On a U.S. generally accepted accounting principles (GAAP) basis, the Postal Service had net income of $56.0 billion for the year, compared to a net loss of $4.9 billion for the same period last year, due almost exclusively to the one-time, non-cash impact of the PSRA. 3370 Glendale Blvd. However, there is one exception; namely, those employees who want to retire toward the end of the leave year before the start of the new leave year and who want to receive their first annuity check on February 1st. Ballots are taking 1.8 days on average to go from election officials to voters, and 0.7 days to from the voters back to the officials. FEHBP "But that's OK, because over the next two years, 200,000 people [will] leave the organization for retirement.. FEHBP Open Season These cookies are not used in a way that constitutes a sale of Additionally, you may contact our legal var dropdown = document.getElementById( "archives-dropdown-2" ); The designated week was chosen to coincide with International Womens Day on March 8, a global event that has been observed since 1911. postalnews.co.uk Contact NAPS Find Your Branch For more information about the Postal Service, visit usps.com and facts.usps.com. 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. That's because many people think that buyouts (VSIPs in government lingo) and VERAs (early retirement) go hand in hand. We also share information about your use of our site with our social media, advertising It went through several workforce reduction efforts in the early 2010s as it consolidated mail processing plants and slowed down mail delivery. Note the following:: 1. World.Postal.News user asks your browser to store on your device in order to remember information about you, such as your At approximately 2200 EST on October 30, October 28, 2022 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. February 2023 It declined to say how many employees it was targeting for the staffing reductions, announcing only it would finalize its plan in May. Retiring employees who have more than 240 hours of unused annual leave towards the end of the leave year do not want to retire after the start of the new leave year. opioids The first bill, H.R. stamp.news Subscribe to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog. Your USPS PIN will be automatically mailed to your USPS address of record. Preferences menu of your browser. 2023 by Government Media Executive Group LLC. language preference or login information. Take advantage of every opportunity to learn the specifics about your retirement benefits. see some advertising, regardless of your selection. Assuming a FERS/Trans FERS employee is eligible to retire, no matter which day of the month a FERS/Trans FERS employee retires, the employees retirement becomes effective on the first day of the following month, with the issuance of the first FERS annuity check on the first day of the month thereafter. Your spouse can participate in the counseling session(s). July 2019 Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021; U.S. Visit www.allaboutcookies.org My Federal Retirement is not affiliated with the U.S. Federal Government. of the site will not work as intended if you do so. browsers and GEMG properties, your selection will take effect only on this browser, this device and this browser. The reduction would reverse a trend in recent years in which the USPS workforce has remained steady or grown slightly. if ( dropdown.options[ dropdown.selectedIndex ].value > 0 ) { Partenheimer declined to comment on whether RIFs could be forthcoming. High inflation is presenting significant challenges to the Postal Service. December 2018 USPS.com is the website for the United States Postal Service. can choose not to allow certain types of cookies, which may impact your experience of the site and the Personal Information. Los Angeles, CA 90039. browser. Click on the different category headings to find out more and change our The PSRA canceled this obligation and eliminated all future prefunding obligations. Informed Delivery retirement September 2020 Those cookies are set by us and called first-party cookies. to take that as a valid request to opt-out. We also use cookies to personalize your experience on our websites, including by Marketing Mail revenue increased $1.4 billion, or 9.7 percent, on volume growth of 894 million pieces, or 1.4 percent. periodicals document.location.href = this.options[ this.selectedIndex ].value; The postmaster general had not previously outlined his final vision for the impact his 10-year business plan would have on the size of the workforce, speculating last year he might spearhead a net growth. The specific employee impacts have not been determined at this time.. if you worked 20 years, your annuity will be 20% of your high-3 average salary). They At least five (5) years of that service MUST be creditable civilian service, not military service. January 2020 I'm Having the same issue. For CSRS or CSRS Offset employees, the best day of the month to retire is within the last three days of the current month or the first three days of the following month. Sign up to receive more, 3.2 Percent Fed Raise Proposed; Tax Debt, MSPB Rights Also on Agenda, Panel Backs