"A proposal requiring all private and public entities to include pension costs in their annual financial reports 'heightens the urgency to get postal reform done,' according to a source close to the legislation lodged in a House-Senate conference.
The Financial Accounting Standards Board proposal requires all abiding firms, including the U.S. Postal Service, to report post-retirement benefit costs in its annual budget. Currently, the Postal Service reports its pension costs on a year-to-year basis, rather than accounting for the entire sum on an accrual basis.
Under the proposed FASB rule, the Postal Service would report a projected $60 billion for retiree health benefits, according to Gene Del Polito, president of the Association for Postal Commerce, a group representing direct mailers. The agency also would have to submit a plan detailing how it would pay for the reported costs. To generate that money, Del Polito said the Postal Service would have to raise its rates."