Financials; Toplists; Alerts; Portfolio; Level 2 ; Boards; PLUS1 Crypto; Sitemap; Forex & Futures; World Exchanges; Follow Feed; USPS Releases Updated 2020 … The first step toward such reform is the USPS Fairness Act, which a large bipartisan majority of the House of … USPS is experiencing unprecedented volume increases and limited employee availability due to the impacts of COVID-19. These adjustments include workers’ compensation expenses caused by actuarial revaluation and discount rate changes, and the amortization of Postal Service Retiree Health Benefits Fund (PSRHBF), Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) unfunded liabilities. Shareowner Services. From the early 1970s through the turn of the century, the agency frequently broke even. Subscribe to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog. “The Postal Service reduced work hours by 6.4 million relative to the same quarter last year, helping us to reduce overall compensation expenses.”. The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. It’s important to note that this goes on the books as red ink whether or not it’s actually paid in a given year. Postal Service gets new leader as it deals with big financial concerns Kristin Schwab Jun 15, 2020 A USPS mail carrier loads her truck in El Paso, Texas, in April. The 2020 Integrated Financial Plan (IFP) anticipates continued financial challenges for the Postal Service, resulting in a projected controllable loss of $4.0 billion and a net loss of $7.6 billion in 2020. 407(d)(2) USPS DSA filing letter 12-1-20.pdf. USPS Financials In USD thousands. Marketing Mail revenue declined by $254 million, or 5.4 percent, on a volume decline of 1.7 billion pieces, or 7.9 percent, compared to the same quarter last year. Financial results in the Form 10-Q are available at http://about.usps.com/what/financials/. 2  Net amounts include changes in assumptions, valuation of new claims and revaluation of existing claims, less current year claim payments. Financial Briefing Recent Posts. Shareowner Services expand Shareowner Services. Follow us on Twitter, Instagram, Pinterest, and LinkedIn. The USPS was already seeing declining Mail and increasing Package volume, and in the second half of its fiscal year 2020, it saw those trends accelerate due to the pandemic. Postal Service (USPS) has funded its liabilities varies due to different statutory funding requirements specific to each benefit program and USPS's financial means to make payments. Subscribe to the USPS YouTube channel, like us on Facebook and enjoy our Postal Posts blog. News & Events. For example, USPS has been required to prefund its pension benefit liability over decades, and as shown in the table below, its pension liability is 94 percent funded. But in reality, the agency is generating billions in cash. It merely postpones the impending liquidity crisis and the borrowings must be repaid in a period where cash shortages are forecasted. Copy. A live audio webcast of the Meanwhile, Congress should address the pre-funding burden it imposed in 2006, which requires USPS – alone among all public and private entities in the country – to prefund future retiree healthcare benefits at an annual cost of about $5.8 billion. Even by 2020 standards, the United States Postal Service is having a terrible year. Il a été créé par un décret du Second Congrès continental le 26 juillet 1775 à Philadelphie sous le nom de « United States Post Office » sous Benjamin Franklin qui en fut le premier Postmaster General The answer can be traced back to a 2006 law from Congress. 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