3 ms·
In case you don't know: the government passed a law that USPS must prefund all benefits (like pensions), which is extremely uncommon (pay-as-you-go is typical).
by Scaevolus 8y ago
In case you don't know: the government passed a law that USPS must prefund all benefits (like pensions), which is extremely uncommon (pay-as-you-go is typical).
https://www.cnbc.com/id/45018432 https://www.cnbc.com/id/45018432
- pstrateman 8y agopay-as-you-go is typical and nearly universally results in bankruptcy of the pension plan. requiring USPS to pay for obligations incurred today isn't some crazy scam to bankrupt them
- crankylinuxuser 8y agoActually requiring a fund in escrow to complete its promises is what all companies should have been required to do. Employees took a willful paycut to save money for later... But, why does the company care? You want to know what happens when they don't? They declare bankruptcy and the judge dismisses the pensions, and the federal government takes it over.