The Washington Post today published an article which quoted a USPS standup talk and white papers.
"We will be insolvent next month due to significant declines in mail volume and retiree health benefit pre-funding costs imposed by Congress," the paper quotes. "The Postal Service is facing dire economic challenges that threaten its very existence."
To help remedy the situation, the paper said, the Postal Service wants to withdraw its 480,000 pensioners and 600,000 active employees from the Federal Employees Health Benefits Program and place them in a new, USPS-administered program.
Similiarly, the Postal Service wnats to pull funds out of CSRS and FERS and self-administer those retirement programs.
Additionally, the newspaper said that the workforce could be reduced by as many as 120,000 career positions by 2015, on top of the 100,000 it expects by attrition.
These actions are on top of previous requests to close more than 3,700 Post Offices, reduce delivery frequency, and to restructure the future retiree health benefit payments.
The white papers are found here and here.
What do you think about this? Comment here.
33 comments:
Starting our own Retirement system seems akin to investing my own social security - horrible idea fo the masses. Wow, I wasn't scared until this news. What we need is for Congress to go back to funding us so that we can once again be a SERVICE since that is what the public expects. Whether we want to believe it or not most of the public seems to believe we're government funded anyway.
I am truly scared and don't believe any of us will have this job in 5 to 10 years.
I have put in 26 years to this company and have seen a lot of changes over those years. This by far is the worse that I have seen and am truly hoping that I can retire in 4 years. It is rather upsetting to know that you put all this in and will get little or nothing for it. I wish that some one with some common sense would come up with something, but with the management that we have now it is a crapshoot at best.
I am also truly scared for my future employment status with USPS. I have only been an employee for 6 years. When I got hired, I breathed a sigh of relief that I would have a job until retirement age. Now its up in the air. I know that this is the same issue that people all over the country are facing with their employers, and have been facing for the last 3 years. Knowing that others have been experiencing this fear for a while does not lessen my anxiety. I have been happy to pay union dues, knowing that it keeps my employment safe (NOT for filing lame-a** petty greivances). Now I see that the union's "power" to keep our jobs can be stripped away without a second thought. I resolve to appreciate my employment for as long as it lasts...
Well . . . my friends, the end is near!!! "They" want us to hand over our Healthcare & Retirement to the same people that have brought us to the brink of insolvency??? That is a joke!!! The best advice I can give to my fellow Postal Employee's is to pay off whatever bills you can and bulk up your emergency fund!!! Your going to need it in the very near future!!! I also wonder . . . why, for the past twenty (20) years or so, when we were making money hand-over-fist, the powers that be were not putting something aside just for a situation like this???
One step closer to privatization don't you think?
I want the same people who mis-managed this company to handle my FERS plan?
The doubting Thomas in me thinks they want to use the money to keep us going. What happens when that runs out? Why are we not hearing that the very top layers of management are being whittled down as well?
PLEASE do not let them '"""handle'""" the retirement.................I was scared before for my job (18-1/2 yrs) now I'm terrifed of the idea of the retirement being 'messed' with
I have more than fifteen years left before I can even dream about retiring. I can't imagine the PO can successfully manage retirement. Then for them to find a more cost-effective way to handle health care? I believe, for the most part, we pay pretty nice premiums, but I can guarantee that will go to the wayside if they take that on too. I felt pretty secure in my job with the amount of my co-workers who will be eligible to retire soon (if they aren't already) but now I am much more scared. I have four kids, am divorced living only on my salary alone, and I know that working in the private sector would only be worse. Craptastic is all I can say!
Does anyone know . . . is this going to affect our TSP in any way??? Since we will have no "Pension" this is all that most of us will have!!!
Any chance this is a "hold my breath" 2-yr. old temper tantrum by Donohoe and friends to get Congress to allow 5 day delivery and credit our overfunded health benefits to future payments? Will Congress allow USPS to bust the unions and take over our health and retirement? How long will this take? My PO is on the "List" and I have 6 mos. to retirement. I may make it, but it's doubtful.
Unbelieveable that this is the way I'm getting thanked for many years of hard work, loyalty and sacrifice. I can't imagine what the USPS will be like without all the dedicated employees that believed in the sanctity of the mail.
oh great... walmart here we come! the news just keeps getting better and better. That welfare check is going to look mighty good soon.
The grossly overpaid union employees of the U.S. Postal Service are about to experience what the rest of America has been going through. ABOUT TIME.
Welfare???Honey the government is BROKE also.. This is truly ashame. The Post Office (as it was called when I started) use to be such a Wonderful place to work and the sad thing about it is that it still could be. But we have put out TOO much negative information SO the customers have gone elsewhere for their business and can we blame them??? NO!!!! And what's more IF the Postal Service closes the Rural and Small Post Offices then they are SUNK. The Rural and Small Post Offices make up only 0.7% of the Postal Service's Budget. As I've said before and will say again "Start at the Top NOT at the Bottom, TOO many Cheifs and NOT enough Indians" as the old saying goes..
For those who seem to revel in other's hardships, shame on you.
