USPS Loses Staggering $15.9B for Fiscal Year
Besides resolving the accelerated schedule to prefund retiree health benefits and allowing the Postal Service the flexibility to sponsor its own health care program for employees and retirees, the USPS Business Plan includes these other actions that require legislative action:
• Allowing the Postal Service to determine delivery frequency;
• Allowing the Postal Service to offer non-postal products and services;
• Developing a more streamlined governance model for the Postal Service that would allow for quicker pricing and product decisions;
• Instructing arbitrators that, during labor negotiations, they must take into account the financial condition of the Postal Service when rendering decisions;
• Resolving the overfunding of the Postal Service’s obligation to the Federal Employees’ Retirement System (FERS).