Financial Reporting: Accounting for the Postal Service's Postretirement Health Care Costs
AFMD-92-32
Published: May 20, 1992. Publicly Released: May 20, 1992.
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Highlights
Pursuant to a congressional request, GAO reviewed the U.S. Postal Service's (USPS) reporting of postretirement health care costs in its financial statements.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| United States Postal Service | The Postmaster General should direct the Assistant Postmaster General, Department of the Controller, to provide a note to the financial statements which, at a minimum, describes the postretirement health care benefits plan, the estimated amounts of postretirement health care benefits earned by employees and retirees since July 1, 1971, to the date of the statements less the related amounts of benefits used, the estimated amounts of benefits attributable to the period(s) covered by the statements, and the assumptions under which the estimates were derived. |
Closed – Not Implemented
The Postal Service disagreed with the recommendation and no action is planned.
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Topics
Accounting proceduresEmployee benefit plansEmployee medical benefitsFinancial recordsRetireesFuture budget projectionsHealth insurance cost controlPostal ratesPostal service employeesReporting requirementsRetirement benefits