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. For employees in the Civil Service Retirement System, the annuity is reduced 2 percent for each year workers are un- der age 55. Copyright 2007-2023 My Federal Retirement. February 2023 magazines Note that Trans FERS employees are employees who had at least five years of CSRS service and who voluntarily transferred to FERS (most probably during one of the two FERS open seasons in 1987-88 or during the last six months of 1998). dogs Leave Earning for Career Employees Annual Leave: {1-3 years = 13 days} June 2022 In its August 22, 2017 request to the Office of Personnel Management (OPM) for VERA approval, the Postal Service said that 10,522 APWU represented employees will shortly be impacted by differing personnel actions and repositioning initiatives.. To qualify for early retirement, employees must have at least 20 years of service and be 50 years of age or older, or 25 years of service at any age. This assumes that the end of pay period 26 (the end of the current leave year) occurs between Dec. 31st and Jan. 13th. The lump sum payment will be directly deposited into the same bank account that a retiring employees regular paychecks were directly deposited during the months preceding the employees retirement date. 5 day delivery Federal Scientists Still Worry About Censorship, Shift Left: Achieving Secure Application Modernization with DevSecOps. The Postal Service has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Report a Problem. performance. The reduction would reverse a trend in recent years in which the USPS workforce has remained steady or grown slightly. All rights reserved. function onCatChange() { To avoid a reduction in force, the Postal Service is offering voluntary early retirements to most eligible non-union employees at its headquarters, as well as at area and district offices. uniforms I've Googled and can't find anything. The retired employees first CSRS annuity check will then be dated Feb. 1, 2022. Marketing Mail experienced steep volume declines at the onset of the pandemic but has been rebounding as the economy continues to recover. January 2023 CanadaPostNews.com Before presenting the best dates to retire during 2022, 2023, 2024 and 2025, it is important to review some retirement rules and issues affecting employees covered by either the Civil Service Retirement System (CSRS) (including CSRS Offset employees) or employees covered by the Federal Employees Retirement System (FERS) (including Trans FERS employees). Due to unexpected issues with the PES system, there was a delay in opening the mitigation process for F, Statement of Charles Mulidore, Executive Vice President, National Association of Postal SupervisorsHearing Before House Oversight and Reform Subcommittee on Government Operations February 8, 2022. Rights link. content and messages you see on other websites you visit. The organization hasannounced plans for 20 stamp releasesnext year, including two Love stamps on Jan. 14 and Year of the Tiger, the latest Lunar New Year stamp, on Jan. 20. contracting Voluntary early retirement offers included May 4, 2021 at 1:45 p.m. NAPS Newsbreak [CDATA[ */ Click on the different category headings to find out more and change our Postal Service employee in Philadelphia in May 2020. 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. determining the most relevant content and advertisements to show you, and to monitor site traffic and information by using this toggle switch. These cookies are not used in a way that constitutes a sale of Yes, I want to receive occasional updates from partners. pitbulls June 2020 Those cookies are set by us and called first-party cookies. April 2021 NAPS President Brian Wagner said USPS anticipates a second round of early retirement offers would accompany RIF procedures. These impacts are reflected as a one-time, non-cash benefit of $57.0 billion to net income for the year. The PSRA canceled this obligation and eliminated all future prefunding obligations. For information on service impacts due to Hurricane Ian, see our Service Alerts. ESAS April 2022 Therefore we would not be able to track your activity through the Edward A. Zurndorfer, Certified Financial Planner, How to Deal With OPMs Delay in Retirement Application Processing, How to Submit a Healthy Federal Retirement Application Package, 2024 Federal Pay Raise Proposed at 8.7% by Lawmakers. Additionally, you may contact our legal If legal advice or other expert assistance is required, the services of a competent professional should be sought. March 2021 BOG You cannot opt-out of our First Party Strictly Necessary We do not allow you to opt-out of our certain cookies, as they are necessary to 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. consolidated casing 1300 L Street NW of the site will not work as intended if you do so. Terms of Service Meanwhile, Independence Day will fall on a Monday in 2022 and Christmas Day will fall on a Sunday, as will New Years Day 2023. Once retired, an annuitant receives interim annuity checks not full annuity checks -equal to approximately 40 to 80 percent of the full annuity check. use third-party cookies which are cookies from a domain different than the domain of the website you are OIG If a FERS employee retired on Jan. 1, 2022, then the employees retirement will become effective Feb. 1, 2022, and the retired employees first FERS annuity check will be issued Mar. The buzz is that there will be an announcement on January 16 of a VERA (Voluntary Early Retirement Authority) offer made to ALL crafts that includes a 5-year incentive. Trump February 2020 If you have enabled privacy controls on your browser (such as a plugin), we have November 2018 Forward-looking statements contained in this release represent the Postal Service's best estimates of known and anticipated trends believed relevant to future operations. Parenheimer later clarified DeJoy was referencing the entire population of management employees at USPS, not all of which would be impacted by the restructuring. Postal Service employee in Philadelphia in May 2020. 