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New program for Postal Service employees and retirees As of Jan. 1, current and former U.S. Postal Service employees are no longer covered under the Federal Employee Health Benefits Program.
Between 2007 and 2016, the USPS lost $62.4 billion; the inspector general of the USPS estimated that $54.8 billion of that (87%) was due to prefunding retiree benefits. [13] By the end of 2019, the USPS had $160.9 billion in debt, due to growth of the Internet, the Great Recession, and prepaying for employee benefits as stipulated in PAEA. [14]
GEHA (Government Employees Health Association) is a self-insured, not-for-profit association providing medical and dental plans to federal employees and retirees and their families through the Federal Employees Health Benefits program and the Federal Employees Dental and Vision Insurance Program (FEDVIP).
The bill is "a great gift for our retired firefighters, police officers, postal workers, teachers, and others who for years contributed to Social Security, but are now being penalized because of ...
On September 30, 2009, the House of Representatives and Senate passed and signed into law H.R. 22, reducing the amount the United States Postal Service pays into the Postal Service Retiree Health Benefits Fund from $5.4 billion to $1.4 billion. PMG Potter continued to unveil a plan to eliminate Saturday mail delivery, regardless.
Retirees can expect to pay an average of $165,500 in health insurance and medical expenses throughout retirement, according to a 2024 report from Fidelity. And that’s if you retire at 65. And ...
On January 28, 2009, Postmaster General John E. Potter testified before the Senate [68] that, if the Postal Service could not readjust its payment toward the contractually funding earned employee retiree health benefits, as mandated by the Postal Accountability & Enhancement Act of 2006, [69] the USPS would be forced to consider cutting ...
At left are Sen. Susan Collins, R-Maine, and Health and Human Services Secretary Xavier Becerra. The legislation will expand Social Security benefits for millions of retired Americans, including ...