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<blockquote data-quote="Catatonic" data-source="post: 801538" data-attributes="member: 7966"><p>Go to page 4 of this PDF at</p><p><a href="http://www.usps.com/financials/_pdf/annual_report_2010.pdf" target="_blank">http://www.usps.com/financials/_pdf/annual_report_2010.pdf</a></p><p>and you can see the actual picture.</p><p></p><p>The USPS is actually being forced to over-contribute $5 Billion per year to pre-fund the Postal Service’s Civil Service Retirement System (CSRS) pension fund.</p><p>No other government pension fund nor any private company is required to "pre-fund" a pension fund and the USPS is asking the government oversight committee to treat the USPS like all other pension funds in a pay-as-you-go method.</p><p>The USPS reports losing $2.8 in 2010 due to this $5 B overpayment -- not the claimed 8.5 B.</p><p>The USPS has accumulated $12 Billion in US Government debt as a result of these required over-payments since 2006. If the over-funding is reversed by the USPS oversight committee then the USPS would have had an 8 billion profit over the last 5 years.</p><p>As a side note, the USPS had no debt in 2005 before this over-funding started in 2006.</p><p></p><p>Thank you <strong>Not In Trace</strong> for prodding me to understand this better.</p></blockquote><p></p>
[QUOTE="Catatonic, post: 801538, member: 7966"] Go to page 4 of this PDF at [url]http://www.usps.com/financials/_pdf/annual_report_2010.pdf[/url] and you can see the actual picture. The USPS is actually being forced to over-contribute $5 Billion per year to pre-fund the Postal Service’s Civil Service Retirement System (CSRS) pension fund. No other government pension fund nor any private company is required to "pre-fund" a pension fund and the USPS is asking the government oversight committee to treat the USPS like all other pension funds in a pay-as-you-go method. The USPS reports losing $2.8 in 2010 due to this $5 B overpayment -- not the claimed 8.5 B. The USPS has accumulated $12 Billion in US Government debt as a result of these required over-payments since 2006. If the over-funding is reversed by the USPS oversight committee then the USPS would have had an 8 billion profit over the last 5 years. As a side note, the USPS had no debt in 2005 before this over-funding started in 2006. Thank you [B]Not In Trace[/B] for prodding me to understand this better. [/QUOTE]
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