as how the Postal Services final structure and staffing plan takes shape next month. My supervisor says they're offering $10K payout and adding 5 years to your record. In particular, most employees cannot carry over more than 240 hours of unused annual leave into the new leave year. OIG throwing stuff USPS has held a dozen information sessions with eligible employees to go over the benefits of early retirement. Yes, Government Executive can email me on behalf of carefully selected companies and organizations. technologies for the following purposes: We do not allow you to opt-out of our certain cookies, as they are necessary to The plan thats in process right now is an administrative headcount reduction of some 60,000 people that was brought about with our realignment, DeJoy said. Visit www.allaboutcookies.org The first bill, H.R. Federal Scientists Still Worry About Censorship, Shift Left: Achieving Secure Application Modernization with DevSecOps. may be used by those companies to build a profile of your interests and show you relevant adverts on other Click on the different category headings to find out more and change our The newest federal holiday, Juneteenth, commemorating the end of slavery in the United States, falls on a Sunday this year, so USPS and other federal agencies will observe the holiday on June 20. June 2018 Once retired, an annuitant receives interim annuity checks not full annuity checks -equal to approximately 40 to 80 percent of the full annuity check. Postal Service Headquarters 475 L'Enfant Plaza, SW, Room 9671 Washington, DC 20260-4250 All retiring employees (CSRS and FERS) get credit for unused sick leave hours in the computation of their CSRS and FERS annuities. Follow us on Twitter, Instagram, Pinterest and LinkedIn. Find your MRA using this. We do not allow you to opt-out of our certain cookies, as they are necessary to UPMA postal finances Many are asking, Should I accept early-out retirement? It is not the place of the national APWU to give advice on whether to retire or not. Informed Delivery able to use or see these sharing tools. April 2019 Privacy Policy. NRLCA Teamsters Contact Us 1727 King Street, Suite 400 Alexandria, VA 22314-2753 703-836-9660 (phone) 703-836-9665 (fax) August 2020 penalty overtime CVS Archives Archives There are rumors of an early-out retirement option going around at my office. TEs Trans FERS employees are subject to the FERS rules with respect to retirement eligibility and are eligible to receive two annuities; namely, a CSRS annuity based on the years of service they were covered by CSRS and a FERS annuity based on the years they were covered by FERS. This non-GAAP measure is calculated as net income (loss) adjusted for the impact of the PSRA, all retiree health benefits expense, workers compensation (benefit) expense caused by actuarial revaluation and discount rate changes, and the amortization of CSRS and FERS unfunded liabilities. When DeJoy first took office, the postmaster general led an effort toslash tens of thousands of non-union jobs by offering early retirement incentives and layoffs as part of a reorganization of its management structure. You may opt out of our use of such browser. The non-career workforce has remained fairly steady in recent years at 136,000. It declined to say how many employees it was targeting for the staffing reductions, announcing only it would finalize its plan in May. The early retirement offers, which did not come with any buyout incentive, were part of a "RIF-avoidance" process. For more information, please see our information. On Feburary 8, 2022, the House of Representatives passed H.R. 06-02-2022 03:32 PM. June 2022 July 2018 Dr. Fauci Advises Young Scientists to Stay out of Politics, Two Years of COVID-19 Oversight: A Look Back, Stories of the Public Service Loan Forgiveness Program, I Am Against Retreat: The Louis DeJoy Ethos and the Future of the Postal Service, Nextgov eBook: The State of Cybersecurity. Sale of Personal Data, Targeting & Social Media Cookies, Under the California Consumer Privacy Act, you have the right to opt-out of the As it implements these changes, the Postal Service is also gearing up for its role in the 2022 midterms. Other operating expenses increased $1.3 billion, or 13.0 percent, as inflationary pressures have led to higher average fuel prices for delivery vehicles and an increase in rent and utilities costs. For CSRS or CSRS Offset employees, this means retiring no later than Jan. 3, while FERS/Trans FERS employees could retire no later than Dec. 31. These non-GAAP measures provide meaningful information to assist users of the Postal Service's financial statements in more fully understanding the financial results and assessing the Postal Service's ongoing performance because they exclude items that may not be indicative of, or are unrelated to, underlying operations. 3 Represents workers' compensation non-cash benefit resulting from fluctuations in discount rates, changes in assumptions, valuation of new claims, revaluation of existing claims, and the administrative fee paid to DOL, less current year claim payments. November 2022 If you do not allow these cookies you may not be GovExec Daily: Schedule F Might Be Coming Back. At most agencies, an employee who works a Monday through Friday 8 hour per day work schedule, and who retires before the official end of the pay period (which is the second Saturday of the pay period), will not accrue any annual or sick leave (see below) hours for that last period worked. of the site will not work as intended if you do so. President Butts brings Christmas wishes to all NAPS members. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. April 2018 May 2022 Some locations are having job fairs. The Combined Federal Campaign is slated to conclude Jan. 15. July 28, 2022 Postal Service Elections The U.S. These cookies are not used in a way that constitutes a sale of var dropdown = document.getElementById( "cat" ); see some advertising, regardless of your selection. NAPS has been briefed that VP Heather Dyer and the Inspection Service have confirmed Postal Service employees are often unknowingly providing their usernames and passwords. The reduction would reverse a trend in recent years in which the USPS workforce has remained steady or grown slightly. etc.). can choose not to allow certain types of cookies, which may impact your experience of the site and the You are eligible for USPS-sponsored retirement counseling both group and individual. NALC and the Postal Service open negotiations for sixteenth collective bargaining agreement The Postal Service sent kits to election officials across the country in March to offer their recommendations for election mail policies and has maintained strike teams at the area and district levels to engage with those individuals. Over the weekend, law enforcement conducted numerous sting operations at a number of post office locations. One current postmaster, part of the impacted group of employees, said the workforce was frustrated that postal management was only laying out its plans in phases. 703-836-9665 (fax), Bipartisan Postal Supervisor and Manager Fairness Act, and Postal Employees MSPB Appeal Rights Legislation Introduced, USPS-NAPS Agreement on Exempt Managers & Postmasters Delivering Mail, National President Ivan Butts Wishes You and Your Family a Merry Christmas, BREAKING NEWS: NAPS ALERT - POSTALEASE SECURITY UPDATE, IDB Supervisor Symposium Message from NAPS National President Ivan Butts, The House Oversight and Reform Committee Passed HR 1307 - The Vote by Mail Tracking Act, Breaking News: Mitigation FY22-Updated Timeline, Statement of Charles Mulidore, Executive Vice President, National Association of Postal Supervisors, Fatal Shooting at Chattanooga Plant Reported, NAPS Newsbreak - FY22 PES Mitigation Dates, NAPS Newsbreak - Statement on Postmaster General's Announcement of 3% Pay Increase, Non-Bargaining Pay Increase Effective September 24, 2022, NAPS President Ivan Butts to Testify Before House Oversight and Reform Subcommittee on Government Operations, Advocate for Postal Shipping Equity on July 19, 2022, Postal Service Board of Governors Finally at Full Strength. This is because of the use or lose rule for unused annual leave that affects most employees. The information collected might relate to you, your preferences or your device, and is mostly The Postal Service ended 2021 with nearly 517,000 career employees, its highest total since 2012. These cookies are not used in a way that constitutes a sale of Executive Board, Board Memo 030-2022: Mitigation FY22-Updated Timeline contract negotiations 0 Likes . June 2020 content and messages you see on other websites you visit. Adjusted loss increased by $2.0 billion, compared to the same period last year, despite the $1.5 billion increase in revenue, due to inflationary impacts on several operating expense categories. Payments are to be made in equal installments through 2043. If you do not allow these cookies, you will experience less targeted advertising. dropdown.onchange = onCatChange; posted on February 27, 2023, Understanding the Federal Employees Group Life Insurance Program
We also share information about your use of our site with our social media, advertising choices) and/or to monitor site performance. VERAs. postal If you are under the Minimum Retirement Age (MRA), you will not receive the Social Security Supplement until you reach the MRA. pit bulls traffic on our website. Shipping and Packages revenue decreased $700 million, or 2.2 percent, on a volume decline of 399 million pieces, or 5.3 percent, compared to the same period last year. World.Postal.News More specifically, we use cookies and other tracking if ( dropdown.options[ dropdown.selectedIndex ].value !== '' ) { choices) and/or to monitor site performance. If you are eligible for the VER, the USPS will be mailing you a packet on January 12th. DISCLAIMER: The information presented on MyFederalRetirement.com is provided for general information purposes. This thread is archived New comments cannot be posted and votes cannot be cast 5 18 USPS US Federal Government 18 comments In a press conference last week, Postmaster General Louis DeJoy gave a hint as to the Postal Services goals. postalcrime.com Note the following:: 1. 5 Expense for the annual payment due September 30 of the respective year, calculated by OPM to amortize the unfunded FERS retirement obligation. 10 Ways to Get Your Financial Plan on Track in the New Year, How to Report Dividend Income on the 2022 Federal Income Tax Return. The packet will include your annuity estimate (this is not a guarantee of what your annuity payments will be; OPM makes the final determination of your annuity, and it could be different than the estimated amount provided in your packet) and information about available benefits including eligibility, limits, and costs. Any announcement on plans to request or offer voluntary early retirement must come from the USPS. February 2020 Headquarters You can usually find these settings in the Options or Preferences menu of your ESAS Executive Board, This website uses cookies to enhance user experience and to analyze performance and To retrieve your USPS PIN follow these instructions: Dial 1- 877-477-3273 Press 1 then enter your social security number When asked to enter your PIN number just pause and then press 2. If you do not allow these cookies you may not be For more information about the First and Third Party Cookies used please follow this link. The packet will have vital information about your opportunity for an early-out. Rights link. holidays We also use cookies to personalize your experience on our websites, including by Search That's because many people think that buyouts (VSIPs in government lingo) and VERAs (early retirement) go hand in hand. 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