Report File
Date Issued
Submitting OIG
U.S. Postal Service OIG
Other Participating OIGs
U.S. Postal Service OIG
Agencies Reviewed/Investigated
U.S. Postal Service
Report Number
19BG010FT000-R20
Report Description
Our objective was to explore two options to address reducing unfunded retirement liabilities. First, we evaluated potential changes to life expectancy (mortality-improvement) assumptions used to calculate the RHB liability. Next, our investment consultant determined the potential impact of investing Postal Service retirement contributions (and employee contributions to CSRS and FERS) in six different sample portfolios of diversified assets, beginning in fiscal year 2020. Retirement assets held in Treasury as of the end of fiscal year 2019 would remain in Treasury, earning interest and funding pension payments and RHB premiums, until balances reach zero.
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
1
Questioned Costs
$0
Funds for Better Use
$4,208,914,264
