USPS not pleased with overpayment report

In its response, USPS essentially says that GAO mistakenly endorses a 1974 law as key to figuring out the agency’s obligations to CSRS, instead of later legislation and actuarial practices.

{mosads}“In conclusion, the report offers no room for compromise, relying almost entirely as it does on the mistaken assumption that the 1974 law represented Congress’ final determination on the fairness of the allocation of pension costs between the Postal Service and the U.S. Treasury,” Joseph Corbett, the Postal Service’s chief financial officer, wrote to the GAO.

The question of whether USPS overpaid into CSRS dates back years. The modern Postal Service was established as a quasi-independent agency tasked with taking care of its own obligations through postal revenues.

The agency is now facing stark financial troubles, with mail traffic having declined swiftly in recent years as consumers increasingly use digital communication.