Pass bill HR 1351 that would allow the postal service to transfer surplus pension funds to satisfy the retiree health plan prefund requirments and ultimately repeal the prefund requirement.
Why is this important?
In 2006 President Bush signed into law the requirement that the postal service was required to prefund retiree health benefits 75 years into the future to the tune of 5.5 billion annually for 10 years. Before this bill became law, the postal service was completely solvent and completely self-sufficient with no taxpayer support.
