What did the Postal Reorganization Act do?
The resulting legislation, the Postal Reorganization Act of 1970 (PRA), established the United States Postal Service. The law granted the agency financial and operational independence from the rest of the government and gave postal employees the right to collective bargaining over wages, hours and working conditions.
Who got the postal vehicle contract?
Oshkosh Corp
Register now for FREE unlimited access to Reuters.com. WASHINGTON, March 24 (Reuters) – The U.S. Postal Service said on Thursday it placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp (OSK. N) and will double its initial planned electric vehicle (EV) purchases.
What does the postal Accountability Act entail?
It reorganized the Postal Rate Commission, compelled the USPS to pay in advance for the health and retirement benefits of all of its employees for at least 50 years, and stipulated that the price of postage could not increase faster than the rate of inflation. It also mandated the USPS to deliver six days of the week.
How much money did the post office lose in 2014?
$5.5 billion
The U.S. Postal Service lost $5.5 billion in fiscal 2014, marking another year of red ink despite a second year of growth in operating revenue and a 9 percent increase in the organization’s shipping-and-packaging business.
What’s in the postal reform bill 2022?
The bill requires the Office of Personnel Management (OPM) to establish the Postal Service Health Benefits Program within the Federal Employees Health Benefits Program under which OPM may contract with carriers to offer health benefits plans for USPS employees and retirees.
Who signed the Postal Reorganization Act?
President Richard Nixon signed the Act in law on August 12, 1970. An act to improve and modernize the postal service, to reorganize the Post Office Department, and for other purposes. The legislation was a direct outcome of the U.S. postal strike of 1970.
How will postal reform affect retirees?
Under the postal reform measure, current USPS retirees will have a special period during which they can choose to enroll in Medicare with no late enrollment penalty or continue with FEHB coverage alone.
Why does USPS have to pre fund retirement?
In the absence of legislative relief, the Postal Service was required to make — and made — this year’s $5.5 billion payment to the Retiree Health Benefit Fund. We had sought a deferral of this payment to minimize the risk of defaulting on financial obligations in fiscal year 2011. This risk remains.
Why is USPS in debt?
That ended up being the year that the Postal Service’s mail volume peaked and its financial fortunes steadily worsened. The Postal Service hasn’t made those payments since 2012. Overall it faces unpaid obligations of $63 billion, according to its most recent annual report. The bill forgives much of that debt.
What are the changes to the US Postal Service?
Sixty-four percent of First-Class Package Service volume will be unaffected by the proposed standard changes. Four percent will be upgraded from a 3-day to 2-day service standard. For the remainder of the volume (32 percent), the service standard will increase by one or two days.
What is the postal Reform Act of 2022?
Are laws about the postal service made by Congress?
The United States Postal Service shall be operated as a basic and fundamental service provided to the people by the Government of the United States, authorized by the Constitution, created by Act of Congress, and supported by the people.