Bill to Make Censorship a Firing Offense for Federal Employees, Report Raises Concerns about Security of VA Facilities, OMB: Its Time to Take TikTok Off Agency Devices, Postal Supervisors Feel Pressure to Under-Report Work Hours, Says IG, How Your FERS, Social Security and TSP Payments Get Taxed, SHOW Up Acts Potential Implications on Extended Use of Telework for Federal Employees, Understanding the Federal Employees Group Life Insurance Program. The Postal Service unilaterally announced earlier today that it is offering Voluntary Early Retirement (VERA) to eligible mail handlers throughout the United States. Board Memo 030-2022: Mitigation FY22-Updated Timeline Therefore we would not be able to track your activity through the content and messages you see on other websites you visit. Christmas stamps You may opt out of our use of such Rights link. can choose not to allow certain types of cookies, which may impact your experience of the site and the Strictly Necessary Cookies - Always Active. Alaska On October 28, 2022, USPS Headquarters informed NAPS Headquarters about the Mitigation Date for the FY22 NPA., September 21, 2022 Interim checks are sent while the Office of Personnel Managements (OPM) retirement office adjudicates the recently retired employees retirement file. Technology Artificial Intelligence Ask the CIO Automation Big Data CIO News Cloud Computing Cybersecurity IT Modernization Open Data/Transparency sale of your personal information to third parties. 2 Represents expense for PSRHBF amortization and expense for the increase of $303 million in the annual normal cost attributable to revised actuarial assumptions and discount rate changes based on OPMs invoices for obligations that were due by September 30, 2021. It has already helped deliver ballots for 42 primaries, runoffs and special elections this year, postal officials told reporters on Thursday, and is seeing a nearly 200% increase in volume compared to this point of the 2018 midterm season. CanadaPostNews.com For more information, please see our performance. your data under the CCPA. When Louis DeJoy first took office, the postmaster general led an effort toslash tens of thousands of non-union jobsby offering early retirement incentives and layoffs as part of a reorganization of its management structure. good.postal.news 6 Represents expense for the actuarially determined normal cost of retiree health benefits for current employees based on OPM's invoices for obligations that were due by September 30, 2021, less the increase of $303 million in the annual normal cost attributable to revised actuarial assumptions and discount rate changes. right wing wackos The amounts of coverage may decrease and the costs (if you continue coverage) will likely rise. However, actual results may differ significantly from current estimates. Full Outage Map. May 2021 Employees who decide to accept the offer can apply by completing and submitting the required documents by April 16; the retirements will take effect April 30. podcasts eBay If you are having trouble getting USPS-provided counselling, you can call the APWU Retirees Department at (877) 279-8669. However, there are different . The early retirementswhich will allow for retirement with immediate eligibility for an annuity under either CSRS or FERS at age 50 with at least 20 years of federal service or at any age with at least 25will not be accompanied by buyout incentive payments, however, in contrast to prior rounds of downsizing over the last decade and more. In a press conference last week, Postmaster General Louis DeJoy gave a hint as to the Postal Services goals. 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. May 2022 When Louis DeJoy first took office, the postmaster general led an effort toslash tens of thousands of non-union jobsby offering early retirement incentives and layoffs as part of a reorganization of its management structure. This is because of the use or lose rule for unused annual leave that affects most employees. information by using this toggle switch. Select Category ashes The National Association of Postal Supervisors, the management association that represents most of the impacted workers, said USPS has informed the group there could be a RIF forthcoming. The Postal Service estimates that only 1,712 of the 10,522 APWU represented employees will accept the VER. Sponsored: Reimagine Health and Human Services, GovExec Daily: Mental Health in the Workplace, Do Not Sell My })(); The latest reports from users having issues in Los Angeles come from postal codes 90060, 90017, 91042, 90015 and 91605. Since most federal employees work a Monday to Friday 80 hour bi-weekly payroll schedule, it is assumed that the best day of the week to retire is the second Saturday of a pay period. I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. arbitration Strictly Necessary Cookies - Always Active. Inside one sprawling facility at Florence and Central avenues in Los Angeles, which serves 92 L.A.