Click on this Link to the Federal Retirement Newsletter:
Postal Service Reform Act of 2022 from NARFE news 3/19/2022
Comparison of PSHB and FEHB
The Postal Service Reform Act of 2022 creates a new Postal Service Health Benefits (PSHB) program within the Federal Employees Health Benefits (FEHB) program starting in January 2025. All postal employees and postal annuitants will be offered their earned health benefits through the PSHB program at that time.
The PSHB is designed to provide plans that mirror current FEHB plans but with different rates to reflect a separate, postal-only risk pool and cost savings accrued from increased Medicare integration.
Actuarial analysis of the new PSHB program found that it should lower average costs of coverage, and, therefore, plan premiums, for both PSHB and FEHB program plans, benefitting postal and nonpostal enrollees. As such, PSHB plans should provide the same coverage to postal employees and retirees, but with lower premiums.
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POSTAL REFORM BILL
Hi every one, 3/14/2022
As most of you already know, the Postal Reform Bill passed the Senate last week and is waiting for the Presidents signature to become law. There have been several questions raised about the new Postal-only Health Plan and who will be covered by it. It is my understanding that all working employees will be switched to the new plan unless they are 64 years old or older by the time the new plan takes effect in 2025. Those 64 or older would have a choice to stay in the old FEHPB plans and NOT take Medicare Part B when they retire, or if they choose to take Part B, they will be placed into the new Postal only plans.
Anyone already retired who has Part B will be switched to the new Postal Plan as well.
Any retiree who has not taken Part B will remain in the current FEHPB plans. However anyone retired who is not participating in Part B will be given an opportunity to join Part B with no late penalty incurred, and they will be switched to the new Postal Plans.
I hope this answers some of the questions that people have. I know it’s confusing…
POSSIBLE DELAY TAX FORMS: from www.myfederalretirement.co 1/31/2022
2021 1099-R Tax Forms for CSRS and FERS annuitants
The Office of Personnel Management (OPM) will mail 1099-R forms for 2021 by January 31. Depending on where the annuitant lives, mailed 1099-R tax forms may not be received until mid-February. An annuitant with a Retirement Services Online (RSO) account under OPM can access the 2021 1099-R online. Go to: https://www.servicesonline.opm.gov/
NOW AVAILABLE: from Bill Tierney 01/20/2022
2021 1099-Rs are available via the OPM Retirement Services Website. I still get a copy mailed to me, but nice having the ability to get it early if you want. Happy Tax Season!
NEW YEAR RESOLUTION - VERIFY BENEFICIARIES 1/5/2022
Too often, we name beneficiaries, and then LIFE happens. Divorce, marriage, births, deaths etc. happen. Too often, we forget to update beneficiaries on the main four federal employee/retiree benefits to be paid at the time of your death. The information below is from www.myfederalretirement.com. Additional information is available at: https://www.myfederalretirement.com/beneficiaries-tips/
There are four main kinds of federal employee benefits available to be paid out upon the death of a federal employee or retiree: Lump sum payments from CSRS or FERS; Unpaid compensation (including any unpaid annual leave, travel vouchers or earned comp time; Thrift Savings Plan; and Federal Employee’s Group Life Insurance. You probably filed your beneficiary designations many years ago, when you were first hired—and for some, that’s 25 to 30 years ago or more. If you can’t remember who you named, it’s been too long. The good news is that naming a beneficiary or even several beneficiaries is easy. For CSRS employees, for those lump sums available, you’ll complete the SF-2808. The FERS version of that same form is the SF-3102. For the unpaid compensation, you have the SF-1152. For TSP, you have the TSP Form 3 and then for FEGLI, you have the SF-2823. All the forms you need are available at www.fedimpact.com/beneficiaries.
The UPMA Fifth Annual National Convention
Congratulations Ohio, you built it…and they came. We hosted over 900 attendees at the UPMA National Convention at the Kalahari convention center and resort in the lakeside community of Sandusky
Ohio. Postmasters, managers, retirees, their guests; spouses, children, and friends were here. By all accounts the Ohio Chapter’s presentation was a grand success.
Our Chapter’s hard work and dedication was evident throughout the convention center. The behind-the-scenes preparations before, continuous efforts during, and wrap up at the convention’s conclusion were the culmination of two years of planning by Mari Beth Kirkland and Lou Stuckey with the support of 70 members and guests from Ohio.
While registration for the convention began Saturday morning, the three days prior to Monday’s official start were reserved for official meetings of the Executive Boards of the UPMA, UPMA retired
and UPMA Auxiliary organizations. Break out sessions were held for Chapter Presidents, Secretary Treasurers, Editors, membership, Legislative and PAC chairpersons as well. There was even a session
for the UPMA BRATS (Bringing Real Attributes to Society) the children in attendance.
In the evening our chapter scheduled classes in photography and fused glass jewelry. Members participated in a trivia night, took a sunset cruise, and were entertained by the dueling pianos of the Cleveland Keys.
Monday’s business session was highlighted by our Guest Speaker, Postmaster General of the United States Postal Service, Louis DeJoy. PMG DeJoy spoke to the issues of today’s Postal Service. While
we are indeed the most powerful delivery network in the world, we are also burdened with 150 billion dollars of negative equity. His plan, “Delivery for America”, is a smart, intellectual, and
forceful procedure to move forward into our future. PMG DeJoy stated he is committed to maintaining six-day delivery and the return to self-sustainability. Privatization is not a solution to the
issues involving the postal service.
In fact, he remarked that our competition should not be at our loading docks. We will rework the contracts with the competitive delivery services and capitalize on two day and next day delivery. We and we alone have the delivery network to do it. He believes that his plan is the operational solution to ensuring the United States Postal Service thrives.
PMG DeJoy opened the session to questions from the membership and continued to state that he is determined to optimize our service and maintain our workforce.
The four days of general sessions were devoted to the business of the UPMA, reports from officers, legislative teams, the Political Action Committee, and many others. There were awards for individual and chapter accomplishments as well as luncheons, dinners, a golf outing, and local tours. The convention culminated in the Grand Banquet Thursday evening. The evening concluded with a wonderful theme-oriented skit performed by your Ohio Chapter. Our convention co-chairs said goodbye to the membership and wished them safe journeys home.
The 2022 national convention will be held in St. Louis Missouri.
ANOTHER SUCCESSFUL CONVENTION: from President Retired Rodney
I would like to extend a big thank you to everyone who participated in the 2021 UPMA National Convention. First to the Ohio chapter for hosting the convention. A really big thanks to Maribeth and Lou and the entire convention committee for all of the hard work that went into the planning of the convention. Big thanks to Dan, Gerri, Dave and Frank at the national office for all of their hard work for the convention. And of course, to all of the members both active and retired whose attendance made the convention a success. Without you, there would not be a convention.