Postal Service Must Immediately Fund Employee Pension Obligations (From FEDweek)

The U.S. Postal Service (USPS) is legally obligated to provide $5 billion in funding for its employees’ pensions by September 30. If it fails to do so, employees’ retirement benefits are at far greater risk, and a terrible precedent will be set that could seriously erode the value of these plans and even what employees receive. It would also send a clear signal that USPS’s finances are again in major trouble.

As such, USPS’s Board of Governors, postal labor unions, and Congress should all demand full funding by September 30 to the U.S. Office of Personnel Management. This goes to the heart of USPS’s credibility and proper financial stewardship.

Lexington Institute’s Paul Steidler discusses this in an Op-Ed for FEDweek here.