Will the U.S. Postal Service Be Broke Again in 4 Years?

The Post Office grew revenues 2 percent in the third fiscal quarter of 2014, raking in $16.5 billion in operating revenue. (Hurray!) But it still managed to lose $2 billion on its business. (Boo!) So what’s the real story with the United States Postal Service? Is business booming, or is the Post Office going bust?…

 Continue reading

OIG Audit Director: Why the Postal Service Inspector General is looking at worker’s comp (audio)

Last year, $1 billion of Postal Service money went to recipients of workers compensation. But the rules that govern how agencies compensate federal employees when they’re hurt on the job haven’t changed since 1974. Monique Colter is an audit director for the Office of Inspector General at the U.S. Postal Service. On In Depth with…

 Continue reading

USPS OIG: Postal Service Retirement Benefits Benchmarking

Audit Report – HR-WP-14-002 – 05/01/2014 The U.S. Postal Service continues to experience financial challenges and operated at a $5 billion deficit in fiscal year (FY) 2013. The Postal Service remains a labor-intensive organization; it incurred about $47 billion in compensation and benefits expenses in FY 2013, including about $6 billion for retirement benefits. In…

 Continue reading

Veterans, Savings, a Contentious Hearing

May 1, 2014 – (This article appears in the May-June 2014 issue of The American Postal Worker magazine.) John L. Marcotte, Legislative & Political Department Director It’s rarely quiet in the legislative arena, and as past President Moe Biller was fond of saying, “The struggle continues.” Senate bill 1950, which would have repealed a cut…

 Continue reading

Senate postal bill would cut workers’ comp across the government – The Washington Post

Plans to stabilize the money-losing U.S. Postal Service have been bouncing around Capitol Hill for a long time, long enough to make you wonder if Congress will ever do anything about it. The proposals are designed to help the Postal Service deal with a changing business climate that left it with a net loss of…

 Continue reading