web. 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. 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. Terms of Service USPS.com is the website for the United States Postal Service. of the site will not work as intended if you do so. 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. sale of your personal information to third parties. website. The information has been obtained from sources considered to be reliable. Video. to learn more. technologies for the following purposes: We do not allow you to opt-out of our certain cookies, as they are necessary to June 2022 Full Outage Map. You can usually find these settings in the Options or Preferences menu of your NEXT STORY: 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. 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. browsers and GEMG properties, your selection will take effect only on this browser, this device and this Some points to consider when making your decision: Make your decision on complete and accurate information about your retirement benefits. browser. 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. WASHINGTON - The U.S. 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. It has delivered 99.5% of completed ballots from voters back to election officials within three days, marking an improvement on the 97.9% rate it oversaw in 2020. to take that as a valid request to opt-out. 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. The PSRA canceled this obligation and eliminated all future prefunding obligations. Postal Service employee in Philadelphia in May 2020. The USPS restructuring's third and final phase will include a reduction in force and a voluntary early retirement option for eligible employees. Financial results in the Form 10-K are available at http://about.usps.com/what/financials/. posted on February 28, 2023, Panel Backs Bill to Make Censorship a Firing Offense for Federal Employees The retired employees first CSRS annuity check will then be dated Feb. 1, 2022. April 2020 services we are able to offer. September 2019 For further information, please contact Ms. Susan LaChance, Manager, Selection, Evaluation, and Recognition, at: U.S. As it implements these changes, the Postal Service is also gearing up for its role in the 2022 midterms. The National Association of Postal Supervisors, which represents 27,000 active and retired USPS . Postal Service is leaving the door open to involuntary layoffs as it seeks to downsize its managerial and administrative staff, part of an ongoing effort to reorganize the agency. Amazon to learn more. website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site The United States Postal Service awarded contracts today for 9,250 commercially available left-hand drive (LHD) battery electric vehicles (BEVs) as well as initial orders for more than 14,000 charging stations to be deployed at Postal Service facilities LAFAYETTE, Ind. Visit www.allaboutcookies.org This is 4 hours for full time employees. 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). He commended postal management for working closely with his organization throughout the process and said he expects affected employees would likely have an opportunity to take a reassignment to avoid a layoff. dogs dropdown.parentNode.submit(); An employee must be in employee status for his or her entire last pay period of work (that is, the retiring employee must have worked the full 80 hours) in order to accrue the full amount of annual leave hours for that last pay period. CVS })(); Personal Information. This assumes that the end of pay period 26 (the end of the current leave year) occurs between Dec. 31st and Jan. 13th. November 2022 I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. UPU use third-party cookies which are cookies from a domain different than the domain of the website you are 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. will not hand over your personal information to any third parties. language preference or login information. Cookies as they are deployed in order to ensure the proper functioning of our website (such as prompting the browsers and GEMG properties, your selection will take effect only on this browser, this device and this If you are under the Minimum Retirement Age (MRA), you will not receive the Social Security Supplement until you reach the MRA. For FERS and Trans FERS employees, the best day of the month to retire is within the last three days of the month. Executive Board, function onSelectChange() { [CDATA[ */ and analytics partners. These cookies collect information for analytics and to At least five (5) years of that service MUST be creditable civilian service, not military service. To all NAPS members, For employees in the Civil Service Retirement System, the annuity is reduced 2 percent for each year workers are un- der age 55. The Postal Service has another busy year in 2022. to take that as a valid request to opt-out. June 2020 see some advertising, regardless of your selection. Interim checks are sent while the Office of Personnel Managements (OPM) retirement office adjudicates the recently retired employees retirement file. BOG 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. In a press conference last week, Postmaster General Louis DeJoy gave a hint as to the Postal Services goals. The government's main tools to boost turnover are early retirements, and buyout incentives. 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. if ( dropdown.options[ dropdown.selectedIndex ].value > 0 ) { postal reform If you want to opt out of all of our lead reports and lists, please submit a Search Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021; U.S. letter carriers You can usually find these settings in the Options or The plan will reduce the size of our administrative organization, which is not uncommon when we go through big, big reorganizations and reestablishment of what youre going to be doing in the future, the postmaster general said. Primer: Early out, buyout, reduction in force (RIF), OPM to Override Trump-Era Rules on Federal Employee Discipline, How Your FERS, Social Security and TSP Payments Get Taxed With an early retirement you cant make additional contributions to TSP or receive employer contributions as you would with continued employment. privatization December 2021 PAEA 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. An incentive payment is the lowest of: the amount of severance pay you would get if separated involuntarily; $25,000 (generally; amounts can be lower); an amount . If you have enabled privacy controls on your browser (such as a plugin), we have The Postal Service unilaterally announced earlier today that it is offering Voluntary Early Retirement (VERA) to eligible mail handlers throughout the United States. "However, the one-time, non-cash impact to net income is not reflective of our true financial condition for the year. 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). Follow us on Twitter, Instagram, Pinterest and LinkedIn. (function() { Those cookies are set by us and called first-party cookies. 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. determining the most relevant content and advertisements to show you, and to monitor site traffic and GAO Executive Board, MAGABomber For more information about the First and Third Party Cookies used please follow this link. USPS is in the process of implementing another part of DeJoys vision as it consolidates facilities and reduces its physical footprint. When you visit our website, we store cookies on your browser to collect November 2019 The next price adjustment for market-dominant products is scheduled to happen in July. July 2020 FEHBP At approximately 2200 EST on October 30, October 28, 2022 February 2018 594, focuses on providing EAS level postal employees wi, NAPS Headquarters has been officially notified that all exempt Postmasters level 22 and below and all exempt Station Managers of Customer Service will be entitled to additional pay should the. USPS Celebrates the Symmetrical Beauty of Flowers on new $10 stamp "As we previously mentioned in the third quarter release, the enactment of the PSRA was a key component of improving the Postal Service's financial condition," said Chief Financial Officer Joseph Corbett. information. Employees may use military service to meet the balance of service required for eligibility. delivery problems September 2021 Are set by us and called first-party cookies [ * / and analytics partners which! Checks are sent while the Office of Personnel Managements ( OPM ) retirement Office adjudicates recently. 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