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U.S. Postal Service : status, financial outlook, and alternative approaches to fund retiree health benefits : report the Chairman, Committee on Oversight and Government Reform, House of Representatives.
- Format:
- Book
- Government document
- Author/Creator:
- United States. Government Accountability Office
- Language:
- English
- Subjects (All):
- United States Postal Service--Appropriations and expenditures.
- United States Postal Service.
- Employer-sponsored health insurance--United States--Finance.
- Employer-sponsored health insurance.
- Retirees--Medical care--United States--Finance.
- Retirees.
- Retirement.
- Insurance, Health--economics.
- United States.
- Expenditures, Public.
- Retirees--Medical care--Finance.
- Medical Subjects:
- United States Postal Service.
- Insurance, Health--economics.
- Retirement.
- United States.
- Physical Description:
- 1 online resource (iv, 72 pages) : illustrations
- Other Title:
- United States Postal Service : status, financial outlook, and alternative approaches to fund retiree health benefits
- Status, financial outlook, and alternative approaches to fund retiree health benefits
- Place of Publication:
- [Washington, D.C.] : U.S. Govt. Accountability Office, [2012]
- Summary:
- PAEA required USPS to prefund its future retiree health benefits as part of comprehensive postal reform by establishing the PSRHBF along with an initial target period to fund the unfunded liability in 50 years. This requirement included annual payments to this fund from 2007 to 2016 of between $5.4 billion to $5.8 billion. USPS, its employee groups, and others have argued that this prefunding requirement is a major source of USPS's financial woes--reported by USPS as contributing $32 billion toward its $41 billion of net losses over the past 6 years. USPS defaulted on the last 2 years of PSRHBF payments totaling $11.1 billion. As requested, this report addresses the (1) status and financial outlook of the PSRHBF, (2) impact on future annual USPS payments and unfunded liabilities of alternative approaches, and (3) key considerations for policymakers. GAO reviewed and summarized PSRHBF financial data and analyzed and compared current law requirements with five alternative approaches by developing projections based on OPM and USPS data.
- Notes:
- Title from title caption (viewed on Dec. 31, 2012).
- "December 2012."
- Includes bibliographical references.
- "GAO-13-112."
- OCLC:
- 823385218
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