Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
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- Government Perspectives on Mobility and the Cloud
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
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- Air Traffic Management Transformation Report
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- General Dynamics IT Enterprise Center
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- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Monday - Friday, 6-9 a.m.
Host Tom Temin brings you the latest news affecting the federal community each weekday morning, featuring interviews with top government executives and contractors. Listen live from 6 to 9 a.m. or download archived interviews below.
Is there a solution in sight for the Postal Service's debt woes?
Tuesday - 8/24/2010, 10:08am EDT
The Postal Service ends the third quarter with a $3.5 billion dollar loss. But there are ways for the Postal Service to get back to black. Lorie Nelson is the Director of Financial Reporting for the USPS Office of Inspector General. She joined the Federal Drive to explain how the Postal Service might be able to use at least $5.5 billion of the $6.8 billion surplus in the Federal Employees Retirement System.
The postal service continues to pay more than its fair share of retieree health payments," and there's no present legislation to resolve that surplus.
The surplus was the result of the difference between the actual payouts and the overall liability that is estimated for the entire federal government, Nelson explained.
The agency is dealing with a two-pronged problem: the first is to mitigate the debt that it has despite accruing such a surplus, and the second is to change policy to stop future overfunding.
The postal service OIG's recommendation, Nelson said is for USPS to work with Congress to rectify the current surplus until it is spent, and to coordinate with OPM to change future practice.
"We've issued four reports in the past, and we are going to issue a summary report identifying overfunding issues in employees and retirees benefits funds," Nelson said. So there will be numbers as to what to expect for the 2011 fiscal year.