"Comments: House Subcommittee Chairman Lynch introduced H.R. 5746 on July 15, 2010, which would require the Office of Personnel Management to recalculate the Postal Service's CSRS obligation using a methodology approved by the Postal Regulatory Commission and if it finds USPS has overfunded its obligation, then OPM would have 90 days to transfer this money to the Postal Service's Retiree Health Benefits Fund. The subcommittee passed the bill, but it was not enacted in the 111th Congress. On the Senate side, both Senators Carper and Collins introduced bills, S. 3831 and S.4000, in 2010 that would 1) modify OPM's methodology for calculating the Postal Service's CSRS and FERS pension liabilities and USPS's funding requirements for its retiree health benefits, 2)enhance efficiency and reduce costs, including leeway to close post offices and reduce workforce-related costs, 3) require an arbitrator to consider the Postal Service's financial condition in rendering decisions about collective bargaining agreements, and 4)allow the Postal Service to offer nonpostal products and services that are in the public interest. These bills were not enacted by the end of the 111th Congress. "
I thought something was funny with your GAO stuff ~ and there it is ~ the rest of the story.
GAO itself was the first to notice that the formula used to levy Postal Revenues into the retirement system was different than that used in the rest of the government.
The Postal Inspector General's office also found some serious multibillion dollar overpayments to OPM.
It's a very serious problem.
Frankly, for my purposes they can take the surplus and recalculate my retirement so I recover the full benefit of my earlier contributions.
The formula does not matter. The USPS is part of the federal government. There are no assets to pay for federal retiree benefits for postal retirees or any other federal retirees. The only options to pay for retirement benefits are taxes, fees, and printed money. Without substantial reductions in government spending including federal pensions, the dollar will collapse at some point. The world will not be able to absorb $100 trillion of new dollars. Essentially, this country is consuming far more than it is producing. The dollar’s collapse will bring widespread economic devastion wiping out savings and purchasing power. If governments (state and federal) still do not reduce spending, no one will accept dollars for transactions.