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View Diary: I went to the Post Office today (127 comments)

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  •  The pension thing is utterly insane (6+ / 0-)

    If you figure the retirement age at 65, then they are being required to fund the retirements of all existing and possible future employees, up to and including people who won't be born until 2015.

    For any future postal employee born in 2015, the post office will have had to set the money for that person's pension aside starting two years before his/her mother's ovary formed that fateful egg, resulting in a grand total of 67 years of lost economic contribution from those dollars.

    •  It's pre-funding health benefits, not retirement (2+ / 0-)
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      JesseCW, Dark UltraValia

      The effect is the same, if you are trying to kill the USPS, but the PAEA of 2006 mandated the unnecessary pre-funding of retiree health benefits at a $5.5 billion dollars per year clip.

      Actually the Postal pension funds were in great shape in 2006, the Civil Service Retirement System (CSRS} fund (some older USPS are covered by CSRS) was estimated by one source to be overfunded by about $50 billion. The Federal Employees Retirement System (FERS) fund, which covers most current USPS employees who began their service after 1984, was also greatly overfunded. That's why USPS retiree health benefits were chosen for the pre-funding (destruction of the Post Office) scheme.

      By the way, there was a really good diary entitled "Save the Postal Service" by jcullen a year or so ago. Here is the link:

      If you want to go further in figuring out who is behind all this, follow the crumbs and you will get to ALEC, and former Congressman and Secretary of the Army John McHugh. He was a co-sponsor of the PAEA, in addition to being an ALEC alum. His chief of staff, Robert Taub, was appointed in 2012 to be the co-chair of the Postal Regulatory Commission (PRC) by PBO (WTF??). Taub has been given pubic credit as the author of PAEA, but may have received some rather detailed materials from ALEC which helped him along.

      Eradicate magical thinking

      by Zinman on Tue Mar 26, 2013 at 06:38:04 PM PDT

      [ Parent ]

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