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Key Factors to Consider When Choosing a Postal Service in Your Area

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Partnering up with a postal office can be very beneficial for your business. However, there are a few key factors to keep in mind when choosing a postal service for your business. This article will discuss what you need to pay attention to. 

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Postmaster General, Sorry About the Late Mail Delivery

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the staff of the Ridgewood blog

Washington  DC, Below is the oral statement prepared for delivery by Postmaster General Louis DeJoy before today’s hearing by the House Committee on Oversight and Reform.

“Good Morning Chairwoman Maloney, Ranking Member Comer, and Members of the Committee. I want to applaud the subject of the hearing – legislative proposals to place the Postal Service on a more sustainable path while addressing service performance.  You have put your finger on the precise combination of success factors that the Postal Service leadership and I have been focused on for the past 8 months – building a financially sustainable organization that fulfills our responsibility to the American people and to our employees, and that enables excellent, reliable service that meets the expectations of our customers.

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Postal Service proposes small price increases

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Postal Service proposes small price increases

JANUARY 16, 2015, 12:05 PM    LAST UPDATED: FRIDAY, JANUARY 16, 2015, 12:05 PM
ASSOCIATED PRESS

WASHINGTON (AP) — The U.S. Postal Service on Thursday proposed slight increases for mailing postcards and international letters — but wants to leave first-class “Forever” stamps at their present 49 cents.

Under a filing with the Postal Regulatory Commission, letters to international destinations would rise from $1.15 to $1.20. Postcards would rise from 34 cents to 35 cents.

The increases being proposed would become effective April 26, if the requests are granted.

On first-class mail, every ounce over 1 ounce would cost an additional 22 cents, up from 21 cents. And letters to all international destinations would go from $1.15 to $1.20.

The filing does not affect Postal Service shipping products and services.

The Postal Service said the requested price increases are the latest in a series of steps “to achieve financial stability.”

https://www.northjersey.com/news/postal-service-proposes-small-price-increases-1.1197788

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Postal Service Faces $100B in Debts and Unfunded Benefits

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Postal Service Faces $100B in Debts and Unfunded Benefits
March 14, 2014 – 4:23 PM
By Michael W. Chapman

(CNSNews.com) – The U.S. Postal Service (USPS) currently owes $99.8 billion in benefit payments to its current and retired workers but does not have the money, and if Congress does not act to fix the problem, the Postal Service may have to “implement contingency plans to ensure that mail delivery continues,” according to a new report by the Government Accountability Office (GAO).

“At the end of fiscal year 2013,” said the GAO, “USPS had about $100 billion in unfunded liabilities: $85 billion in unfunded liabilities for benefits, including retiree-health, pension, and workers’ compensation liabilities, and $15 billion in outstanding debt to the U.S. Treasury—the statutory limit.”

“USPS continues to be in a serious financial crisis, with insufficient revenue to cover its expenses and financial obligations, a continuing decline in profitable First-Class Mail volume, increasing unfunded benefit liabilities, and borrowing limitations due to having reached its $15 billion statutory debt [borrowing] limit,” said Frank Todisco, a GAO chief actuary, in prepared testimony before the House Subcommittee on Federal Workforce, U.S. Postal Service and the Census on Mar. 13.   (See USPS Action Needed.pdf)

“Attention to USPS’s unfunded benefit liabilities is important, as they represent scheduled future benefit payments to current and retired employees for which USPS has not set aside sufficient money to pay,” said Todisco.


Those “unfunded benefit liabilities” refer to money owed for postal workers’ pensions, retirees’ health care and workers’ compensation. It also includes some outstanding debt.

According to the GAO report, the USPS at the end of 2013 had about $100 billion ($99.8 billion) in unfunded liabilities. These scheduled payments to current and retired workers included the following:

$48.3 billion, retiree health care

$17.2 billion, workers’ compensation

$19.8 billion, federal pension plan for workers hired before 1984

$500 million, federal pension plan for workers hired after 1984

$15 billion, outstanding debt

According to the GAO, “these unfunded liabilities have increased by 62 percent since fiscal year 2007.”

In 2007, the unfunded liabilities were $61.6 billion, and at the end of 2013 they had grown to $99.8 billion.

https://www.cnsnews.com/news/article/michael-w-chapman/postal-service-faces-100b-debts-and-unfunded-benefits#sthash.MDL9v7H5.dpuf