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Member, Beacon International Group, Ltd.
The U.S. House of Representatives overwhelmingly approved a bill on Feb. 9 to provide the U.S. Postal Service with about $50 billion in financial relief over a decade and requiring future retirees to enroll in a government health insurance plan, Reuters reports. The bill would eliminate requirements USPS pre-fund retiree health benefits for current and retired employees for 75 years, which USPS projects would sharply reduce its pre-funding liability and save it roughly $27 billion over 10 years. It would also require future retirees to enroll in Medicare.