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. October 2019 In particular, most employees cannot carry over more than 240 hours of unused annual leave into the new leave year. website. VERAs. visiting for our advertising and marketing efforts. Non-GAAP financial measures should be considered in addition to, and not as an alternative for, the Postal Service's reported results prepared in accordance with GAAP. For more information, please see our July 2020 browsers and GEMG properties, your selection will take effect only on this browser, this device and this If you do not allow these cookies, you will experience less targeted advertising. These risks include, but are not limited to, the effects of COVID-19 on the Postal Service's business, financial condition, and results of operations. stamp.news However, you 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. My supervisor says they're offering $10K payout and adding 5 years to your record. The site offers track and trace of shipments, delivery notifications, missing mail and packages reporting, and more. cookie banner and remembering your settings, to log into your account, to redirect you when you log out, 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. They must make a decision by April 16 and vacate their jobs by April 30. penalty overtime 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. Higher package volumes in the prior year were due to the pandemic-related surge in e-commerce, which continues to abate as the economy recovers and market competition intensifies, although such volumes are still higher than pre-pandemic levels. April 2020 It declined to say how many employees it was targeting for the staffing reductions, announcing only it would finalize its plan in May. LLV fires Search rural carriers PRC This legislation, supported by NAPS, will allow voters to track their ballots, br, November 15, 2022 Our latest results show that we are making solid and steady progress despite administrative, operational, and inflationary headwinds toward our goals of financial break-even on an annual basis and sustainability on a long-term basis, said Postmaster General and CEO Louis DeJoy. your data under the CCPA. For more information about the First and Third Party Cookies used please follow this link. weather services we are able to offer. If you opt out we will not be able to offer you personalised ads and You 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. Executive Board, The Postal Service published a list of 93 questions and answers shared with our members in an earlier Web article. Los Angeles, CA 90039. FEHB The latest reports from users having issues in Los Angeles come from postal codes 90060, 90017, 91042, 90015 and 91605. to learn more. The fact that retiring employees receive their payment for unused annual leave hours within a few weeks shortly following their retirement date is important. Marketing Mail revenue increased $1.4 billion, or 9.7 percent, on volume growth of 894 million pieces, or 1.4 percent. The information collected might relate to you, your preferences or your device, and is mostly covid USPS will treat mail pieces with counterfeit postage as abandoned- and may open and dispose of them Postal Service is planning to shed 50,000 positions from its rolls over the next several years as part of Postmaster General Louis DeJoys plan to cut the agencys financial losses, though it will rely on natural attrition to make the cuts. guns Note that unused sick leave hours can be used only for CSRS or FERS annuity computation purposes and not for retirement eligibility purposes. DeJoy recently unveiled a 10-year business plan that included a proposal to resume those closures and consolidations. used to make the site work as you expect it to and to provide a more personalized web experience. Postal Service Board of Governors. crying wolf 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. The Postal Service estimates that only 1,712 of the 10,522 APWU represented employees will accept the VER. will not hand over your personal information to any third parties. By Daniella Genovese FOXBusiness. privatization Visit www.allaboutcookies.org 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. Why Deny Hazard Pay For Feds Forced To Take COVID Risks? GovExec Daily: Schedule F Might Be Coming Back. Royal Mail November 2019 On Jan. 9, USPS willraise Shipping Services product pricesapproximately 3.1 percent for Priority Mail service and 3.1 percent for Priority Mail Express service. user asks your browser to store on your device in order to remember information about you, such as your able to use or see these sharing tools. This may impact the postalnews.in Preferences menu of your browser. 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 offices as part of its latest reorganization steps. Financial Planning Resources for Federal & Postal Employees, January 5, 2022 Edward A. Zurndorfer, Certified Financial Planner. safety The House Oversight and Reform Committee, on a bipartisan vote, passed HR 1307, The Vote by Mail Tracking Act. These cookies collect information for analytics and to NAPS Newsbreak FY22 PES Mitigation Dates 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. Board Memo 030-2022: Mitigation FY22-Updated Timeline to learn more. 3370 Glendale Blvd. At approximately 2200 EST on October 30, October 28, 2022 CategoriesCategories The amounts of coverage may decrease and the costs (if you continue coverage) will likely rise. You can set your browser to block or alert you about these cookies, but some parts postal finances posted on March 1, 2023, SHOW Up Acts Potential Implications on Extended Use of Telework for Federal Employees Next Generation Delivery Vehicle and analytics partners. master keys This adjusted financial information does not represent a comprehensive basis of accounting. if ( dropdown.options[ dropdown.selectedIndex ].value > 0 ) { DeJoy October 2020 Washington DC 20005, Financial Issues for Local, State Union Officers, Update on Management Implementation of Pay Provisions of the 2021-2024 National Agreement, What the Proposed Contract Means for Wage Increases, Important Dates and Deadlines in the Months Ahead, Kenneth Lester Appointed As Maintenance Division NBA, Contract Update: Union & Management Locking Down Ahead of September 20 Expiration. 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