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2013 Report on Form 10-K United States Postal Service 33
chamber. Until a law is passed that refunds the Postal Service surplus, the OIG report recommends that Postal Service
contribution rates be adjusted to reflect the Postal Service-specific assumptions. Accordingly, we continue to request that
OPM utilize Postal Service-specific salary and demographic assumptions in its calculations of our FERS liability and
normal cost contribution percentage.
The following table provides OPM’s estimation of the funded status of the CSRS and FERS programs for Postal Service
participants as of September 30, 2012, and 2011, and the projected Postal Service status as of September 30, 2013. The
following amounts have been estimated based upon assumptions from Federal Government Employee demographics,
rather than the demographics of the Postal Service’s workforce.
Present Value Analysis of Retirement Programs as calculated by OPM
(9/30/13 latest actual data available)
(Dollars in billions)
Actual
Actual
CSRS 2013 2012 2011
Actuarial Liability 9/30 $ 208.8 $ 209.5 $ 210.8
Current Fund Balance
189.0
190.7
193.0
Unfunded $ (19.8) $ (18.8) $ (17.8)
FERS
Actuarial Liability 9/30 $ 97.4 $ 90.8 $ 84.0
Current Fund Balance
97.9
91.7
86.6
Surplus $ 0.5 $ 0.9 $ 2.6
Actual
TOTAL CSRS and FERS 2013 2012 2011
Actuarial Liability 9/30 $ 306.2 $ 300.3 $ 294.8
Current Fund Balance
286.9
282.4
279.6
Unfunded $ (19.3) $ (17.9) $ (15.2)
Actual
Projected
Projected