Will Congress Say Yes to USPS Pension Change?
The U.S. Postal Service, mailers and the Bush administration are confident Congress will approve legislation that could keep postal rates steady until 2006, but passage may be a tougher fight than first thought.
The legislation is needed for the postal service to lower its pension contributions after a review revealed it has almost fully funded future obligations for postal employees and retirees in the Civil Service Retirement System. As a result, it could lower its retirement contributions by $2.9 billion in fiscal year 2003 and $2.6 billion in FY ’04.