By the time this PMG is finished with his plans, the only employees left will be in the "Pink Palace" in Washington, DC.
As I have said before, thanks for the loyalty, BOSS.
Have faith in the ONLY one you can!
The sad part about this news, is we will probably be sunk either way. I, for one, don't see the government turning billions over to USPS to manage, they don't have the money.
So, what do we have - another scare tactic by HQ to drive employees away in order to accomplish their ends?
It is getting pretty scary. I would have never thought 25yrs ago when I started, that the postal service would look like this. With 11yrs left to go, I am fearing the worst. It sure would be a shame to put in all of those years only to be "let go." I am praying for another buyout, but it is not looking good.
It's a good thing the PMG is "one of us". Can you imagine what he'd be doing to our organization if he was an outsider. (Yes, that was sarcasm)
I have 7 more years until retirement, and am very frightened by this development. I am a True Blue loyal Postal employee, but do not want USPS managing my pension or health care; leave those to the experts! Although I can't see Congress going along with any of these proposals -- other than busting the Union contracts -- I sincerely hope they were solely intended to get Congress' attention, and won't really come to pass.
This is scary.If the PMG couldn't handle the USPS before , what makes him think he can handle our retirement and healthcare.He is wrong in tring to close the small rural offices.He will lose.
Let's keep our offices open! Lots of people count on their postmaster or clerk to find a flat rate box that their gift will fit in...tape it up and get it out in the mail! They come in before work, on their noon hour or on their day off. They want to be able to mail something every day.... they don't care if they receive their mail but 3 days a week! Keep the small offices open so we are AVAILABLE to the customers. Stop wasting gas on delivering junk mail and maybe one piece of first class mail every day. Keep the prices down, stop wasting gas and tires on delivering 6 days a week! Let them come to us EVERY DAY and we go to them less often. Keep box sections open so if they want to receive their mail more often, they can rent a box....and again, they can come to us! Rural Delivery is just too expensive to be free and every day! Union workers are paid more than others and all carriers are union. Where is the brain here?
I think its time to go back under the federal government and stop this "quasi" govermental activity. We should be the same as the other federal departments, with the same beneifits and retirement system. We will simply hand over all our revenue to the fed and let them support us. Stop the washington team from running us into the ground.
The no layoff clause in the contracts only protects those with over 6 years in the postal service. Seniority should count for something. The postal service wants the no layoff clause abolished in order to get rid of the senior career employees. With not hiring career employees (other than upper management) for the past few years, I am sure there are over 120,000 non-career employees that could be laid off without violating or abolishing the no layoff clause.
Grannybunny.
I share your thoughts...I too have about 7 years to go. Six months ago, I would not have worried about it....now I am thinking I will not make it to retirement. This whole thing is just nerve racking.
Right now.....all of those retirement funds are on deposit with the Fed and are used to offset the debts on the books. To remove them and transfer the funds to our control.....would break the books on the Fed....so I doubt this will happen. That is why they haven't refunded us the over payments...simply said...they don't have it!!
I've said this before and I will say it again. Time to do away with the 5 families (unions) and merge them into one union. Remove the craft designations and label us all simply as "postal employees" and allow management to use the employees in any manner deamed necessary. Any postal employee could be a carrier, mail handler, clerk, or maintainence....depending on the situation. IF we come to RIF...sorry but anyone who has reached retirement eligibility should go first. They have retirement and should be on their way. This opens positions for those who are still trying to make it to retirement.
I'm sorry everyone, but every week I receive a paycheck that is more than most people I know where I live, and when I went to the dentist and had extensive work done I only paid a small portion of what the bill was. And when I had to go to the doctor and have an MRI done and all the other tests and care, I only paid a small portion. THAT'S the thanks I got from the Postal Service.
The positive comments are good, we all realize for the most part, USPS has been a good employer. However, the end (of good-paying jobs and job security) maybe closer than we would like to think. And at that time, it won't make any difference if you have 1 year left or 30, your job will probably be just as gone.
What would Owney the Postal Dog say...............
HUMMM!!!!! Did anyone every wonder why the people who recived a RIF didn't lose there jobs they just placed them into another job with the same pay or better pay!!!! But yet they are closing all of the small Ruarl offices to save money. I also agree with some of the others on here the people who are able to retire need to get out or need to be told they have no choice they are retiring out willingly or not. there are several carriers that are just milking the postal system becuase they can and there union protects them. What bull crap!!!!
I say the people who are handling the USPS right now need to be handed there RIF'S. They are running the postal service in the ground!!!! Now they want to handle the money we have put into the retirement fund. NO WAY!!!!
I read the article about the village post office and i have this to say, what the hell is that!!!! It is a stand with priority boxes on it. Hey, Mrs. Doreen you need to come up with something better than a knock off hostess stand that say's United States Postal Service!!!! My child can do better and be a heck of alot more creative!!!
Hey miss sorry i get a pay check every week, what are you going to do when that pay check is no longer coming in to pay the bills. it's coming and you are not any safer than the rest of us.
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