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Is it over funded? The post office has about 500K employers and their business is in slow decline and will continue to decline. Their bread and butter is first class mail because of the mnadate and that is no longer going to sustain them. We have pensions across this country with huge financial issues, sounds like responsibility to me.
They have to fund it for 75 years into the future. There is no other government agency that must do so. None.
Is it over funded? The post office has about 500K employers and their business is in slow decline and will continue to decline. Their bread and butter is first class mail because of the mnadate and that is no longer going to sustain them. We have pensions across this country with huge financial issues, sounds like responsibility to me.
Wrong. They are funding it for employees who haven't even been born yet. And their bread and butter is not first class mail, it's packages and junk mail.
The USPS went from profitible to billions of dollars in debt overnight because of the pension change. Name any company or entity, public or private, that has that kind of burden? Cite specific examples.
What's your source for this? This has been under consideration for a couple of years, yet you are reporting it as though it were new and as though the decision has already been made. I don't believe either of these is correct.
If you're trying to start a discussion I don't mind contributing. I think it would be fine to save USPS funds by eliminating Saturday deliveries.
it appears to be official: my husband just read it as well. I have no problems with eliminating Sat delivery. Just think of what, most of us get in the mail now and how much is done on line. About all we get are a few statements, maybe a good wish card, like Christmas, birthdays etc and a lot of catalogs or solicitations for new CCards or crap about transfering this to that...Very rarely do we get anything of real importance, maybe once or twice a week.
Well when the right makes them fund their pension plan 75 years in advance to try to make them more unstable so they have a reason to shut them down its going to have to cut somewhere.
Yeah, because just ignoring the problem and then cutting the pensions after they retire is the better route to take?
This is the discussion that has been going on in Illinois and other places.
Yeah, just ignore those costs...kick that can down the road until NOBODY will buy your crappy debt instruments and you just stop paying.
That's a recipe for disaster. Did we learn NOTHING from all the companies that went bankrupt over the years and they show pensioners from airlines, steel mills etc. getting 50-70 cents on the dollar?
They have to fund it for 75 years into the future. There is no other government agency that must do so. None.
The USPS has 500K employees and their business is in decline, as the first class mail customers continue to decline they are going to become less competitive and have less and less revenue in the future to fund these pensions. We have numerous private and public pensions failing across the entire nation becsue they have been underfunded, we don't need another one the taxpayer will have to bail out in the future especially considering the size of this one.
They should also completely stop delivering to Congress. Let them do without their payoff checks.
Do you really think any of them get their paychecks via the mail? Heck, except for my small retirement check I don't get anything like that via the mail. SS checks do not come through the mail: in fact I don't know much that comes through the mail. I can't imagine anyone being bothered about Sat delivery being stopped? I can remember when we had 2 deliveries a day except Sat.. When the converted to one a day, nothing drastic happened did it?
it appears to be official: my husband just read it as well. I have no problems with eliminating Sat delivery. Just think of what, most of us get in the mail now and how much is done on line. About all we get are a few statements, maybe a good wish card, like Christmas, birthdays etc and a lot of catalogs or solicitations for new CCards or crap about transfering this to that...Very rarely do we get anything of real importance, maybe once or twice a week.
Yep. It's about freaking time too.
Any private company that takes a decade or so to react to major changes in their industry wouldn't even be around today (well, unless they got huge bailouts from the government )
Name any company or entity, public or private, that has that kind of burden? Cite specific examples.
I can name hundreds of public and private pensions that are failing, I don't know if you missed the memo but one of the major reasons so many state and local governments are in such financial turmoil is becsue of underfunded pensions.
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