Postsal Pay Problems

Seattle, WA

#1 Mar 21, 2013
The chief of the struggling U.S. Postal Service received $384,229 in compensation last year -- and at least one lawmaker thinks he should take a pay cut.
Sen. Jon Tester, a Montana Democrat, decried top U.S. Postal Service salaries in a letter this week to the board governing the service. Tester wants top postal executives to cut their own salaries and bonuses as they move to cut mail delivery services and close postal plants and offices, laying off tens of thousands of workers..
Postmaster General Patrick Donahoe received a base salary of $271,871 in 2011, according to a November filing by the service with the Securities and Exchange Commission. But he also made another $81,954 in pension and deferred compensation. And he benefited from $30,404 in "other" compensation, including security costs, life insurance premiums, parking and financial planning services.
Donahoe, 56, is a career postal employee who most recently served as the deputy postmaster general.
All of the top officers at the U.S. Postal Service had annual base salaries topping $200,000, according to the filing.
The Postal Service said last week it was moving forward with a plan to close more than 200 postal plants that may cost 32,000 jobs. The plan is aimed at helping the service get out of major debt caused by declining first-class mail volumes and a congressional mandate to pre-fund retirement health care benefits. The service reported a $5.1 billion loss for the year ended Sept. 30.
Tester said Postal Service leaders should recognize sacrifices made throughout the agency. He also said that, in the past, executives from other private companies seeking "favorable treatment from Congress" have forgone some compensation.
"To date, not a single executive has offered to forgo bonuses or reduce his salary during this difficult time," Tester wrote.
Looks like 6x the average Joe's pay, to kill a business... For simpletons it's $150+ per hour....

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