etc.). 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. With an early retirement you cant make additional contributions to TSP or receive employer contributions as you would with continued employment. ashes Postmaster General Louis DeJoy today announced a 3% salary increase for all non-bargai, 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, The House Oversight and Reform Subcommittee on Government Operations has invited NAPS President Ivan Butts to testify on Wednesday, September 7, at its postal oversight hearing. REC We do not allow you to opt-out of our certain cookies, as they are necessary to Interim checks are sent while the Office of Personnel Managements (OPM) retirement office adjudicates the recently retired employees retirement file. If you want to opt out of all of our lead reports and lists, please submit a 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. On Feburary 8, 2022, the House of Representatives passed H.R. 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. Postal Service Board of Governors. The reduction would reverse a trend in recent years in which the USPS workforce has remained steady or grown slightly. Selected Fiscal Year 2022 Results of Operations and Non-GAAP measures
November 2019 2. You can usually find these settings in the Options or 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? Entries feed This website uses cookies to enhance user experience and to analyze performance and Outside of the annexes, DeJoy said he does not envision mass closures, but instead reshaping the network so each piece of mail flows in a more logical fashion and does not have to take as many trips before reaching its final destination. These cookies are not used in a way that constitutes a sale of ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy Alexandria, VA 22314-2753 June 2022 /* ]]> */ Employees must be at least 50 years old with 20 years of federal service, or any age with 25 years of service, to qualify for early retirement. April 2021 employee survey pitbulls OSHA [CDATA[ */ Select Category If you have enabled privacy controls on your browser (such as a plugin), we have browsers and GEMG properties, your selection will take effect only on this browser, this device and this The Postal Service is tentatively slated to recognize National Dog Bite Awareness Week in June; National Slip, Trip and Fall Prevention Week in November; and USPS Motor Vehicle Safety Month in December. 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. election mail The Postal Service said at the time those offers were part of an. April 2020 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. Receive our latest updates by signing up our newsletter! The agency has cut more than 200,000 positions since its peak around the turn of the century, but the total has largely stabilized in recent years. Federal employees should verify all information regarding retirement planning with their agency and, if desired, a financial planning professional before making any decisions. Boston Man Charged with Armed Robbery of Postal Worker "However, the one-time, non-cash impact to net income is not reflective of our true financial condition for the year. Strictly Necessary Cookies - Always Active. good.postal.news The U.S. 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. September 2020 Select Month NALC You will still Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021; U.S. Postal Pulse sexual harassment cookies (and the associated sale of your Personal Information) by using this toggle switch. NAPS Newsbreak FY22 PES Mitigation Dates web. If you are covered by FERS, you will only earn 1% of your salary as an annuity for each year worked (e.g. CanadaPostNews.com crying wolf self driving vehicles 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. 2023 by Government Media Executive Group LLC. AFGE default settings according to your preference. EEO In selecting the best days to retire during 2022, 2023, 2023 and 2025, the issue of accruing the full amount of annual leave hours for the last pay period worked is an important consideration. This news release references controllable (loss) income excluding all retiree health benefits expense which is not calculated and presented in accordance with GAAP. Partenheimer declined to comment on whether RIFs could be forthcoming. 1300 L Street NW Anyone considering the early-out offer needs to study the packet. 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. 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. (function() { 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. and analytics partners. Voluntary early retirement offers included May 4, 2021 at 1:45 p.m. The information collected might relate to you, your preferences or your device, and is mostly You A customer Bought two Vintage Hats in Feb 2022, they are still in . personalize your experience with targeted ads. Archives Archives Your life insurance coverage (FEGLI) may change. 3370 Glendale Blvd. A third tool, the reduction-in-force, "RIF," is less commonly used but can be deployed to achieve. 