Jul 17, 2014

Proposed USPS Reforms Could Save $17 Billion

"...Postal Service reform coming out of the Senate would save the agency just under $17 billion dollars, including the costs of implementation, according to a new Congressional Budget Office estimate.

The bill would extend the postage rate increase, let USPS cut back delivery to only five days a week and change the payments made to the Postal Service Retiree Health Benefits fund, among other changes...

Under current regulations, the Postal Service must also contribute money to the Federal Employees Health Benefits program as well as to the Postal Service Retiree Health Benefits Fund (PSRHBF) to help cover retirees' and future retirees' health insurance premiums. USPS has not made payments toward the future retirees' fund over the last four years due to its poor financial situation.

With the new bill, USPS would no longer be required to make direct payments to the FEHB fund over the next two years, stated CBO. Instead, the..."

Read more at FederalNewsRadio.com"

Jun 1, 2014

Should USPS Follow Private Sector Lead?

"...As the United States Postal Service looks for new ways to save money, one of the options it is considering is making changes to employee retirement benefits to bring them inline with new, emerging private sector standards. But there’s a slight catch: federal law and union rules prevent USPS from making such changes on its own.

The USPS inspector general this month issued two white papers that examined the retirement and benefits provisions of six private sector companies and two government sector programs. And while the studies found many similarities between the government and private sector, there are key differences that may stand in the way of immediate changes for USPS employees..."

Read more at FedScoop

Mar 26, 2014

OPM Plan Unveiled to Improve Federal Retirement Operations


"...Office of Personnel Management Director Katherine Archuleta announced a new strategic plan Tuesday that she said will help the agency “recruit, retain and honor a world-class federal workforce.”

While Archuleta said the “Strategic IT Plan addresses our technology needs across the agency,” the plan itself states that it is focused on “especially retirement programs and USAJobs.”

Those two areas represent the entire spectrum of federal employment, from recruitment to retirement. Recruitment and retirement also are areas in which OPM has had extensive information technology difficulties in the past..."

Read more at The Washington Post

Mar 6, 2014

Proposed $20bn Budget in Financial Relief for USPS


"...US President Barrack Obama has proposed a new Budget that seeks more than $20bn in financial and operational relief for the US Postal Service.

The 2015 Budget proposes to return $5bn in pension surpluses to USPS over two years and restructure the Postal Service’s retiree health benefits pre-funding system to potentially provide $9bn in relief up to 2016.

It would defer about $16.7bn in payments defaulted by USPS in 2012 and 2013 to spread repayment out from 2017.

The President’s Budget also proposes some operational changes in the US Mail, starting with an immediate move to abandon Saturday mail delivery and move to a five-day-a-week schedule..."

Read more at postandparcel.info

Feb 21, 2014

COLA Reductions Will Not be in 2015 Budget


"...President Obama will not tinker with federal retirees’ cost-of-living adjustments in his fiscal 2015 budget, which is scheduled for release in early March.

Obama proposed switching to a chained Consumer Price Index -- a formula that slows the rate of inflation growth and in turn, reduces federal retirees’ and Social Security beneficiaries’ COLAs -- in his fiscal 2014 budget. He first pitched the change during the 2012 fiscal cliff negotiations.

A move to the chained CPI is still on the table in hypothetical future budget negotiations, White House spokesman Josh Earnest said at a press briefing on Thursday, but it will not be in the president’s fiscal 2015 budget..."

Read more at GovExec.com
Related Posts Plugin for WordPress, Blogger...