-area post offices, seven delivery bar code sorters were removed in June, leaving . To be eligible, one must have at least 50 years of age with at least 20 years of service, or any age with at least 25 years of service. December 2022 CSRS employees (including CSRS Offset employees) who are eligible to retire and who retire on the first, second, or third day of the month will have an effective retirement date on the next day of that month, and their first retirement check will be dated the first day of the following month. Meanwhile, Independence Day will fall on a Monday in 2022 and Christmas Day will fall on a Sunday, as will New Years Day 2023. technologies for the following purposes: We do not allow you to opt-out of our certain cookies, as they are necessary to to learn more. rural carriers The U.S. By Daniella Genovese FOXBusiness. COLA FedEx Report a Problem. For more information, please read our Terms of Service. posted on February 28, 2023, Panel Backs Bill to Make Censorship a Firing Offense for Federal 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. The site offers track and trace of shipments, delivery notifications, missing mail and packages reporting, and more. The next phase of the reorganization, originally announced last August, will include: consolidating the current 67 districts into 50, based largely along state lines; centralizing the marketing functions at the area and district levels into the chief customer and marketing organization, including consumer and industry affairs and the bulk mail entry units; and realigning logistics and processing operations to make them more closely align with retail and delivery operations. May 2020 NGDV Headquarters All rights reserved. USPS will treat mail pieces with counterfeit postage as abandoned- and may open and dispose of them Parenheimer later clarified DeJoy was referencing the entire population of management employees at USPS, not all of which would be impacted by the restructuring. NAPS Store Order Form, 1727 King Street, Suite 400 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. postalcrime.com November 2021 These cookies are not used in a way that constitutes a sale of your data under the CCPA. information by using this toggle switch. traffic on our website. able to use or see these sharing tools. added to the site to enable you to share our content with your friends and networks. A U.S. Preferences menu of your browser. November 2022 This non-GAAP measure is calculated as net income (loss) adjusted for the impact of the PSRA, workers compensation expenses caused by actuarial revaluation and discount rate changes, expenses caused by the actuarial revaluation of the Postal Service Retiree Health Benefits Fund (PSRHBF), and the amortization of the PSRHBF, 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. As part of a settlement agreement with the NAACP and Public Citizen last year, USPS pledged to make a good-faith effort to implement extraordinary measures in the runup to the election similar to those in place in 2020. Visit www.allaboutcookies.org Executive Board, Novembe, The NAPS family is saddened to hear of the loss of two lives in the senseless shootings that occurred overnight at the USPS Facility in Chattanooga, TN. tracking your browser across other sites and building up a profile of your interests. Once retired, an annuitant receives interim annuity checks not full annuity checks -equal to approximately 40 to 80 percent of the full annuity check. rate increase Bernie Sanders CVS March 2022 delivery problems contracting The Postal Service's early retirement offer has given new (probably false) hope to feds in other agencies who would love to retire early on an immediate but reduced annuity. August 2021 September 2019 New comments cannot be posted and votes cannot be cast, Scan this QR code to download the app now. coronavirus posted on February 28, 2023, Law Enforcement Retirement Countdown Clock, Webinar: Your Federal Retirement Benefits, Public Service Loan Forgiveness (Sponsored), Report: Federal Employee Benefits & Divorce, Military Service Credit for Federal Retirement, FLTCIP Federal Long Term Care Insurance Program, FEGLI Federal Employees Group Life Insurance, Dual Employment in the Federal Government, Image: DCStockPhotography/Shutterstock.com, Like this article? POStPlan postu.be If you opt out we will not be able to offer you personalised ads and If you opt out we will not be able to offer you personalised ads and February 2020 post office closings You can usually find these settings in the Options or Preferences menu of your MAGABomber Copyright 2007-2023 My Federal Retirement. Entries feed On Jan. 9, USPS will raise Shipping Services product prices approximately 3.1 percent for Priority Mail service and 3.1 percent for Priority Mail Express service. of the site will not work as intended if you do so. President Butts thanks USPS EAS for their hard work and dedication displayed during this Peak Season to deliver America's mail. This column discusses the suggested best dates to retire for CSRS and FERS employees during 2022, 2023, 2024 and 2025. may be used by those companies to build a profile of your interests and show you relevant adverts on other if ( dropdown.options[ dropdown.selectedIndex ].value !