Discussion:
On the Post Office Losing money
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wolfbat359
2018-04-07 15:50:04 UTC
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El Castor
2018-04-07 17:13:38 UTC
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On Sat, 7 Apr 2018 08:50:04 -0700 (PDT), wolfbat359
Post by wolfbat359
https://scontent-dfw5-1.xx.fbcdn.net/v/t1.0-9/29694988_2025312934228417_2875610092855317095_n.png?_nc_cat=0&oh=060dcce19fc6567c7a7189d4275cde8c&oe=5B69EBDB
The Post Office defined benefit pension plan was woefully underfunded.
Unless it was forced to fully fund its pension system, it would either
betray its retirees, forcing congress to bail them out, or the Post
Office would just have to fully fund the system. Which should it be?

Couldn't happen??

"Sick … a punch in the stomach.That’s how public retirees in Loyalton,
California, are taking news that their town defaulted on its pension
payments, resulting in the possibility of their retirement benefits
being cut by as much as 60 percent, the majority of their hard-earned
livelihood."
http://www.sandiegouniontribune.com/opinion/commentary/sd-utbg-pension-default-loyalton-20161207-story.html

Public workers from two more towns expected to lose CalPERS pensions
http://www.sacbee.com/news/politics-government/the-state-worker/article172960601.html

"The $6 trillion public pension hole that we’re all going to have to
pay for"
https://www.marketwatch.com/story/why-your-states-public-pension-plan-is-in-a-much-bigger-hole-than-you-already-fear-2016-08-16
wolfbat359
2018-04-07 17:33:50 UTC
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Post by El Castor
On Sat, 7 Apr 2018 08:50:04 -0700 (PDT), wolfbat359
Post by wolfbat359
https://scontent-dfw5-1.xx.fbcdn.net/v/t1.0-9/29694988_2025312934228417_2875610092855317095_n.png?_nc_cat=0&oh=060dcce19fc6567c7a7189d4275cde8c&oe=5B69EBDB
The Post Office defined benefit pension plan was woefully underfunded.
Unless it was forced to fully fund its pension system, it would either
betray its retirees, forcing congress to bail them out, or the Post
Office would just have to fully fund the system. Which should it be?
No CForporation holds retirement funds for 75 years in the future!
Post by El Castor
Couldn't happen??
"Sick … a punch in the stomach.That’s how public retirees in Loyalton,
California, are taking news that their town defaulted on its pension
payments, resulting in the possibility of their retirement benefits
being cut by as much as 60 percent, the majority of their hard-earned
livelihood."
http://www.sandiegouniontribune.com/opinion/commentary/sd-utbg-pension-default-loyalton-20161207-story.html
Public workers from two more towns expected to lose CalPERS pensions
http://www.sacbee.com/news/politics-government/the-state-worker/article172960601.html
"The $6 trillion public pension hole that we’re all going to have to
pay for"
https://www.marketwatch.com/story/why-your-states-public-pension-plan-is-in-a-much-bigger-hole-than-you-already-fear-2016-08-16
El Castor
2018-04-08 07:27:45 UTC
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On Sat, 7 Apr 2018 10:33:50 -0700 (PDT), wolfbat359
Post by wolfbat359
Post by El Castor
On Sat, 7 Apr 2018 08:50:04 -0700 (PDT), wolfbat359
Post by wolfbat359
https://scontent-dfw5-1.xx.fbcdn.net/v/t1.0-9/29694988_2025312934228417_2875610092855317095_n.png?_nc_cat=0&oh=060dcce19fc6567c7a7189d4275cde8c&oe=5B69EBDB
The Post Office defined benefit pension plan was woefully underfunded.
Unless it was forced to fully fund its pension system, it would either
betray its retirees, forcing congress to bail them out, or the Post
Office would just have to fully fund the system. Which should it be?
No CForporation holds retirement funds for 75 years in the future!
Post by El Castor
Couldn't happen??
"Sick … a punch in the stomach.That’s how public retirees in Loyalton,
California, are taking news that their town defaulted on its pension
payments, resulting in the possibility of their retirement benefits
being cut by as much as 60 percent, the majority of their hard-earned
livelihood."
http://www.sandiegouniontribune.com/opinion/commentary/sd-utbg-pension-default-loyalton-20161207-story.html
Public workers from two more towns expected to lose CalPERS pensions
http://www.sacbee.com/news/politics-government/the-state-worker/article172960601.html
"The $6 trillion public pension hole that we’re all going to have to
pay for"
https://www.marketwatch.com/story/why-your-states-public-pension-plan-is-in-a-much-bigger-hole-than-you-already-fear-2016-08-16
"Why the "Postal Overpayment" Is Really A Taxpayer-Funded Bailout"
http://postal.oversight.house.gov/postal_surplus.html

Here was the state of the postal pension system back in 2011 ...

"With Pensions Threatened, Postal Workers Union Goes on Offense" ...
"The USPS owes $5.5 billion—due September 30—to future retirees’
health benefits, which the Postmaster General says it can’t pay. Its
continuous hemorrhaging of money is creating the looming specter of a
postal bailout." ...
"The Postal Service employs three times as many union members as the
U.S. auto industry, and, like the auto industry, employee benefit
costs are crushing it. Just last month, the Postal Service had to
suspend contributions to employee pensions because the agency is
already drowning in red ink. Postal employees also earn 15 percent to
20 percent more per hour than comparable workers in the private
sector."
https://www.dailysignal.com/2011/07/20/with-pensions-threatened-postal-workers-union-goes-on-offense/
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