IWCO Leads Postal Reform
CHANHASSEN, MN—Congressman John Kline (R-MN) paid a visit to the Instant Web Companies (IWCO) in January in support of the integrated direct mail services company’s position on PL108-18, the Postal Civil Service Retirement System (CSRS) Funding Reform Act of 2003.
Joining a delegation of Printing Industry of Minnesota members, IWCO President and CEO Jim Andersen met with Minnesota legislators last November to pick up support for legislative action that would correct what they see are shortcomings in PL108-18, primarily the funding of postal employee military pensions and the escrow of retirement savings—the difference between the corrected and uncorrected annual payment for CSRS retirement.
“I share the concern of The Instant Web Companies regarding the solvency of the postal retirement system and the inequitable funding of postal employee military pensions,” Kline said.
“I am working with Congressman John McHugh (R-NY), the immediate past chairman of the Postal Service Subcommittee and the current chairman of the Special Panel on Postal Reform and Oversight, to resolve this issue in an upcoming postal reform bill, which will have a provision to eliminate the escrow account and allow the USPS to operate under the new retirement payment formula.”
Andersen stressed that it’s vital for Congress to realize the devastating effects PL108-18 would have on the entire industry.