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5:07 am, August 28, 2014

USPS News

Analysis: $5.5B default fails to inspire urgency over Postal Service bill

Although the word "default" might elicit a sense of urgency in most people, it doesn't appear to be inspiring lawmakers to take action on the proposed Postal Service bill. USPS is expected to default on $5.5 billion in pension costs that it owes to the Treasury.

Wednesday - 08/01/2012, 12:28pm EDT
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USPS: We will default on $5.5B payment due this week

The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency's solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink. With cash running perilously low, two legally required payments for future postal retirees' health benefits - $5.5 billion due Wednesday, and another $5.6 billion due in September - will be left unpaid, the mail agency said Monday.

Monday - 07/30/2012, 05:48pm EDT
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Sequestration and pay

AFGE's Public Policy Director Jacque Simon and Stephen Losey and Sean Reilly of the Federal Times will talk about the big issues affecting federal workers.
July 25, 2012

Wednesday - 07/25/2012, 07:17pm EDT
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IG encourages USPS to consider offering non-postal services

The U.S. Postal Service may be overlooking a potential source of revenue, according to a report from its inspector general. Offering nonpostal services presents several challenges, but it may also be a viable option for the struggling institution, the report concluded.

Wednesday - 07/25/2012, 04:45pm EDT

A new retirement option for feds

Federal Times Senior Staff Writer Stephen Losey will give us an update on a new retirement law...and other legislation affecting federal workers.
July 11, 2012

Wednesday - 07/11/2012, 07:01pm EDT
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USPS fighting back against the insider threat

The Postal Service's E-Access system helps control employee access to systems and data. The single sign-on environment lets managers and database owners assign privileges to employees based on need.

Friday - 07/06/2012, 05:33am EDT
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Pentagon to begin online delivery of US mail

Employees in the Pentagon will be able to access their postal mail via a web-based interface and decide how to handle each envelope.

Tuesday - 07/03/2012, 01:42pm EDT
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Some advocate for banking services as USPS savior

The Postal Service should once again offer government-backed savings and accept deposits like it did in 1911, an expert said. Those services have proved to be effective money- makers in foreign postal systems, generating up to 50 percent of their revenue.

Wednesday - 06/27/2012, 06:40am EDT
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Congress running out of time to pass priority bills

Lawmakers have about 23 real work days left before the end of the fiscal year to pass USPS reform, comprehensive cyber, DoD authorization and all the 2013 spending bills. Experts hold out little hope even after the passage of the FDA bill and the expected approval of the highway legislation.

Wednesday - 06/27/2012, 05:08am EDT
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USPS executives shift to fill interim positions

Joseph Corbett, the Postal Service's chief financial officer, is filling in for Chief Information Officer Ellis Burgoyne, who is on extended sick leave.

Tuesday - 06/26/2012, 10:51am EDT

USPS overpays pension obligations by $13.1B, report says

A new inspector general audit revealed that the Postal Service has overfunded its pension benefit obligations by nearly 105 percent. While this might seem to be good news for the cash- strapped agency, legislative action will be required for USPS to get back the $13.1 billion surplus it paid into its employees' pensions.

Tuesday - 06/26/2012, 07:15am EDT

USPS offers work option to retired postmasters

Part-time work will be available to postmasters eligible for optional retirement and those under the current Voluntary Early Retirement offering. Participation will not affect annuity payments.

Monday - 06/18/2012, 06:24pm EDT

What's next for feds?

NARFE president Joseph Beaudoin and Federal Times reporters Stephen Losey and Sean Reilly join host Mike Causey to talk about a wide variety of issues affecting federal workers.
June 6, 2012

Wednesday - 06/06/2012, 10:24pm EDT
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Covering your assets

Host Mike Causey will talk retirement, the TSP, and more with attorney Tom O'Rourke and Federal Times senior writer Stephen Losey.
May 30, 2012

Wednesday - 05/30/2012, 09:31pm EDT
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Federal Drive interviews -- May 29

John Hegarty, national president of the National Postal Mail Handlers Union, talks about the Postal Service's early retirement offer.

Tuesday - 05/29/2012, 09:29am EDT

USPS offers buyouts to 45,000 mail handlers

The U.S. Postal will offer buyouts and early retirements to more than 45,000 mail handlers, USPS announced Friday. Employees opting for the early-out will receive a $15,000 incentive payment — half to be paid in December, and the other half to be paid in December 2013. The new buyout offers are the result of "in depth discussions" between USPS and the National Postal Mail Handlers Union and an agreement that was inked Tuesday.

Friday - 05/25/2012, 07:40pm EDT
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Fed salaries, USPS, and more

Host Mike Causey will talk about several issues affecting federal workers with Bill Bransford, general counsel of the Senior Executives Association and Steve Watkins and Stephen Losey of the Federal Times.
May 23, 2012

Wednesday - 05/23/2012, 08:09pm EDT
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USPS moves ahead with closings, staff reductions

The nearly bankrupt U.S. Postal Service is moving ahead with plans to close and consolidate 229 mail-processing facilities. Postmaster General Patrick Donahoe (pictured) said the postal service can no longer wait for Congress to decide how to cut postal costs, and the processing network had simply become too big and too costly. The consolidations are expected to reduce the USPS workforce size by 28,000 employees.

Thursday - 05/17/2012, 02:11pm EDT
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Postal shakeup, pensions, GSA fallout

Host Mike Causey will talk postal reform and other issues with Sally Davidow of the American Postal Workers Union, and Steve Watkins and Sean Reilly of the Federal Times.
May 16, 2012

Wednesday - 05/16/2012, 08:23pm EDT
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USPS to offer buyouts to 21,000 postmasters

As part of a cost-savings plan designed to halt the closings of rural postal facilities, the U.S. Postal Service said it would offer $20,000 buyout incentive payments to 21,000 full-time postmasters.

Wednesday - 05/09/2012, 08:44pm EDT
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