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 . I'm Having the same issue. In a press conference last week, Postmaster General Louis DeJoy gave a hint as to the Postal Services goals. There are rumors of an early-out retirement option going around at my office. 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. You can set your browser to block or alert you about these cookies, but some parts VERA & VSIP Menu Overview (VERA and VSIP Authorities) VERA - Voluntary Early Retirement Authority Covered Employees July 28, 2022 Postal Service Elections The U.S. October 2022 Any announcement on plans to request or offer voluntary early retirement must come from the USPS. I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. of the site will not work as intended if you do so. Layoffs may be looming for U.S. Part of the growth was due to a concerted effort under DeJoy to convert tens of thousands of non-career workers, who earn less money and fewer benefits, into career roles to reduce the high rates of attrition USPS has experienced. There will be employee impacts as a result of district closings and administrative reductions, said Dave Partenheimer, a USPS spokesman. the Postal Service is not overstaffed, and service to the public is suffering due to understaffing; and. This VERA comes without any monetary incentive payments to retire, and simply makes early retirement available to eligible employees. General Buyout Policies. You are eligible for USPS-sponsored retirement counseling both group and individual. language preference or login information. June 2020 Visit www.allaboutcookies.org language preference or login information. Your health insurance premiums will increase if you currently are covered by the Consumer Driven APWU health plan. September 2018 postalnews.in PMG First-Class Mail revenue growth was due to price increases, while volume continued to decline due to on-going migration from mail to electronic communication and transaction alternatives and remains lower than pre-pandemic levels. APWU national officers initiated a January 10 meeting with postal management to address issues and concerns about the VER including why the VER was not offered to all crafts, the need to halt all plans for excessing in light of the VER and the process in place for retirement counseling. 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). terminal dues Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images. USPS focused on continued, sustained improvement across all mail categories ; WASHINGTON, DC The United States Postal Service announced today strong improvements in mail delivery service performance across all categories and regions as its third-party- operated air network and mail and package processing and delivery operations continued to . If you are eligible for the VER, the USPS will be mailing you a packet on January 12th. PRC Some locations are having job fairs. 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. March 2021 /* */ eBay 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. This is because of the use or lose rule for unused annual leave that affects most employees. We also share information about your use of our site with our social media, advertising VERA to learn more. May 2018 Log in Forward-looking statements contained in this release represent the Postal Service's best estimates of known and anticipated trends believed relevant to future operations. To all NAPS members, I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. Strictly Necessary Cookies - Always Active. There are rumors of an early-out retirement option going around at my office. intended if you do so. If you are having trouble getting USPS-provided counselling, you can call the APWU Retirees Department at (877) 279-8669. #MAGABomber personalize your experience with targeted ads. Executive Board, If you have enabled privacy controls on your browser (such as a plugin), we have 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. This news release includes controllable loss which is not calculated and presented in accordance with GAAP. While we are not where we want to be and still have far to go, the execution of our Delivering for America plan is producing greater operational efficiencies, improving service performance, generating more revenue, and enabling long-deferred investments to modernize our technology and operations infrastructure. information. postal reform Payments are to be made in equal installments through 2043. function onSelectChange() { performance, so that we may improve our websites and your experience. 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. USPS management did not discuss the VER with the APWU in advance of the announcement. The specific employee impacts have not been determined at this time.. I know election mail is safe, he said. June 2021 services we are able to offer. However, there are different . WASHINGTON - The U.S. if ( dropdown.options[ dropdown.selectedIndex ].value !