Objective The Postal Service participates in three retirement plans: the Civil Service Retirement System (CSRS), the Federal Employees Retirement System (FERS), and the Postal Service Retiree Health Benefits (RHB). The first two are pension plans and the third is set up to fund the Postal Service’s share of RHB premiums. The U.S. Office of Personnel…
Objective The Postal Service participates in three retirement plans: The Civil Service Retirement System (CSRS), the Federal Employees Retirement System (FERS), and the Postal Service Retiree Health Benefits (RHB). The first two are pension plans, and the third is set up to fund RHB premiums. The Office of Personnel Management (OPM) administers these programs, including…
Executive Summary The Postal Regulatory Commission (PRC) retained Segal Consulting (Segal) to conduct an independent liability examination for Postal Service workers covered by the Retiree Health Benefit (RHB) Fund. PRC specifically requested that we evaluate: Whether the current assumptions were developed in accordance with generally accepted actuarial principles and methods set forth in the Actuarial…
By Ian Smith – February 1, 2017 Legislation has been introduced in the House to make a number of reforms to the Postal Service. The Postal Service Reform Act of 2017 (H.R. 756) would make pension funding reforms, allow for postal rate increases and even allow the Postal Service to provide non-postal services in some…
The usual suspects in Congress are at it again, with a “reform” bill that contains a pre funding section, in addition to a number of poison pills that we are expected to swallow. Speaks for itself and should be stopped dead in it’s tracks. Draft Postal Service Reform Act of 2016 Postal Service Health Benefits…
April 18, 2016 (RARC-WP-16-009) Since passage of the Postal Accountability and Enhancement Act (PAEA) in 2006, the OIG finds the Postal Service is doing better controlling its costs than sometimes is reported in the news. The Postal Service has redesigned its network of processing plants, retail locations, delivery routes, and transportation systems, as well as…
