Postal Pension Funding Reform: Issues Related to the Postal Service's Proposed Use of Pension Savings
Mar 2004 · DIANE Publishing
Ebook
51
Pages
About this ebook
In April 2003, Congress enacted the Postal Civil Service Retire. System (CSRS) Funding Reform Act of 2003 (P.L. 108-18), which lowered the Postal Service's (USPS) annual pay. for its CSRS obligation by over $2.5 billion beg. in FY 2003. The Act requires: (1) the USPS to begin making payments into an escrow account in FY 2006, (2) the USPS to issue a report on its proposed use of "savings" resulting from the lower CSRS payments, and (3) the GAO to evaluate the USPS's report and present its findings to Congress. GAO evaluated whether the USPS's proposals were consistent with P.L. 108-18; the impact of the escrow account; and whether the proposals were fair to current and future ratepayers, affordable, and helped achieve transformation goals. Tables.
In April 2003, Congress enacted the Postal Civil Service Retire. System (CSRS) Funding Reform Act of 2003 (P.L. 108-18), which lowered the Postal Service's (USPS) annual pay. for its CSRS obligation by over $2.5 billion beg. in FY 2003. The Act requires: (1) the USPS to begin making payments into...
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