For over 52 years, the U.S. Postal Service (USPS) has faced a persistent and glaring misallocation of retirement fund obligations, resulting in over $90 billion dollars in unjust expenses. The 2010 independent “Segal report” exposed the flawed methodology used by the Office of Personnel Management (OPM) in valuing USPS contributions to the Civil Service Retirement System. Despite the report’s findings and Congress passing two laws that direct OPM to implement a new and fair valuation methodology, President Biden is sweeping the issue under the rug.
By directing the OPM to stop the raid on the Postal Pension Fund and implement overdue reforms outlined in the Segal report, the President can safeguard the USPS’s financial stability and honor his promise to the dedicated postal workers who have served the nation tirelessly for over half a century. It’s time for President Biden to prove his “pro-labor” agenda doesn’t exclude postal workers.
