Audit Recommendations That May Require Additional Action by External Parties

Audit Recommendations That May Require additional Action by External Parties
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Fiscal Year Report Title Issue Date Report Number Financial Value Status Recommendation Summary Management Response
2017 Update for Measuring Pension and Retiree Health Benefits Liabilities 05/02/2017 FT-AR-17-007 $6,030,300,000 Closed R - 1 -- Continue to work with Congress to enact legislation that more accurately and fairly addresses Postal Service retirement liability reform, including the use of Postal Service-specific assumptions in preparing the Civil Service Retirement System, Federal Employees Retirement System, and retiree health benefits liabilities and Postal Service retiree participation in Medicare. Agree
2016 Revenue Forgone 05/03/2016 FT-AR-16-006 $1,615,993,029 Closed R - 1 -- Pursue changes to the Revenue Forgone Reform Act of 1993 to allow the remaining amount owed plus interest, totaling about $1.6 billion, be applied against the U.S. Postal Service's outstanding loans from the U.S. Department of the Treasury. Agree
2013 Using U.S. Postal Service-Specific Assumptions for Calculating the Federal Employees Retirement System Liability 09/27/2013 FT-MA-13-024 $9,480,000,000 Closed R - 1 -- Coordinate with the Office of Personnel Management to modify the future Federal Employees Retirement System liability calculation to use actuarial assumptions specific to the Postal Service and, based on the results, take action as appropriate. Agree
2013 Using U.S. Postal Service-Specific Assumptions for Calculating the Civil Service Retirement System Liability 09/27/2013 FT-MA-13-023 $1,300,000,000 Closed R - 1 -- Coordinate with the Office of Personnel Management to modify the future Civil Service Retirement System liability calculation to use actuarial assumptions specific to the Postal Service. Agree

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