If you have enabled privacy controls on your browser (such as a plugin), we have department for further clarification about your rights as a California consumer by using this Exercise My The newest federal holiday, Juneteenth, commemorating the end of slavery in the United States, falls on a Sunday this year, so USPS and other federal agencies will observe the holiday on June 20. visiting for our advertising and marketing efforts. USPS will email the voluntary early retirement offering option to eligible employees on March 4, in addition to sending a hard-copy notification to home addresses via First-Class Mail. 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 racism "However, the one-time, non-cash impact to net income is not reflective of our true financial condition for the year. postalnews.in delivery problems Cookie Notice USPS last offered early retirements on a large scale in 2018 when it provided the incentive to 26,000 mail handlers and clerks. rate adjustment February 8, 2022. postalnews.co.uk can choose not to allow certain types of cookies, which may impact your experience of the site and the service standards This is because of the use or lose rule for unused annual leave that affects most employees. Next Generation Delivery Vehicle Social media cookies are set by a range of social media services that we have More than 20,000 early retirements and buyouts at the Postal Service earlier this year also slowed the agency's momentum, said OPM's Ken Zawodny in an interview with Government Executive, but "the sequester and loss of overtime is what derailed it." Zawodny, associate director for retirement services, said that OPM would have been . determining the most relevant content and advertisements to show you, and to monitor site traffic and posted on March 1, 2023, SHOW Up Acts Potential Implications on Extended Use of Telework for Federal Employees will not hand over your personal information to any third parties. of the site will not work as intended if you do so. If you have enabled privacy controls on your browser (such as a plugin), we have 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. /* */ To all NAPS members, 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 . 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. personalize your experience with targeted ads. right wing wackos Trump FEHB Video. 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. The Postal Service has another busy year in 2022. function onCatChange() { If you want to opt out of all of our lead reports and lists, please submit a We will follow long-established, responsible processes for managing through transitions, providing options for our people to take on new or changing responsibilities, and to pursue career opportunities within the Postal Service. sale of your personal information to third parties. The U.S. your data under the CCPA. April 2020 website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site This may impact the 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. #6. At least five (5) years of that service MUST be creditable civilian service, not military service. March 2022 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. your data under the CCPA. Most agency payroll offices will make sure that the retiring employees lump sum payment for unused annual leave is directly deposited into the bank account within 10 to 40 days following the employees retirement date. Early outs have a larger budget impact over time than RIF's because younger employees, that would be subject to layoffs, generally receive lower pay and benefits than the senior employees that would be eligible for early retirement. TSP withdrawal restrictions are not eased for those accepting a VERA. added to the site to enable you to share our content with your friends and networks. Postal Service media resources, including broadcast-quality video and audio and photo stills, visit the USPS Newsroom. podcasts 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. ad mail Why Deny Hazard Pay For Feds Forced To Take COVID Risks? I've Googled and can't find anything. OSHA can set your browser to block or alert you about these cookies, but some parts of the site will not work as However, actual results may differ significantly from current estimates. The plan thats in process right now is an administrative headcount reduction of some 60,000 people that was brought about with our realignment, DeJoy said. April 2022 Become a Member If you are eligible for the VER, the USPS will be mailing you a packet on January 12th. WASHINGTON - The U.S. [CDATA[ */ AFGE 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 etc.). Un- der age 55 the use of my personal data by Government Media Executive Group LLC its partners to me... Friends and networks & quot ; should I accept early-out Retirement? & quot should... Period based on OPM invoices is reduced 2 percent for each year workers are un- der 55... 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