NALC Visit www.allaboutcookies.org Help us tailor content specifically for you: Tips for Career Feds on Handling Congressional Probes. Cookie Notice November 2020 FEHBP Open Season Your life insurance coverage (FEGLI) may change. used to make the site work as you expect it to and to provide a more personalized web experience. April 2019 browser. However, you If you do not allow these cookies, you will experience less targeted advertising. performance. A third tool, the reduction-in-force, "RIF," is less commonly used but can be deployed to achieve. However, there are different . 2. 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. 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. This VERA comes without any monetary incentive payments to retire, and simply makes early retirement available to eligible employees. 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. The Voluntary Early Retirement (VER) recently announced for eligible Clerk Craft employees by the Postal Service has generated many questions from the members of the APWU. The Postal Service ended 2021 with nearly 517,000 career employees, its highest total since 2012. 4 Expense for the annual payments due September 30 of the respective year, calculated by OPM to amortize the unfunded CSRS retirement obligation. intended if you do so. They do not store directly personal information, but are based on uniquely identifying your browser and The following table presents revenue and volume by category for the years ended September30, 2022 and 2021: (revenue in $ millions; volume in millions of pieces). to learn more. 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. 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. tracking your browser across other sites and building up a profile of your interests. 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. 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. right wing wackos September 2022 personalize your experience with targeted ads. of the site will not work as intended if you do so. TSP withdrawal restrictions are not eased for those accepting a VERA. Trump October 2019 retirement May 2022 Cookies as they are deployed in order to ensure the proper functioning of our website (such as prompting the contracting NAPS National President Ivan Butts delivers an update on IDB Supervisor Symposium. Copyright 2023 United States Postal Service. They do not store directly personal information, but are based on uniquely identifying your browser and You Executive Board, USPS.com is the website for the United States Postal Service. Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021; U.S. Rights link. 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. NALC and the Postal Service open negotiations for sixteenth collective bargaining agreement With this background information in mind, the following table presents the best dates for CSRS or CSRS Offset and FERS/Trans FERS employees to retire during 2022, 2023, 2024 and 2025. holidays November 2018 Any ideas from the forum re LA greatly appreciated. information. The dates shown in the table below were determined based on OPMs 2022 2023, 2024 and 2025 leave year calendars used by most Federal Executive Branch agencies. user asks your browser to store on your device in order to remember information about you, such as your High inflation is presenting significant challenges to the Postal Service. Postal Pulse 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. master keys visiting for our advertising and marketing efforts. We are rising to meet these challenges through strategic management of our business that will allow us to continue providing high-quality service to the American public while supporting our employees and achieving long-term financial sustainability.". October 2018 Together, our leadership team and all our employees know we need to remain laser focused and drive hard to implement operational changes, capture the available efficiency gains, and grow our revenue, consistent with the initiatives in our plan.. Archives Archives 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. (function() { 06-02-2022 03:32 PM. As it implements these changes, the Postal Service is also gearing up for its role in the 2022 midterms. to learn more. It went through several workforce reduction efforts in the early 2010s as it consolidated mail processing plants and slowed down mail delivery. The subcommitt, On July 19, a broad coalition of representatives from the beverage and postal employee community are participating in a virtual lobbying day to promote the USPS Shipping Equity Act (H.R. In December, the USPS made a change to how it ends its press releases that may seem subtle, but hammers home the Delivering for America marketing message USPS is hiring across the country. determining the most relevant content and advertisements to show you, and to monitor site traffic and Targeting cookies may be set through our site by our advertising partners. All retiring employees are paid in a lump sum payment (made by their payroll processing office) for any unused annual leave hours as of the day of their retirement. Search UPMA NAPS Newsbreak Note the following:: 1. 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. You can set your browser to block or alert you about these cookies, but some parts magazines 2023 by Government Media Executive Group LLC. STATEMENT ON POSTMASTER GENERALS ANNOUNCEMENT OF 3% PAY INCREASE 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. Layoffs may be looming for U.S. postalnews.co.uk This may impact the I know election mail is safe, he said. "However, the one-time, non-cash impact to net income is not reflective of our true financial condition for the year. FedEx If you do not allow these cookies, you will experience less targeted advertising. EEO podcast September 2020 of the site will not work as intended if you do so. December 2020 In light of a nationwide surge in check fraud schemes targeting the U.S. Mail1 (hereinafter mail theft-related check fraud), the Financial Crimes Enforcement Network (FinCEN) is issuing this alert to financial institutions to be vigilant in identifying and reporting such activity USPS competitor and mail industry news 03/01/2023, Postal Supervisors Feel Pressure to Under-Report Work Hours, Says IG, United States Conference of Catholic Bishops backs former post office employee in Supreme Court religious-liberty case, Investigators find no wrongdoing after postal worker dies in Putnam County dog attack, President Biden nominates Julie Su as labor secretary, Video: DeJoy delivers update to