== '' ) { According to a previous grievance settlement with the APWU, local management must arrange a reasonably private space for employees who wish to receive individual counseling on the clock. Aviation mail security & hazardous materials. Note that unused sick leave hours can be used only for CSRS or FERS annuity computation purposes and not for retirement eligibility purposes. Cookies as they are deployed in order to ensure the proper functioning of our website (such as prompting the ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy election mail DeJoy recently unveiled a 10-year business plan that included a proposal to resume those closures and consolidations. Find your MRA using this. VERA September 2021 Amazon If you are under the Minimum Retirement Age (MRA), you will not receive the Social Security Supplement until you reach the MRA. The early retirement offers, which did not come with any buyout incentive, were part of a "RIF-avoidance" process. October 2021 NAPS National President Ivan Butts delivers an update on IDB Supervisor Symposium. Fiscal Year 2022 Operating Revenue and Volume by Service Category Compared to Prior Year The fact that retiring employees receive their payment for unused annual leave hours within a few weeks shortly following their retirement date is important. Additionally, you may contact our legal safety We seem to be left in the dark this time around, the postmaster said. The following table reconciles GAAP net income (loss) to the non-GAAP financial measures for the years ended September30, 2022 and 2021: Impact of Postal Service reform legislation on past-due PSRHBF obligations1, PSRHBF amortization and changes in normal costs of retiree health benefits due to revised actuarial assumptions2, CSRS unfunded liability amortization expense4, FERS unfunded liability amortization expense5, Controllable (loss) income excluding all retiree health benefits expense. /* ]]> */ may be used by those companies to build a profile of your interests and show you relevant adverts on other performance. The Postal Service's operating revenue was $78.5 billion for the year, an increase of $1.5 billion, or 1.9 percent, despite a volume decline of 1.6 billion pieces, or 1.2 percent, compared to the same period last year. throwing stuff They are capable of Forward-Looking Statements You Marketing Mail experienced steep volume declines at the onset of the pandemic but has been rebounding as the economy continues to recover. privacy request at our Do Not Sell page. and our ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy For example, if a CSRS or a CSRS Offset employee retired on Jan. 1, 2022, then the employees retirement became effective on Jan. 2, 2022. This website uses cookies to enhance user experience and to analyze performance and Financial results in the Form 10-K are available at http://about.usps.com/what/financials/. January 2019 By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. sites. } Cookies Policy. The information collected might relate to you, your preferences or your device, and is mostly determining the most relevant content and advertisements to show you, and to monitor site traffic and VERA & VSIP Menu Overview (VERA and VSIP Authorities) VERA - Voluntary Early Retirement Authority Covered Employees The State Attorneys Office told the I-TEAM that it is not filing charges against the dog owner, while an OSHA investigation did not result in any safety violations. Adjusted loss (income) excludes the impact of the PSRA, retiree health benefits expense, non-cash workers' compensation adjustments for the impacts of actuarial revaluation and discount rate changes, which are outside of management's control, and amortization expenses for the Civil Service Retirement System (CSRS) and the Federal Employee Retirement System (FERS) unfunded liabilities. Sale of Personal Data, Targeting & Social Media Cookies, Under the California Consumer Privacy Act, you have the right to opt-out of the A customer Bought two Vintage Hats in Feb 2022, they are still in . website. weather } insurance With an early retirement you cant make additional contributions to TSP or receive employer contributions as you would with continued employment. Receive our latest updates by signing up our newsletter! USPS first announced it would offer voluntary early retirement to eligible non-bargaining unit workers in early March. Social media cookies are set by a range of social media services that we have 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. crying wolf Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images. Visit www.allaboutcookies.org workers comp OIG Those who apply for the early-out will see financial/income impacts, including: If you are an employee covered by CSRS, you will have your annuity reduced by 2% for each year you are under age 55. /* ]]> */ cookie banner and remembering your settings, to log into your account, to redirect you when you log out, DeJoy I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. Many are asking, "Should I accept early-out retirement?". will not hand over your personal information to any third parties. When you visit our website, we store cookies on your browser to collect 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. Yes, Government Executive can email me on behalf of carefully selected companies and organizations. services we are able to offer. November 2018 The enactment of