The United States Postal Regulatory Commission (or PRC), formerly called the Postal Rate Commission, is an independent regulatory agency created by the Postal Reorganization Act of 1970. Like the Postal Service, it was defined in law as an independent establishment of the executive branch. History Postal Rate Commission The Postal Reorganization Act of 1970 created the PRC—originally named the Postal Rate Commission—to set the rates for different classes of mail by holding hearings on rates proposed by the United States Postal Service (USPS). From 1970 through 2006, the PRC also had oversight authority over the USPS in areas besides rates changes. Specifically, that additional oversight consisted of conducting public, on-the-record hearings concerning proposed mail classification or major service changes and of recommending actions to be taken by the postal Governors. Postal Regulatory Commission The Postal Accountability and Enhancement Act of 2006 (Public Law 109-435) enacted on December 20, 2006, made several changes to the Postal Regulatory Commission. Besides giving the body its current name, the Postal Accountability and Enhancement Act significantly strengthened the Commission's authority to serve as a counterbalance to new flexibility granted to the USPS in setting postal rates. The Postal Accountability and Enhancement Act requires the Postal Regulatory Commission to develop and maintain regulations for a modern system of rate regulation, consult with the Postal Service on delivery service standards and performance measures, consult with the Department of State on international postal policies, prevent cross-subsidization or other anti-competitive postal practices, promote transparency and accountability, and adjudicate complaints. The law also assigns new and continuing oversight responsibilities to the Postal Regulatory Commission, including annual determinations of USPS compliance with applicable laws, development of accounting practices and procedures for the Postal Service, review of the Universal Service requirement, and assurance of transparency through periodic reports. New enforcement tools given to the PRC include subpoena power, authority to direct the Postal Service to adjust rates and to take other remedial actions, and levying fines in cases of deliberate noncompliance with applicable postal laws. Retiree Health Benefits Fund According to the Postal Accountability and Enhancement Act, the United States Postal Service must make annual payments of between $5.4 billion and $5.8 billion to the Postal Service Retiree Health Benefits Fund from 2007. This provision of the law has been highly controversial, as no other federal agency is required to pre-fund future retirees' health benefits in this manner. The consequences of this