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Between 2007 and 2016, the USPS lost $62.4 billion; the inspector general of the USPS estimated that $54.8 billion of that (87%) was due to prefunding retiree benefits. [13] By the end of 2019, the USPS had $160.9 billion in debt, due to growth of the Internet, the Great Recession, and prepaying for employee benefits as stipulated in PAEA. [14]
An employee must be over age 59 + 1 ⁄ 2 to request an "age-based" withdrawal and need not specify any reason for doing so. Employees may make up to four such withdrawals per calendar year; the prior requirement for a 30-day period between withdrawals was removed in 2024.
The U.S. Postal Service (USPS) has reached an "agreement in principle" with the U.S. Treasury Department on a long-awaited $10 billion loan that the agency needs to survive a steep drop in mail ...
The full eagle logo, used in various versions from 1970 to 1993. The United States Postal Service (USPS), also known as the Post Office, U.S. Mail, or simply the Postal Service, is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, its insular areas and associated states.
The Trump administration expects up to 10% of employees to accept the offer, or around 200,000 of the more than two million workers the federal government employs, according to the BBC's US ...
The government has in the past offered incentives for employees to leave in attempts to trim the federal workforce. In the 1990s, former President Bill Clinton presented tens of thousands of ...
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