The Federal Times has reported that "the struggling U.S. Postal Service should be spared between $50 billion and $55 billion in projected long-term pension obligations, according to an outside actuary's report submitted today to Congress by the Postal Regulatory Commission. The report, produced by The Segal Company, was intended to provide an independent look at the allocation of Civil Service Retirement System costs between the Postal Service and its predecessor, the U.S. Post Office Department. The Office of Personnel Management had reckoned the postal service's share at $198 billion as of last September. OPM also received a copy of the Segal report today and will now have to give its response to the commission, Congress and the Postal Service. An OPM spokesman could not be reached for comment late this afternoon. But Segal's conclusion was welcomed by Sen. Tom Carper, a Delaware Democrat who chairs a federal financial management subcommittee whose purview includes the Postal Service."
Read more here.
Thanks, postcom.org!
Read more here.
Thanks, postcom.org!
