{"id":10126,"date":"2015-02-20T15:58:29","date_gmt":"2015-02-20T20:58:29","guid":{"rendered":"http:\/\/postalemployeenetwork.com\/news\/?p=10126"},"modified":"2015-02-20T15:58:29","modified_gmt":"2015-02-20T20:58:29","slug":"nalc-the-absurdity-of-pre-funding-and-its-role-in-usps-financial-problems","status":"publish","type":"post","link":"https:\/\/postalemployeenetwork.com\/news\/2015\/02\/20\/nalc-the-absurdity-of-pre-funding-and-its-role-in-usps-financial-problems\/","title":{"rendered":"NALC: The absurdity of pre-funding and its role in USPS\u2019 financial problems"},"content":{"rendered":"<div class=\"meta\">\n<h2>USPS OIG: The absurdity of pre-funding and its role in USPS\u2019 financial problems<\/h2>\n<p><small><time datetime=\"2015-02-20\">NALC &#8211; Feb 20, 2015<\/time><\/small><\/div>\n<div class=\"text\">\n<figure class=\"photo\"><img decoding=\"async\" src=\"http:\/\/www.nalc.org\/news\/research-and-economics\/economics\/image\/oig-considerations.jpg\" alt=\"USPS OIG: The absurdity of pre-funding and its role in USPS\u2019 financial problems\" \/><\/figure>\n<p>The Postal Service is required to pay the full estimate of its liabilities even as that estimate moves around and is based on highly uncertain assumptions that can frequently change over the life of the liability.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>An article<span class=\"Apple-converted-space\">\u00a0<\/span><a href=\"https:\/\/www.uspsoig.gov\/blog\/be-careful-what-you-assume\" target=\"_blank\">posted on the website of the USPS Office of the Inspector General<\/a><span class=\"Apple-converted-space\">\u00a0<\/span>compares that to a credit card company telling you, \u201cYou will charge a million dollars on your credit card during your lifetime, so please enclose that million dollars in your next bill payment\u2014because it\u2019s the responsible thing to do.\u201d<\/p>\n<p>A new USPS OIG white paper,<span class=\"Apple-converted-space\">\u00a0<\/span><a href=\"https:\/\/www.uspsoig.gov\/sites\/default\/files\/document-library-files\/2015\/ft-wp-15-003.pdf\" target=\"_blank\"><em>Considerations in Structuring Estimated Liabilities<\/em><\/a>, evaluates these assumptions and other considerations and shows how close USPS could be to \u201cfully funded\u201d\u2014or even potentially overfunded.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>USPS OIG: The absurdity of pre-funding and its role in USPS\u2019 financial problems NALC &#8211; Feb 20, 2015 The Postal Service is required to pay the full estimate of its liabilities even as that estimate moves around and is based on highly uncertain assumptions that can frequently change over the life of the liability.\u00a0 An [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10127,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-10126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nalc-news","last_archivepost"],"_links":{"self":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/10126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/comments?post=10126"}],"version-history":[{"count":1,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/10126\/revisions"}],"predecessor-version":[{"id":10128,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/10126\/revisions\/10128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media\/10127"}],"wp:attachment":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media?parent=10126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/categories?post=10126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/tags?post=10126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}