House votes to do away with massive USPS financial burden

The House of Representatives voted Feb. 5 to remove a mandate that the U.S. Postal Service prefund its retiree healthcare, a requirement that has been responsible for significant financial losses at the agency.

“This mandate has cost the postal service billions of dollars since it was first imposed 14 years ago. The Postal Service has not made a payment into this fund since 2012,” Rep. Carolyn Maloney, D-N.Y., said on the House floor.

“Without major structural reforms, the Postal Service will run out of cash in about four years. At that point, it will not be able to pay its own workers and mail delivery would simply cease.”

USPS has reported consistent losses in recent years, most recently a net loss of $8.8 billion for fiscal year 2019. Much of those losses can be attributed to the defaulting on prefunding payments, which amount to about $5 billion per year.

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Did this bill include the rca buy back retirement time?

I don’t think so.

No that’s a different bill.it hasn’t been voted on.

How about they refund at least half, preferably most, of the money back to the Post Office, where it belongs? Oh, wait, we’re talking Congress/Senate here. Yea, the money is gone and ” no one knows where”

We are the cash cow for government. Wonder where they will get the money now… Tsp?

Good thinking.

It will never pass the Senate, and if it did Trump would never sign it.. I’ll walk down L’Enfant Plaza in my underwear if this ever passes.

I am with you but I outdo scare people even in my under wear

This is so true. They will do the opposite of what the house does. It’s a sad situation.

I am going to hold you to that ????

I personally want the postal service to prepay future retirees health benefits because I don’t want to lose the FEHB insurance once I retire. I don’t give a damn if the postal service makes a profit or not. I don’t own stock in this dysfunctional organization. But it’s a moot point anyway. The postal service will never make that payment because they’re beyond broke.

Kinda seems like you should want the USPS to make a profit. You don’t own stock because they haven’t gone public. Pretty sour attitude to be honest.

I do everything in my power for the postal service to make a profit with my great work ethic, but I’m in the minority in sharing this goal… the postal service is a bloated dysfunctional government bureaucracy that has no hope of ever turning a profit again….even if the prefunded mandate is rescinded….so we as employees should want the prefunded mandate to be paid so we don’t get thrown into Medicaid when we retire….and I’m fully aware I can’t own stock in the postal service…. I was making an analogy.

Good point, Mike.

Uhm … You can’t own stock in the usps, its a not for profit business paid with postage rates, no government funds have ever been received. That’s the problem with the public – they need to learn the facts!

How about the new $570 million contract the USPS just signed last year for new scanners?

Don’t forget the 7-9 billion for new vehicles…

I agree that an investigation is needed. I think there are agents within the post office management working to sabotage it. There is a ton of overtime paid out everyday more than any of us wants. When we ask why can’t we hire more they tell us we are at our capacity for cca’s.

One thing USPS needs to do is charge hold the customer mail daily . It would not be a large amount 8 to 12 cents daily . It starting to be time consuming for the company, especially if costumer is on hold and they are ordering packages

The problem has been obvious for decades…. Top Heavy in layers and layers of management

I worked my way up through the ranks of the Post Office, starting as a mechanic and ending in a Mid-Management position. Now retired. Most of our craft employees work their butts off and are the reason we are still open.

How about delivery mayhem !
The RCA don’t know where exactly they’re going when delivering Express Mail and Priority mail. Wasting gas, driving excessive miles, plus the extra wages that USPS has to pay their employees for express delivery is a huge waste of money and resources.

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