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USPS warns of default on retiree benefits

Without action from Congress, the U.S. Postal Service will default on its obligations to future retirees' health care accounts. Next up are payments to employees and vendors, the postmaster general told Congress Tuesday.

Tags: Congress , pay and benefits , management , USPS , FERS , Tom Carper , Pat Donahoe , Susan Collins , Mark Strong , National League of Postmasters , Jared Serbu

Wednesday - 05/18/2011, 07:41am EDT
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Six Percent Pay Cut is Halfway Home

Senior Correspondent Mike Causey has something to take your mind off the possibility of an extended pay freeze. Forget about that and concentrate on the highly-likely prospect of a 5 to 6 percent permanent pay cut.

Tags: pay and benefits , Mike Causey , retirement funding , FERS ,

Friday - 05/13/2011, 04:00am EDT

Tiny Bubbles are Back in the COLA

Federal and military retirees have been on a no-calorie diet for the past two years. But they may be in line for a cost of living adjustment in January 2012. Senior Correspondent Mike Causey crunches the numbers.

Tags: pay and benefits , Mike Causey , COLA , FERS

Monday - 04/18/2011, 04:00am EDT

The good old days for feds - both of them!

Most individuals have a time period they consider the good old days...when kids were kids...people didn't lock their doors. But Mike Causey says that for many federal workers the good old days didn't last very long because they only included last weekend!

Tags: shutdown , pay and benefits , Mike Causey , federal report , pay freeze , deficit reduction commission , COLA , FERS

Thursday - 04/14/2011, 05:46pm EDT

USPS financial rescue may not stop 'death spiral'

Postmaster General Pat Donahoe said he's ready to announce more RIFs and without legislative help USPS will face insolvency this year. Sen. Susan Collins introduced a bill to help solve some of the challenges the Postal Services faces.

Tags: management , pay and benefits , Susan Collins , Stephen Lynch , Pat Donahoe , Darrell Issa , Dennis Ross , USPS , Senate Homeland Security and Governmental Affairs , House Oversight and Government Reform Committee , FERS , budget , Jason Miller

Thursday - 03/03/2011, 07:00am EST
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USPS shrinks workforce, changes pension

Patrick Donahoe became the 73rd Postmaster General Friday, assuming control of the Postal Service in the midst of a fiscal crisis. Donahoe said USPS will reduce its workforce by another 7,500 people in 2011. Still, he's optimistic about the future. In the short term, however, the reality is that postal workers are likely to suffer while the agency tries to balance its books.

Tags: pay and benefits , management , pay freeze , USPS , retirement , FERS , Patrick Donahoe , Tom Carper , POST Act , Meg Beasley

Monday - 01/17/2011, 07:03am EST
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How the Voluntary Contribution Program works

Federal benefits expert Tammy Flanagan joins host Mike Causey with details on the Voluntary Contribution Program. They'll discuss how it works, who can join it, and how it would work with a Roth option.
December 15, 2010 (Encore Presentation)

Tags: pay and benefits , Voluntary Contributions Program , Mike Causey , Tammy Flanagan , Your Turn , retirement , TSP

Tuesday - 12/14/2010, 03:58pm EST
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Tax Cut Triggers In-House Civil War

Has the proposed social security tax cut triggered a civil war in your office? Senior Correspondent Mike Causey says in some locations there is a major rift between younger workers under the FERS system who would get the break and their older CSRS colleagues who won't get it.

Tags: pay and benefits , Mike Causey , FERS , Social Security , tax cuts

Tuesday - 12/14/2010, 04:00am EST

Pay Freeze & Pay Raise

How would you like a pay freeze and a two percent raise at the same time. Senior Correspondent Mike Causey says that's what may happen to a large chunk of the federal workforce.

Tags: pay and benefits , Mike Causey , Social Security , FERS

Friday - 12/10/2010, 04:00am EST

Pay, Pensions, Premiums Under the Knife

Friday is supposed to be a slow news day so we'll limit it to this: a 3 year pay freeze, 10 percent job cut, higher FEHBP premiums for retirees, lower benefits for future retirees and some other stuff. Interested? Check out Senior Correspondent Mike Causey's federal report.

Tags: pay and benefits , Mike Causey , pay freeze , hiring freeze , RIF , COLA , pay cut , FEHBP , FERS , National Commission on Fiscal Responsibility and R

Friday - 11/12/2010, 04:00am EST
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