Although the U.S. Postal Service is sinking financially, it has overpaid its own pension fund by $13.1 billion, a federal audit showed June 18.
That money would be welcome for the cash-strapped service, which recently started closing up mail processing centers, cutting hours at post offices and offering buyouts to thousands of employees.
But the Postal Service canít get at the overpayment, and it will keep overpaying pensions unless Congress steps in and authorizes changes. The U.S. Postal Service can't refund the surplus, either current or future, otherwise.
For the full story, see Federal News Radio, click HERE.