USPS Office of Inspector General

There has been a surplus in the U.S. Postal Service’s Federal Employees’ Retirement System (FERS) pension program since 1992. Most recently, the FERS surplus was projected to be $11.4 billion, accounting for most of the Postal Service’s total $13.1 billion pension surplus.

The Office of Inspector General (OIG) asked Hay Group, an actuarial firm, to examine the causes of the FERS surplus, and a new OIG white paper presents the results of Hay Group’s work.

Detail from Iron Mountain, Michigan
Post Office Mural

Some Americans may be aware that Benjamin Franklin was the first postmaster general of the United States, appointed by the Continental Congress during the American Revolution. But, unfortunately, our history lessons have otherwise overlooked the Post Office’s contribution to the development of the nation. A new paper entitled Postal Service Contributions to National Infrastructure describes some of the ways the Postal Service was used to support national infrastructure growth. For example, did you know?

When online, how do you know who you’re really communicating with? Does that affect your shopping or banking habits? Do you know people who don’t use the Internet much because they are afraid of identity theft?

The latest statistics from a Pew Research Center study demonstrate the pull of the Internet:

•80 percent of Americans are users, whether through personal computer, tablet, or smartphone;
•many of those users do not conduct any kind of commerce;
•30 percent have not made a purchase online;
•and 40 percent do not bank online.