USPS Statement on Retiree Health Benefits Payment

The U.S. Postal Service will not make mandated prefunding retiree health benefit payments to the Treasury of $5.5 billion due Aug. 1, 2012 or the $5.6 billion payment due Sept. 30, absent legislation enacted by Congress. This action will have no material effect on the operations of the Postal Service. We will fully fund our operations, including our obligation to provide universal postal services to the American people. We will continue to deliver the mail, pay our employees and suppliers and meet our other financial obligations. Postal Service retirees and employees will also continue to receive their health benefits. Our customers can be confident in the continued regular operations of the Postal Service.

The Postal Service continues to implement its strategic plan. However, comprehensive postal legislation is needed to return the Postal Service to long-term financial stability. We remain hopeful that such legislation can be enacted during the current Congress.

The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.

7 thoughts on “USPS Statement on Retiree Health Benefits Payment

  1. Senior employees to include war veterans will be excessed while junior union stewards are protected along with their private parking stalls. Whenit all explodes, APWU officers will have taken advantage of their APWU Union Officer Only Retirement plan which is unavailable to you – the dues paying lemming. Hows bout some mo chicken with that crap? Don’t believe me, check it out for yourself.

  2. . Cost effective operations means nothing to politicans, blood sucking creatures, as their sole interest is doing whatever buys votes for four more years. 100 millions dollar loss projected for 2012 means nothing as this is an election year. 70% of Americans favor no Sat. junk mail street delivery as first class mail is continuing to decline resulting in loss of revenue: 6 day street delivery is a wasted cost. Advertising junk mail is low revenue high distribution. Parcel delivery is a growing market as online shopping will continue to increase. USPS should compete with UPS, FED X, to increase share of parcel delivery as well as to compete in expedited mail with increased advertising for Express and priority mail. Advances in communication technology has left the USPS in the 20th century. Computer science is creating new APPS continually. Instant messaging is the primary means individual communicate. The day of communicating via purchasing a postage and awaiting a 2-3 delivery to a physical address is past history. Once the baby boomers are gone the young savvy electronic communicator will make written communication as drawing on cave walls in the time of the Neantheralman. USPS should aggressively seek to increase parcel market through competive pricing to compete with FED X ,UPS, and others in this market.

  3. The USPS will never cease to be. Cost regardless of the loss will have no bearing on inefficienes, small community post officies that have no relativity in providing necessary postal services will not be

  4. Lets face it the USPS problem is strictly the pre-funding issue. Congress’s mandate back in 2006 is the reason for the financial problems. But yet congressman Darrell Issa refuses to bring bill HR 1351 to the congressional floor. This bill would fix the problem. This bill has bipartisan support with approximately 225 congressman on board with this bill but Darrell Issa refuses to bring this Bill to the floor. My question is why? This will fix the pre-funding problem so why is it sitting in a pile of other bills that
    Congress refuses to bring to the floor. Darrell Issa wants to get his bill to the floor HR 2309 which will do nothing but dismantle the USPS and is only supported by 2 other congressman. As usual congress is not listening to the people. Time for a change in congress this November. This do nothing congress needs to stop sitting on their butts and get to work

    THE USPS…………………
    the us postal service’s inspector general has stated the postal service may
    ‘run out of cash’ as early as october 15th of this year. now chicken little donahoe and his lemmings have claimed this for about three to five years now, every year, and it never happened. imagine for a moment though that it does happen this
    year in october. wouldn’t that be the perfect time for the spineless donahoe to
    SHUT DOWN THE UNITED STATES POSTAL SERVICE. tell employees to stay home because the postal service is broke and can’t pay its bills. no mail is picked up and no mail is delivered or moves at all. donahoe wouldn’t be breaking any laws, if you have no money to operate, then you cease to operate.
    this would force our lazy, corrupt, incompetent congressman to pass emergency
    postal legislation. it would kind of like be getting postal legislation through default.
    the u s economy simply cannot stand the negative impact of no u s mail moving.
    i predict only a day or two of no mail moving before the emergency legislation would be signed, sealed, and delivered. of course, congress may then have
    to answer for the fact as to why they did nothing when everyone knows they were well aware of the usps predicament. the president would also have to answer for why he stayed so quiet and did nothing to stop the postal shutdown from happening. so shut it down donahoe, lock all the doors and turn out the lights and tell congress the next move is theirs. shut it down donahoe and at least you will have made one right decision in your ‘reign’ as postmaster.

  6. We will do nothing that doesn’t enrich ourselves and our owners (large corporations).

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