New Bill Scraps Mandate Forcing USPS to Prefund Pensions Decades in Advance [View all]

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https://truthout.org/articles/new-bill-scraps-mandate-forcing-usps-to-prefund-pensions-decades-in-advance/

The USPS Fairness Act, an earlier version of which cleared the House last February, would “repeal the requirement that the United States Postal Service prepay future retirement benefits,” a rollback supported by the 200,000-member American Postal Workers Union (APWU) and other organizations representing mail carriers.

“The bipartisan USPS Fairness Act is one of the first steps toward returning the Postal Service to solid financial footing, and I urge Congress to quickly pass this critical legislation,” said APWU president Mark Dimondstein.

Approved by a Republican-controlled Congress and signed into law by former President George W. Bush in 2006, the Postal Accountability and Enhancement Act “required the Postal Service to create a $72 billion fund that would pay for its employees’ retirement health benefits for more than 50 years into the future,” NBC News explained Tuesday.

“This is not required [of] any other federal agency,” NBC noted.

Rep. Peter DeFazio (D-Ore.), the lead House sponsor of the USPS Fairness Act, said in a statement Monday that “the unreasonable prefunding mandate has threatened the survival of the USPS and placed at risk vital services for the millions who rely on it.”

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