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IG Report: Postal Service Overfunded Fed Pension $13B

The Postal Service has given $13.1 billion too much into a federal pension fund during fiscal year 2011, the Washington Post reports.

A recent inspector general report suggested the agency get a refund, but the Office of Personnel Management is not allowed to make such a payment, according to Timothy R. Smith’s story.

Congress must intervene with legislation in order to have the funds returned.

The inspector general said the agency has lost $17 billion over the past three years, according to the report.

According to the Post, a provision in the 2012 Postal Reform Act passed by the Senate would return the surplus.

That legislation is currently in the House.

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