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There is only a projected surplus, and spending it outside of a comprehensive, cost-cutting plan is bad policy.
The Postal Service, in addition to a number of other federal agencies, has a temporary, projected surplus in its Federal Employee Retirement System accounts.
The United States Postal Service will only forward your benefit check and other correspondence to a new address for a limited time (assuming you have filed a Change of Address Order with them).
You can change your address online or contact us by telephone, mail or fax.
The United States Postal Service was created in 1971 from the old Post Office Department in order to provide better mail delivery and let it act more like a business.
USPS has to save now, or it will not be able to afford retiree health care later.
The Postal Service argues that if a formula it considers to be fair had been used instead, then it would be owed - billion by the US Treasury. The original formula was instituted as part of a broader set of decisions concerning the creation of USPS.
For instance, those decisions included not charging any fee to USPS in return for the postal monopoly it was granted.
These catch-up payments will ensure USPS has saved enough money now to meet these obligations later.
Within the next few years, the annual costs of paying current benefits will dwarf current costs.
If the Postal Service were allowed to immediately cease making these catch-up payments, it would have an unfunded liability of nearly $100 billion by 2017.