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Changes in the payment schedule will require a modification of the current law by Congress. This necessary change in the law would mean a reduction of postal costs of $2.9 billion in fiscal year 2003 and another $2.6 billion in fiscal year 2004. Changes proposed by the USPS and supported by the Bush Administration would have the USPS fully fund all of its future pension liabilities and correct its payment schedule for past liabilities.
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