Re:U.S. Postal Workers Were on the Front Lines Before. They ...
by Shivetya on Monday April 13, 2020 @05:08PM
(#22859981)
Well that is the line we are always fed but it hasn't been true[0] since day one. In effect they are under similar rules to most private pensions in funding out to 25 years with requirements to project what their 75 year liability would be. Another view [1]
Simply put, the use of the Postal Service has dropped a lot but the number of employees retired or eligible to retire has not. In other words, they have so many eligible for full benefit retirements that they were not even trying to service the debt and instead likely to end up defaulting it to the PBGC which would have gutted payments and left retirees in a lurch.
Simply put, the use of the Postal Service has dropped a lot but the number of employees retired or eligible to retire has not. In other words, they have so many eligible for full benefit retirements that they were not even trying to service the debt and instead likely to end up defaulting it to the PBGC which would have gutted payments and left retirees in a lurch.
So what would you have?
[0]https://www.cnbc.com/id/45018432
[1]https://www.forbes.com/sites/ebauer/2019/05/13/why-aoc-is-mo...