Tue. Jul 23rd, 2024

Postal union leader: Stop the misallocation of Civil Service Retirement System pension costs

January 30, 2024

READ FULL ARTICLE AT » Government Executive

The Postal Service is the indispensable foundation of the nation’s mailing industry – an industry supporting over 7.9 million jobs and a $1.9 trillion industry. Postal employees, characterized by their hardworking, diligent, and reliable nature, form a steadfast workforce. Their consistent service positively impacts every American’s daily life, particularly in this age of booming e-commerce. Americans depend on USPS and its robust processing and delivery networks to deliver tens of millions of packages every day of the year, as well as bills, Social Security checks, ballots, and heartfelt letters.

With this long and proven record of service to the American people, it’s hard to understand why the U.S. Treasury has persistently and unfairly tapped the retirement funds of this essential workforce for over half a century.

That’s right, for some 52 years, a glaring misallocation of pension liabilities has persisted, resulting in about $90 billion in unjust expenses to USPS, harming postal employees and postage ratepayers.

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