Postal News

[caudio51]

FYI.....

A senior U.S. Postal Service official warned that passage of pending postal reform legislation, when coupled with the Bush Administration demands on military retirement costs, could increase stamp prices by as much as 20 percent in the near future. The postal reform bill S. 662, scheduled for Senate action would require the U.S.P.S. to become the first federal agency to pre-fund its retirees' health benefits while the Bush Administration is insisting that the agency absorb the military retirement obligations of its employees, also a first for the federal government.
"Under current law, the Postal Service has managed to keep the cost of postage below the rate of inflation," said Tom Day, Senior Vice President for Government Relations. "But this bill not only strips the Postal Service of much of its management authority but almost guarantees a hefty rate increase."
Day said that should final legislation require the Postal Service to prefund retiree health benefits and retain a $27 billion obligation to fund military retirement benefits for its employees, postage rates could increase by up to 20 percent. That would be in addition to any rate increase necessary to fund postal operating costs. The postage rate increase that was effective on Jan. 8 was implemented solely to generate the $3.1 billion necessary to fund an escrow account resulting from 2003 legislation. 1

 

[cvm4]

So stamps would go up to around 46 cents? I'm indifferent on this until more reports are shown. Just too tired so I'm confused.

 

[jasontp]

I'm more worried about the cost of packages, as opposed to the cost of stamps, especially since the coffee shop sends out so much coffee across the country.

 

[GuyMcBeerdrinker]

shit, I thought it was about the postal service -- the band -- or the posties -- the now-called discovery cycling team.

 

[Kingston]

With online bill pay, I think I've used 1 stamp in the past year. Most things can be done online or over the phone.
Now, if they raised the PM price (again) I'd be pissed.

 

[tobby4]

yea i only use like 15 stamps a year so it does not bother me... but i understand how people could get upset especially people who do mass mailings...

 

[PetersCreek]

Day said that should final legislation require the Postal Service to prefund retiree health benefits and retain a $27 billion obligation to fund military retirement benefits for its employees [emphasis added], postage rates could increase by up to 20 percent.

Hmmm...I have trouble reconciling the underlined text with what is actually in the bill...

"(b) CREDIT ALLOWED FOR MILITARY SERVICE- In the application of section 8348(g)(2) of title 5, United States Code, for the fiscal year 2006, the Office of Personnel Management shall include, in addition to the amount otherwise computed under that paragraph, the amounts that would have been included for the fiscal years 2003 through 2005 with respect to credit for military service of former employees of the United States Postal Service as though the Postal Civil Service Retirement System Funding Reform Act of 2003 (Public Law 108-18) had not been enacted, and the Secretary of the Treasury shall make the required transfer to the Civil Service Retirement and Disability Fund based on that amount."

By my reading of this section and the relevant section of Title 5, this bill simply requires funding of the credit given for military service that counts toward USPS retirement. This is not the same as funding "military retirement benefits" as creditable service can and most often does fall far short of qualifying for any retirement benefits whatsoever under the military system. I'll certainly grant that this poses a big problem for the USPS since it receives no allocation with which to pay for the increased pension costs associated with crediting those years of service...but it in no way pays for military retirement benefits. It pays for USPS retirement benefits.

 

[MichiganM]

With online bill pay, I think I've used 1 stamp in the past year. Most things can be done online or over the phone.
Now, if they raised the PM price (again) I'd be pissed.

Same here. Online bill pay is the bomb.

 

[joshua]

Same here. Online bill pay is the bomb.

postal service and "the bomb" in the same thread, this is totally gonna set off some alarms at the NSA

 

[MichiganM]

postal service and "the bomb" in the same thread, this is totally gonna set off some alarms at the NSA

The postal service shouldn't be worried about bombs. :timebomb:

Doh! :hammersma