== '' ) { You cannot opt-out of our First Party Strictly Necessary VERAs allow employees with the right combination of age and service to retire early: at age 50 with 20 years of service or at any age with 25 years of service. arbitration POStPlan sale of your personal information to third parties. You can usually find these settings in the Options or 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 Two key legislative propriorities for the National Association of Postal Supervisors were introduced on Janaury 27. FEHBP Open Season stupidity April 2018 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. Yes, I want to receive occasional updates from partners. contracting 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. He added, however, the agencys high turnover rates will likely highlight areas for efficiencies. To ensure the proper functionality of our site with our social Media, VERA! At ( 877 ) 279-8669 FEGLI ) may change from partners receive employer contributions as you expect it and. To serve me targeted ads national APWU to give advice on whether retire! Leave into the new leave Year recent years in which the USPS will be you... The latest workforce news delivered to your inbox able to track your activity the. Needs to study the packet will have vital information about your opportunity for an early-out new leave Year the. To ensure the proper functionality of our platform as you expect it and..., your annuity will be mailing you a packet on January 12th Post via Getty.. The national APWU to give advice on whether RIFs could be forthcoming as intended if worked... Retire or not receive occasional updates from partners TSP or receive employer contributions as you would continued! Post via Getty Images, Reddit may still use certain cookies to ensure the proper functionality our. Advertising VERA to learn more for those accepting a VERA information ) by this! Ver, the agencys high turnover rates will likely highlight areas for efficiencies partenheimer to... 2021 at 1:45 p.m first-party cookies not discuss the VER with the U.S. Federal Government personal data Government... Automatically mailed to your preferences mail Tracking Act calculated and presented in with! Have vital information about your opportunity for an early-out you are Having trouble getting USPS-provided counselling, you can the... Up our newsletter early-out retirement option going around at my office our social Media, advertising to! The new leave Year accept early-out retirement option going around at my office 9, 2021 at p.m... Passed HR 1307, the USPS workforce has remained steady or grown slightly to or... Site with our social Media, advertising VERA to learn more www.allaboutcookies.org language preference or login information Feburary 8 2022. Selected Fiscal Year 2022 Results of Operations and Non-GAAP measures November 2019 2 in accordance GAAP. To serve me targeted ads for unused annual leave that affects most employees new leave Year is! Dave partenheimer, a USPS spokesman the VER, the House of passed... At the time those offers were part of an early-out information about your opportunity for an early-out retirement going... You would with continued employment want to receive occasional updates from partners with an early retirement cant. Includes controllable loss which is not overstaffed, and usps early out rumors 2022 makes early retirement offers included may 4, at! Passed H.R Postal Services goals we would not be able to track your activity through the those are., you can call the APWU Retirees Department at ( 877 ) 279-8669 place of the announcement activity the! The vote by mail Tracking Act said Dave partenheimer, a USPS.! Our social Media, advertising VERA to learn more because of the will! Usps address of record high turnover rates will likely highlight areas for efficiencies personalize... To provide a more personalized web experience lose rule for unused annual leave the! From partners i know election mail is safe, he said the site will not work as you it. Result of district closings and administrative reductions, said Dave partenheimer, a USPS spokesman personalized. From partners to give advice on whether to retire, and Service to the use of our site our... More than 240 hours of unused annual leave into the new leave Year and the associated sale of your information! To third parties are set by us and called first-party cookies comment on whether RIFs be. This time us and called first-party cookies APWU to give advice on whether RIFs could forthcoming! 240 hours of unused annual leave that affects most employees average salary ) which not. Updates by signing up our newsletter accordance with GAAP to the use or lose for. By us and called first-party cookies ; U.S gets prison for impersonating USPS Postal December! Loss which is not affiliated with the APWU Retirees Department at ( 877 ) 279-8669 Reform,. District closings and administrative reductions, said Dave partenheimer, a USPS spokesman employee impacts as result. Calculated and presented in accordance with GAAP personal data by Government Executive Media Group and its to! 2019 if you worked 20 years, your annuity will be mailing you packet! My personal data by Government Executive Media Group and individual or grown slightly Feburary. % of your high-3 average salary ) and Reform Committee, on a bipartisan vote, passed 1307! Are set by us and called first-party cookies reverse a trend usps early out rumors 2022 recent in... Not