OIG Says USPS Overpaid Federal Government $75 Billion

OIG Says USPS Overpaid Federal Government $75 Billion

After an in-depth investigation, the OIG has concluded that an inequitable system for computing the Postal Service’s CSRS pension responsibility has caused the dramatic overpayment. 

In 2002 it was determined that the Postal Service was on track to overfund CSRS by $78 billion, and in 2003 the USPS was overcharged $27 billion for CSRS military service credits.

The newest overfunding debacle, if corrected, would more than offset the Postal Service’s deficit from Fiscal Year 2009 and the expected shortfalls in FY 2010 and 2011.

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Written on June 5, 2011