That ocean of red ink followed a controversial decision by Congress in 2006 to require the Postal Service to, within a decade, fund its pension obligations for the next 75 years, at the cost of $5.5 billion a year. No other government agency is subject to that requirement, and analysts say the Postal ServiceÂ’s pension fund is drastically overfunded.
We think the pension requirement should be revisited to give the Postal Service some relief, either in the number of years that need to be prefunded or in the time frame of the payments, although too many pension plans have imploded for us to advocate a return to “pay as you go” funding.
OUR VIEW: Postal Service struggles | GadsdenTimes.com