USPS threatens health pension default (percentage, union, IRA, company)

[floridasandy]

USPS Threatens Health Pension Default
(denninger)

the payment is due on september 30.

[evilnewbie]

Pensions are the worse thing ever... you simply cannot guarantee money in the future because you DO NOT KNOW WHAT THE FUTURE WILL HOLD... people need to get a brain... my 401k, IRA didn't go up the past year... how can I expect pensions to go up... how do you promise things you cannot deliver... pensions need to be abolished... no company will survive if they keep promising something impossible... cause they can't see the future like everybody else...

[chet everett]

Lots of "games" get played with the various public employee type retiree health plans -- the politics are very very hinky. The situation with MANY of these plans is flat out nuts -- some jamoke starts working for an agency at 17 or so, puts in 35 years or less, retirees WELL BEFORE they can get Medicare and then milks a fortune out a benefit program while also getting some ridiculously high percentage of salary/wages. Then the Union or trustees go crying to Congress for an even bigger infusion of cash / tax payer money /slice of current revenues/budget that will DOOM both the agency and the long term deficit. Cost control? Not in the plan at all...

[floridasandy]

hr bill 22 likely to pass.

H.R. 22, a bill introduced in the House of Representatives by Rep. John McHugh and Rep. Danny K. Davis, would provide some much needed help.

H.R. 22 would modify a provision of the Postal Accountability and Enhancement Act, which requires the Postal Service to make annual payments ranging from $5.4 billion to $5.8 billion from 2007 to 2016 to “pre-fund” healthcare benefits for future retirees.

H.R. 22 would allow the Postal Service to pay its retiree health premiums from its Retiree Health Benefits Fund, rather than from its operating budget.

RUH ROW!