It has been a great year for the U.S. Postal Service (USPS). But it is now pushing the Biden Administration hard for another $14 billion on top of $120 billion in taxpayer funds it has received since December 2020. By law, USPS is supposed to be self-supporting.
At issue is a large but arcane request from USPS to have its Civil Service Retirement System (CSRS) pension obligations readjusted so it receives a $14 billion credit from the Office of Personnel Management (OPM). This pertains to benefits for postal employees before 1971.
This matter has already been extensively examined by Congress, the U.S. Government Accountability Office (GAO), and OPM.
Lexington Institute’s Paul Steidler discusses this in an Op-Ed in RealClearMarkets here.
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