Treasury Secretary on Debt Limit: ‘Extraordinary Measures’ for Civil Service Retirement and Disability, Postal Retiree Health Benefits, and TSP G Funds

January 13, 2023 WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit. The full text of the letter can be found here and is available below. The Honorable Kevin McCarthy Speaker U.S. House of Representatives Washington, DC 20515 Dear Mr….

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CBO Projects USPS Will Continue Defaulting on Retiree Health Fund Payments

By Ian Smith – February 4, 2020 The Congressional Budget Office predicts that the Postal Service will continue defaulting on mandatory payments to the Postal Service Retiree Health Benefits Fund for the next decade. CBO said in a recent report that it expects the Postal Service to continue defaulting on the payments for the next…

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USPS OIG: Postal Service Retiree Funds Investment Strategies

The U.S. Postal Service participates in three retirement plans: the Civil Service Retirement System (CSRS), the Federal Employee Retirement System (FERS), and the Postal Service Retiree Health Benefits Fund (PSRHBF). The first two are pension plans, and the third is set up to prefund and provide retiree health benefits. These plans are restricted to government…

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OIG Report: Update for Measuring Pension and Retiree Health Benefits Liabilities

Background The U.S. Postal Service provides pension and health insurance benefits to its retirees. Postal Service employees participate in the Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) pension programs. The Office of Personnel Management (OPM) administers these programs, including projecting future CSRS and FERS assets and liabilities for the federal government…

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