United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2003-01-31 monographic deposited born digital GA 1.13:GAO-03-448R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-448R P0b002ee180384166 f:d03448r DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-03-448R machine generated eng fdlp REPORT GAOREPORTS-GAO-03-448R GAO-03-448R Future budget projections Proposed legislation Retirement benefits Economic analysis Funds management Budget administration Civil Service Retirement System Correspondence A06023 In our December 2001 report, "United States Postal Service: Information on Retirement Plans" (GAO-02-170), we raised the question of whether the United States Postal Service (USPS) was paying more or less than appropriate to cover benefit payments for the Civil Service Retirement System (CSRS) for which it is responsible. In May 2002, we asked the Office of Personnel Management (OPM) to calculate a hypothetical "Postal Fund" balance and projected funding status by estimating the present value (PV) of the future benefits USPS is required to fund for CSRS retirees and survivors under current law and extent to which prior and projected future contributions required by current law would fund these benefits. OPM released its analysis in November 2002, indicating that, based on current contributions, USPS's CSRS obligations would be significantly overfunded in the future. The Administration has proposed legislation that addresses this overfunding. In this correspondence we will (1) review OPM's analysis for reasonableness and (2) analyze the legislative proposal to identify any issues needing further consideration. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-448R/html/GAOREPORTS-GAO-03-448R.htm GAO-03-448R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-448R Correspondence GAO-03-448R; Review of the Office of Personnel Management's Analysis of the United States Postal Service's Funding of Civil Service Retirement System Costs; Future budget projections Proposed legislation Retirement benefits Economic analysis Funds management Budget administration Civil Service Retirement System Public Law 91-93 Public Law 91-375 Public Law 93-349 Public Law 93-381 Public Law 93-554 Public Law 100-203 Public Law 101-239 Public Law 101-508 Public Law 103-66 H. Rept. 93-1378 H. Rept. 101-964