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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.

Tags: Congress , Bernie Becker , The Hill , Federal Drive , Michael OConnell

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.

Tags: budget , Congress , House , Senate , Patrick Donahoe , Esther Carey , Ruben Gomez

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

Tags: pay and benefits , sequestration , budget battle , Jacque Simon , AFGE , Federal Times , Stephen Losey , Sean Reilly , GAO , federal pay , GSA , DoD , IT infrastructure , Mike Causey , Your Turn

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.

Tags: management , budget , oversight , USPS IG , Esther Carey

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

Tags: pay and benefits , retirement , phased retirements , Stephen Losey , Federal Times , Congress , Mike Causey , Your Turn

Wednesday - 07/11/2012, 07:01pm 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.

Tags: DoD , Sonny Biddix , Washington Headquarters Service , Defense Post Office , Digital Delivery Mail Program , technology , green government , Jared Serbu

Tuesday - 07/03/2012, 01:42pm 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.

Tags: Congress , cybersecurity , postal reform bill , DoD , DoD authorization bill , appropriations bill , Tevi Troy , Hudson Institute , Trey Hodgkins , TechAmerica , James Lewis , CSIS , Jason Miller

Wednesday - 06/27/2012, 05:08am 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.

Tags: Postal Savings System , Sheldon Garon , budget , Ruben Gomez , David Partenheimer , Princeton University , New America Foundation , management

Wednesday - 06/27/2012, 06:40am 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.

Tags: Federal Drive , management , Joseph Corbett , Ellis Burgoyne , Michael OConnell

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.

Tags: retirement , benefits , FERS , CSRS , Federal Drive , Michael OConnell , inspector general

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