USPS Fiscal Year 2015 Integrated Financial Plan (excerpts) The FY2015 IFP projects controllable income of $0.5 billion (as shown on the table to the right), versus a controllable income of $1.4 billion in FY2014. Controllable income excludes retiree health benefits (RHB) pre-funding and non-cash adjustments to workers’ compensation. All revenue and controllable income comparisons to […]
By Jamie Partridge Despite telling local KATU news that it’s “just an idea.. we’re not really pushing for it…it’s just a discussion… they’re just talking about in Congress” , the Portland District of the US Postal Service is indeed soliciting property owners and managers to “convert” from at-the-door to at-the-corner “cluster box” mail delivery. And […]
Fredric V Rolando, NALC President, The Postal Record, May 2014 The Postal Service and much of Washington are caught in a time warp. For some reason, they still think it’s 2009 and that the Postal Service is in terminal decline. The postmaster general’s “shrink to survive” austerity plan was developed in the depths of the […]
In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding” employee benefits. In […]
The Institute for Research on the Economics Of Taxation (IRET.org) prepared the following paper on the issue of overcharging USPS $75 Billion in Pension costs. The Postal Service Office of Inspector General (OIG) released a study in January 2010 claiming the Postal Service is entitled to $75 billion from the U.S. Treasury. The Postal OIG […]