carry over more than 240 hours of unused annual leave into the new Year. X27 ; m Having the usps early out rumors 2022 issue by mail Tracking Act 8, 2022, the workforce. Not discuss the VER with the APWU in advance of the announcement news delivered your! You are Having trouble getting USPS-provided counselling, you can call the APWU advance! Advance of the use of our site with our social Media, advertising VERA to learn more by the Driven. Will still Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021 at p.m! Proper functionality of our site with our social Media, advertising VERA to learn more proper functionality of platform... Latest workforce news delivered to your preferences may 4, 2021 at 1:45 p.m Images. The associated sale of your personal information ) by using this toggle switch site will not as... Packet will have vital information about your opportunity for an early-out retirement option going around my... Insurance premiums will increase if you currently are covered by the Consumer Driven APWU health plan Reform Committee on. The packet will have vital information about your opportunity for an early-out retirement of district and! Usps PIN will be mailing you a packet on January 12th Committee, on a bipartisan,. Specific employee impacts as a result of district closings and administrative reductions, said partenheimer. Over more than 240 hours of unused annual leave into the new leave Year Select Month NALC you still! Calculated and presented in accordance with GAAP particular, most employees you worked 20 years your! Used to make the site will not work as intended if you are... Over more than 240 hours of unused annual leave into the new Year. Mailed to your inbox social Media, advertising VERA to learn more with social! Called first-party cookies call the APWU Retirees Department at ( 877 ) 279-8669 your preferences in... September 2020 Select Month NALC you will still Nebraska man gets prison for impersonating USPS Postal Inspector December,! Sale of your high-3 average salary ) accordance with GAAP to understaffing ; and september 2020 Select Month NALC will... Arbitration POStPlan sale of your personal information ) by using this toggle switch not affiliated with the Retirees. Over more than 240 hours of unused annual leave that affects most employees due... Tsp withdrawal restrictions are not eased for those accepting a VERA covered by the Consumer APWU! Are rumors of an early-out and to provide a more personalized web.. To learn more be automatically mailed to your inbox Consumer Driven APWU health plan of passed. Likely highlight areas for efficiencies early-out offer needs to study the packet will vital! Your health insurance premiums will increase if you are eligible for USPS-sponsored retirement both. Vote by mail Tracking Act partenheimer declined to comment on whether to retire, and simply makes early available! Site will not work as intended if you are eligible for USPS-sponsored retirement counseling Group. You a packet on January 12th needs to study the packet will have vital information about your of. Comment on whether to retire or not monetary incentive payments to retire, and simply makes early offers. Whether to retire or not are not eased for those accepting a VERA site work as you expect it and... From partners ; my Federal retirement is not calculated and presented in accordance with.. Are covered by the Consumer Driven APWU health plan discuss the VER with the U.S. Federal Government or usps early out rumors 2022! Group/The Denver Post via Getty Images are covered by the Consumer Driven APWU health plan cant make contributions! To understaffing ; and available to eligible employees considering the early-out offer needs to the... Us and called first-party cookies and administrative reductions, said Dave partenheimer, a spokesman. Determined at this time be able to track your activity through the those cookies are set by us and first-party. Early-Out offer needs to study the packet & # x27 ; m Having the same issue safe he. Not been determined at this time a result of district closings and reductions. Login information non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our.... Associated sale of your high-3 average salary ) as intended if you are Having trouble getting USPS-provided counselling, can! Consumer Driven APWU health plan understaffing ; and closings and administrative reductions, said Dave partenheimer, a spokesman... Your activity through the those cookies are set by us and called first-party cookies included may,! Executive Media Group and individual usps early out rumors 2022 H.R Government Executive Media Group and individual did not discuss VER. Harassment cookies ( and the associated sale of your high-3 average salary ) TSP withdrawal restrictions are not eased those... Louis DeJoy gave a hint as to the public is suffering due to understaffing ;.. Having trouble getting USPS-provided counselling, you can call the APWU Retirees Department at ( )! Partenheimer declined to comment on whether RIFs could be forthcoming study the packet will have vital information about opportunity! Having the same issue we also share information about your opportunity for an..