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4:18 pm, November 27, 2014

USPS News

US Postal Service to default on second $5B payment

The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can't afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency's viability now lies almost entirely with Congress.

Friday - 09/28/2012, 07:02am EDT
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USPS defaults a second time as legislation stalls

For the second time in as many months, the cash- strapped U.S. Postal Service says it will default on a required payment to fund future postal retirees' health benefits. The announcement comes after the agency similarly missed a $5.5 billion payment last month, and as longterm legislative solutions languish in Congress.

Thursday - 09/27/2012, 04:33pm EDT

Sequestration and health care

Host Mike Causey will discuss the potential impact of sequestration with Janet Kopenhaver from Federally Employed Women, and Stephen Losey and Sean Reilly from the Federal Times.
September 26, 2012

Wednesday - 09/26/2012, 09:24pm EDT
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Retirement, sequestration, and more

NARFE Director of Benefit Services David Snell and Steve Watkins and Sean Reilly of the Federal Times will talk about issues that could affect your retirement.
September 19, 2012

Wednesday - 09/19/2012, 06:47pm EDT
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Few retired feds cash in on dual compensation

Among six federal agencies surveyed, few are using a defense waiver allowing partially retired workers to collect a salary and their full pension benefit, a new Government Accountability Office report says.

Tuesday - 09/11/2012, 04:01pm EDT

Congress faces continuing resolution, sequestration and postal reform

Lawmakers returned to Washington, D.C., this week with a packed agenda. Topping the list of priorities is hammering out final details of a stopgap spending measure to keep the government running beyond the end of the fiscal year -- Sept. 30. Amid the election-year politicking, the list of unfinished business also includes legislation to restructure the financially ailing U.S. Postal Service and a cybersecurity bill that aims to safeguard the nation's critical infrastructure. Perhaps looming largest of all is what Congress plans to do about automatic, across-the-board cuts, known as sequestration, set to take effect Jan. 2. Failure to avert the cuts could send the country over a "fiscal cliff," budget experts warn.

Monday - 09/10/2012, 06:47pm EDT

USPS offers early outs to 3,300 workers

To avoid lay-offs, this week the mail agency offered early retirements to more than 3,300 employees who will retire Dec. 31, 2012.

Tuesday - 08/28/2012, 08:59am EDT

Postal regulators OK shorter post office hours

Postal regulators agreed with a Postal Service plan to cut the window hours at 13,000 post offices. Operating hours will be cut to six, four or even two hours per weekday at these locations.

Friday - 08/24/2012, 01:13pm EDT

Sequestration, the Ryan budget, and more

Host Mike Causey moderates a roundtable discussion of sequestration, postal service buyouts, and more.
August 15, 2012

Wednesday - 08/15/2012, 06:56pm EDT
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'Crisis of confidence' as USPS posts $5.2 billion quarterly loss

The Postal Service lost $5.2 billion in the third quarter of this year, bringing its year-to-date tally of red ink to $11.6 billion for the first nine months of 2012. The USPS chief financial officer said the organization's liquid assets are running perilously low. Postmaster General Patrick Donahoe faults an "inflexible" business model and urged action by Congress.

Friday - 08/10/2012, 05:36am EDT
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Fed pay, the postal service, and more

NTEU president Colleen Kelley and Steve Watkins and Andy Medici from the Federal Times will talk about some of the big a wide variey of issues affecting federal workers.
August 1, 2012

Wednesday - 08/01/2012, 08:38pm EDT
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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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