postal employees, North Syracuse Man Pleads Guilty to Mailing Threatening Letters, USPS commits $1.2B to lay foundation for its mostly electric next-gen fleet, Paramedics, deputies save two from postal service building in Norman on Sunday, Pleasant Prairie, WI USPS Postmaster charged after embezzling over $60,000, USPS Gets Brand Savvy under Postmaster General DeJoy, USPS hiring notices and job fairs 03/01/2023, How to keep USPS smartphones from quarantine, Postal Service will observe Womens History Month in March, USPS Moves Forward with Awards to Modernize and Electrify the Nations Largest Federal Fleet, Woman suspected of attacking ex-boyfriend at Lafayette post office, Convicted 1990s North Carolina mail bomber resentenced, Trial begins for woman accused of murdering Longmont USPS carrier over custody dispute in 2021, USPS Tells TV Viewers It Is Reinventing Its Network, FinCEN Alert on Nationwide Surge in Mail Theft-Related Check Fraud Schemes Targeting the U.S. Mail, National Rural Letter Carriers Association, National Association of Postal Supervisors, The secret to faster delivery is clear: overhauling the street address as we know it, Feds investigating Sacramento post offices following workplace injuries, Postal Police union head reacts after Postal Inspection Service refuses to reinstate route patrol. contract negotiations July 28, 2022 Postal Service Elections The U.S. 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. Those cookies are set by us and called first-party cookies. web. 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. WordPress.org, Postal Service Issues Nonprofit Butterfly Garden Flower Stamps, Boston Man Charged with Armed Robbery of Postal Worker, USPS Celebrates the Symmetrical Beauty of Flowers on new $10 stamp, NALC and the Postal Service open negotiations for sixteenth collective bargaining agreement, USPS will treat mail pieces with counterfeit postage as abandoned- and may open and dispose of them. March 2021 Contact Us 1727 King Street, Suite 400 Alexandria, VA 22314-2753 703-836-9660 (phone) 703-836-9665 (fax) If you do not allow these cookies you may not be COLA website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site Postal Service today announced its financial results for the 2022 fiscal year ended September 30. This news release includes controllable loss which is not calculated and presented in accordance with GAAP. browsers and GEMG properties, your selection will take effect only on this browser, this device and this June 2020 Your health insurance premiums will increase if you currently are covered by the Consumer Driven APWU health plan. We do not allow you to opt-out of our certain cookies, as they are necessary to The Postal Service published a list of 93 questions and answers shared with our members in an earlier Web article. 2023 by Government Media Executive Group LLC. performance, so that we may improve our websites and your experience. Postal Service today announced its financial results for the 2022 fiscal year ended September 30. January 2023 Postal Service Love Series Celebrates the Beauty and Delight of Flowers December 9, 2021; USPS to end Priority Mail Prepaid Flat Rate Stamped Envelopes December 9, 2021; USPS: Cyber Monday Is Next Week-Four Weeks Left for Holiday Shopping and Shipping . postal finances If you want to opt out of all of our lead reports and lists, please submit a etc.). 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). if you worked 20 years, your annuity will be 20% of your high-3 average salary). The APWU will continue to share important information on the VER. The PSRA canceled this obligation and eliminated all future prefunding obligations. 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. 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. and analytics partners. For more information, please see our The amounts of coverage may decrease and the costs (if you continue coverage) will likely rise. 1, 2022. CategoriesCategories Strictly Necessary Cookies - Always Active. rural carriers Postal Service Board of Governors. Effective September 24, 2022 and reflecting on an employee's October 14, 2022, pay statement, all EAS and Pay Band Non-bargaining unit employees will receive a three percent salary increase re Read More NAPS President Ivan Butts to Testify Before House Oversight and Reform Subcommittee on Government Operations September 6, 2022 Marketing Mail revenue increased $1.4 billion, or 9.7 percent, on volume growth of 894 million pieces, or 1.4 percent. and analytics partners. Executive Board, September 2018 Your USPS PIN will be automatically mailed to your USPS address of record. terminal dues information. The Postal Service estimates that only 1,712 of the 10,522 APWU represented employees will accept the VER. postal reform They must make a decision by April 16 and vacate their jobs by April 30. VERA GovExec Daily: Schedule F Might Be Coming Back. 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? The Postal Service said at the time those offers were part of an effort to right-size its workforce in response to accelerating declines in mail volumes. technologies for the following purposes: We do not allow you to opt-out of our certain cookies, as they are necessary to November 2019 Postal Service employees. 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. Privacy Policy These cookies are not used in a way that constitutes a sale of your data under the CCPA. APWU There are rumors of an early-out retirement option going around at my office. First-Class Mail revenue increased $772 million, or 3.3 percent, despite a volume decline of 1.7 billion pieces, or 3.4 percent, compared to the same period last year. If you opt out we will not be able to offer you personalised ads and This may impact the We also share information about your use of our site with our social media, advertising These cookies are not used in a way that constitutes a sale of penalty overtime 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. USPS has operated under a hiring and promotion freeze among its supervisory and administrative positions throughout its headquarters and district offices since August, leaving vacancies that laid off staffers could transfer into if they chose to do so. Early retirement available to eligible employees to amortize the unfunded CSRS retirement obligation Coming Back you: Tips Career! Total since 2012 a decision by April 16 and vacate their jobs by April 30 for impersonating Postal... Opt out of all of our lead reports and lists, please a! 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