the Postal Service Reform Act (PSRA) in April 2022 significantly impacted the financial condition of the Postal Service, as it repealed the requirement that the Postal Service annually prepay future retiree health benefits and canceled all past due prefunding obligations. Cookies, which may impact your experience of the use or lose rule for annual! Only for CSRS or FERS annuity computation purposes and not for retirement eligibility purposes performance... To comment on whether RIFs could be forthcoming address of record with your friends and networks USPS.com the! Having the same issue additional contributions to TSP or receive employer contributions as you would with continued employment packages,..., Delivery notifications, missing mail and packages reporting, and more high inflation is significant! To ensure the proper functionality of our platform, the Postmaster said, Reddit still! Unused sick leave hours can be used only for CSRS or FERS annuity computation purposes and not for eligibility! Cookies, which did not come with any buyout incentive, were part of a `` RIF-avoidance '' process of. High inflation is presenting significant challenges to the site to enable you to share our with... Actual results may differ significantly from current estimates ensure the proper functionality of our platform tracking browser! Updates by signing up our newsletter costs ( if you do so valid request to opt-out our legal We. Gemg properties, your selection will take effect only on this browser this! Hand over your personal information if you continue coverage ) will likely rise rule for unused leave... Challenges to the Postal Service around, the Postmaster said and this browser & # ;. Out of our use of my personal data by Government Executive Media Group and its partners to serve me ads! ) will likely rise be left in the dark this time around the. Represented employees will accept the VER part of a `` RIF-avoidance '' process missing mail and reporting. Will take effect only on this browser our latest updates by signing up our newsletter estimates that 1,712... Trend in recent years in which the USPS workforce has remained steady or grown slightly whether. For their hard work and dedication displayed during this Peak Season to deliver America 's mail our Terms of.... Information, please see our performance ) years of that Service MUST be creditable Service! Are asking, & quot ; carefully selected companies and organizations 2020 Those cookies are set by and! And GEMG properties, your selection will take effect only on this browser significantly from current.. United States Postal Service of our use of such Rights link work as intended if you do.! The reduction would reverse a trend in recent years in which the USPS workforce has remained steady or slightly! Buyout incentive, were part of a `` RIF-avoidance '' process advantage of every to. Remained steady or grown slightly president Ivan Butts delivers an update on IDB Supervisor Symposium your personal usps early out rumors 2022!? & quot ; Should I accept early-out retirement? & quot ; Should I accept early-out retirement? quot! Of our platform H. Richardson/MediaNews Group/The Denver Post via Getty Images profile your! And trace of shipments, Delivery notifications, missing mail and packages reporting, and more receive our latest by... To the use of such Rights link by us and called first-party cookies of my personal data by Executive! 'S mail coverage ) will likely rise in early March advantage of every opportunity to learn specifics! Choose not to allow certain types of cookies, which did not come with any buyout,. Mailed to your USPS PIN will be automatically mailed to your USPS address of record to serve targeted. Serve me targeted ads affects most employees ) will likely rise opportunity to learn the about. Challenges to the Postal Services goals for retirement eligibility purposes certain types of cookies, Reddit may still use cookies... Your interests your spouse can participate in the dark this time around, the Postmaster.... For retirement eligibility purposes Ivan Butts delivers an update on IDB Supervisor Symposium recent... Hint as to the use of my personal data by Government Executive can email me on behalf of selected! Its partners to serve me targeted ads notifications, missing mail and packages,..., this device and this browser America 's mail Having the same issue the website for the United Postal... Website for the United States Postal Service be usps early out rumors 2022 in the dark this around. Is the website for the United States Postal Service estimates that only 1,712 of the site and personal!, and more additionally, you may contact our legal safety We seem to be left in the counseling (! Getty Images or receive employer contributions as you would with continued employment x27 ; Having... Your retirement benefits to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog can... Early-Out retirement? & quot ; Should I accept early-out retirement? & ;... And the costs ( usps early out rumors 2022 you do so only on this browser announced... Rights link Executive can email me on behalf of carefully selected companies and organizations conference! 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