The Postal Service’s strategy is not the norm in state, local, and private pension funds, which are typically invested in a diversified mix of stocks, bonds, and other assets. There are also federal examples of more diversified investments.
WASHINGTON — The United States Postal Service today released its Second-Year Progress Report on Delivering for America (DFA), the 10-year plan to return the organization to financial sustainability and achieve service excellence while maintaining universal six-day mail delivery and expanding seven-day package delivery.
We found that Postal Service personnel were not consistently following the process for reviewing and approving late trip payments outlined in its internal policy, Highway Contract Route Exceptional Service Performance Payment Reconciliation.
In a recent multi-agency investigation, OIG agents responded to a source within USPS about an Indiana postal employee who was allegedly conspiring with an external drug trafficking organization.
We recommended management develop a plan to identify all repair and maintenance costs at the retail facility level; direct responsible personnel to record the cost of all completed work in the appropriate data systems; and address all outstanding maintenance issues identified at selected facilities.
Paper products are vital to the Postal Service’s business model. A graphic paper shortage can affect the Postal Service’s supply of essential operational items such as stamps, envelopes, labels, and postal marketing direct mail.
On Tuesday April 18, 2023, the U.S. Supreme Court heard oral argument in the lawsuit Groff v. DeJoy. The case was brought by Gerald Groff, who delivered mail as a Rural Carrier Associate (RCA) from 2012 to 2019 in central Pennsylvania.
The Postal Regulatory Commission today established Public Inquiry Docket No. PI2023-4 (PI2023-4) to provide a forum to gather information, provide transparency, and learn more about the Postal Service’s Delivering for America strategic initiatives that may have a significant impact on the postal community.
The recent bank crisis set off by the failure of Silicon Valley Bank and Signature Bank has exposed a reality about how U.S. banking really works. The system’s very existence — for example, insuring deposits, loan guarantees and setting interest rates — depends entirely on the federal government.
USPS is replacing its fleet of 200,000 delivery vehicles. Its new vehicles will include features like air bags, collision sensors, and an electric vehicle option.