Retirement-related costs were 11.7 percent of operating expenses in FY 2023, a significant cost for the Postal Service. USPS has higher retirement liabilities than other agencies and must pay these costs through revenue rather than through congressional appropriations. The Postal Service has no control over levers that might decrease costs or generate higher fund balances….
April 26, 2023 By law, the Postal Serviceās retiree assets are invested exclusively in U.S. Treasury securities, which pose little risk and generate low investment returns. If the Postal Service wanted to invest in other assets, congressional action would be required. An OIG analysis found the Postal Service could have had $1.2 trillion in retirement…
By Ike Brannon – December 14, 2017 Delivering mail to every address in the country, the USPS has a nearly daily impact on every Americanās life. With over $121 billion in debt and unfunded liabilities, it could have an even larger impact in every Americanās life if it cannot begin cutting costs and paying its…
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…
Web News Article #: 28-2017 03/20/2017 – On March 16, the House Oversight and Government Reform Committee āmarked-upā and approved theĀ Postal Reform Act of 2017Ā (H.R. 756). A mark-up is a formal process where a congressional committee can consider and amend a bill before advancing it to the full House of Representatives or Senate. Recognizing the…
