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GailL1
GailL1
Community Champion ⭐⭐⭐
April 30, 2025

U.S. Postal Service Reports Fiscal Year 2024 Results

  • April 30, 2025
  • 1 reply
  • 1585 views

Guess postage and shipping cost will be going up again this year, maybe by a lot.

 

USPS- U.S. Postal Service Reports Fiscal Year 2024 Results 

Seems now it is the unfunded obligations of pension plans that are the big culprits - both CSRS and FERS.

 

From the USPS - 

The net loss for the year under generally accepted accounting principles (GAAP) totaled $9.5 billion, compared to a net loss of $6.5 billion for the prior year, an increase of $3.0 billion primarily attributed to the year-over-year increase in non-cash workers’ compensation expense.

 

Over 80% of our current year net loss is attributed to factors that are outside of management's control, specifically, the amortization of unfunded retiree pension liabilities and non-cash workers' compensation adjustments.

 

I am really beginning to wonder if our government knows how to add and subtract.

    1 reply

    nctarheel
    nctarheel
    Community Champion ⭐
    May 6, 2025

    It certainly did not help that a direct competitor to the Postal Service was appointed to run the Postal Service.

     

    Talking about a FOX IN THE HEN HOUSE!!!!!!!

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