Last week, the Postal Regulatory Commission submitted an independent report on the overpayment of Civil Service Retirement System (CSRS) benefits paid to former Post Office Department employees.
The report was given to Congress, the Office of Personnel Management and the United States Postal Service.
The PRC report finds that an adjustment of $50-$55 billion in favor of the Postal Service would be "equitable." The USPS Office of the Inspector General reported in January that the overpayment was $75 billion.
It comes down to the costs of retirees who served under the old Postal Department, which ceased to exist on July 1, 1971. Under the reorganziation, those costs were to be born totally by the federal government. A complicated, but apparently flawed system of compensation was constructed and it looks like the new Postal Service has been paying too much.
So, what do you think?
Here are some questions to ask:
Is the premise by the OIG and now the PRC valid?
What are the chances of USPS getting any adjustment?
Should USPS continue with downsizing efforts?