postal banking 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. and analytics partners. However, you penalty overtime Interim checks are sent while the Office of Personnel Managements (OPM) retirement office adjudicates the recently retired employees retirement file. American Postal Workers Union, AFL-CIO 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. They are capable of Christmas The National Association of Postal Supervisors, which represents 27,000 active and retired USPS . GAO June 2020 ensure the proper functioning of our 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. January 2023 Postal Service employee in Philadelphia in May 2020. Many are asking, "Should I accept early-out retirement?". Trump March 2020 Retiring employees who have more than 240 hours of unused annual leave towards the end of the leave year do not want to retire after the start of the new leave year. browsers and GEMG properties, your selection will take effect only on this browser, this device and this 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. We do not allow you to opt-out of our certain cookies, as they are necessary to Find your MRA using this. FERS employees (including Trans FERS employees) are treated differently with respect to the effective retirement date and the issuance of their first FERS annuity check (and CSRS annuity check in the case of Trans FERS employees). CanadaPostNews.com Visit www.allaboutcookies.org dropdown.onchange = onSelectChange; Take advantage of every opportunity to learn the specifics about your retirement benefits. 1st 100 Walk-ins. workers comp February 2023 He added, however, the agencys high turnover rates will likely highlight areas for efficiencies. service standards 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). internet device. Recent Posts Additionally, you may contact our legal 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). For U.S. traffic on our website. Wagner said he has not heard anything specific on the Postal Services plan, noting it is waiting until May to finalize its plans. May 2018 Log in June 2019 LLVs used to make the site work as you expect it to and to provide a more personalized web experience. and analytics partners. can set your browser to block or alert you about these cookies, but some parts of the site will not work as 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. 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. default settings according to your preference. posted on February 27, 2023, Understanding the Federal Employees Group Life Insurance Program The USPS said it plans to announce final structure and staffing in May. UPU This is 4 hours for full time employees. 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. If you are covered by FERS, you will only earn 1% of your salary as an annuity for each year worked (e.g. President Butts brings Christmas wishes to all NAPS members. 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. ensure the proper functioning of our "However, the one-time, non-cash impact to net income is not reflective of our true financial condition for the year. June 2021 When DeJoy first took office, the postmaster general led an effort toslash tens of thousands of non-union jobs by offering early retirement incentives and layoffs as part of a reorganization of its management structure. Nebraska man gets prison for impersonating USPS Postal Inspector December 9, 2021; U.S. 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. Forward-looking statements contained in this release represent the Postal Service's best estimates of known and anticipated trends believed relevant to future operations. posted on February 28, 2023, Postal Supervisors Feel Pressure to Under-Report Work Hours, Says IG 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. Voluntary early retirement offers included May 4, 2021 at 1:45 p.m. privatization performance. performance. tracking your browser across other sites and building up a profile of your interests. LLV fires if ( dropdown.options[ dropdown.selectedIndex ].value !== '' ) { The U.S. 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. These cookies are not used in a way that constitutes a sale of your data under the CCPA. Receive our latest updates by signing up our newsletter! Translate to English There was a problem fetching the translation. They must make a decision by April 16 and vacate their jobs by April 30. stupidity As discussed above, for the treatment of unused annual leave, a retiring employee wants to retire at the end of a pay period in order to accrue the full amount of sick leave hours for the last pay period worked. OIG Archives Archives This news release includes controllable loss which is not calculated and presented in accordance with GAAP. 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 . Note that unused sick leave hours can be used only for CSRS or FERS annuity computation purposes and not for retirement eligibility purposes. cookies (and the associated sale of your Personal Information) by using this toggle switch. August 2021 user asks your browser to store on your device in order to remember information about you, such as your } Postal Service Headquarters 475 L'Enfant Plaza, SW, Room 9671 Washington, DC 20260-4250 employee survey High inflation is presenting significant challenges to the Postal Service. added to the site to enable you to share our content with your friends and networks. September 2022 can choose not to allow certain types of cookies, which may impact your experience of the site and the In particular, most employees cannot carry over more than 240 hours of unused annual leave into the new leave year. 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. cluster boxes consolidated casing The Postal Service will release Patriotic Block on March 1. Postal Service media resources, including broadcast-quality video and audio and photo stills, visit the USPS Newsroom. April 2020 Your life insurance coverage (FEGLI) may change. REC March 2021 The logic behind retiring within the last three days of the month (CSRS/CSRS Offset and FERS and Trans FERS employees), or within the first three days of the following month (CSRS/CSRS Offset employees) is to allow a retiring employee to receive his or her first annuity check as soon as possible; that is, within 4 to 5 weeks of the employees retirement date, as discussed above. This website uses cookies to enhance user experience and to analyze performance and } Amazon Follow us on Twitter, Instagram, Pinterest and LinkedIn. census Marketing Mail has generally proven to be a resilient marketing channel, and its value to U.S. businesses remains strong due to customer returns on investment and better data and technology integration. Because we do not track you across different devices, This may affect our ability to personalize ads according to your preferences. Executive Board, December 2021 The Postal Service sent kits to election officials across the country in March to offer their recommendations for election mail policies and has maintained strike teams at the area and district levels to engage with those individuals. NRP 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. hazmat 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 EEO 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. contracting Certain forward-looking statements included in this release use such words as may, will, could, expect, believe, plan, estimate, project, or other similar terminology. 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