As Pushing the Envelope noted 8 weeks ago, the Postal Service is facing a severe financial challenge. There are concerns the Postal Service could end this year without enough cash to pay all of its bills. The Postal Service attributes its problems to two major factors: (1) the long-term erosion of high-margin First-Class Mail volume because of electronic diversion and (2) drastic volume losses due to the current recession. The Postal Service has asked Congress to
Mail volume plummeted 4.5 percent — or 9.5 billion pieces — in fiscal year (FY) 2008. Reduced mail volume allows the Postal Service to combine delivery routes to maximize efficiency and reduce workhours, overtime, and other expenses. The Postal Service is seizing this opportunity by consolidating more than 87,000 city delivery routes — which could affect as many as 50 million addresses nationwide. Consolidating routes means some customers will receive their mail at a different time — earlier or later in the day.
The federal government has two main retirement systems. Most employees hired since 1983 fall under the Federal Employees’ Retirement System, known as FERS. Unlike their counterparts under the old system called CSRS (Civil Service Retirement System), FERS employees do not receive any service credit for their unused sick leave upon retirement.
