Support H.R. 1351
H.R. 1351 - United States Postal Service Pension Obligation Recalculation and Restoration Act of 2011 prevents the financial collapse of the USPS without reducing mail delivery, closing thousands of post offices, eliminating hundreds of mail processing facilities, firing 120,000 workers or ending collective-bargaining rights.
It would allow the Postal Service to apply billions of dollars in pension overpayments to the 2006 congressional mandate that requires the Postal Service to pre-fund the healthcare benefits of not only current employees, but also of employees who have not yet been hired.
THis mandate was included as part of 2006 postal reform law and requires the USPS to pre-fund all future retiree health benefits.
No other federal agency or private enterprise is forced to pre-fund similar benefits, which forces the USPS to pre-fund a 75-year liability in 10 years – at a cost of $5.5 billion annually.
This Postal Service only mandate accounts for 100 percent of the Postal Service’s $20 billion in losses over the past four years and 100 percent of the rise in the Postal Service's debt in recent years.
Without this unrealistic and unfair mandate, the USPS would have shown a net surplus (profit) of $611 million over the past four fiscal years.
The U.S. Postal Service and its employees don’t want a taxpayer bailout. The U.S. Postal Service has not received any taxpayer funds in nearly 30 years.