4 ms·
"The Postal Accountability and Enhancement Act (PAEA) required the USPS to create a $72 billion fund to pay for the cost of its post-retirement health care cost
by op00to 5y ago
"The Postal Accountability and Enhancement Act (PAEA) required the USPS to create a $72 billion fund to pay for the cost of its post-retirement health care costs, 75 years into the future. *This burden applies to no other federal agency or private corporation*." [1]
[1] https://ips-dc.org/how-congress-manufactured-a-postal-crisis-and-how-to-fix-it/ https://ips-dc.org/how-congress-manufactured-a-postal-crisis...
- TMWNN 5y ago>This burden applies to no other federal agency or private corporation." Pensions for retired employees are, generally speaking, paid by the contributions of today's employees. No other federal agency has a business that is guaranteed to continue declining in volume and revenue. Congress recognized this in 2006; this is why said law was passed near unanimously. Better a decade of pain, than to not have USPS pensions fully funded in the future. And as for the private companies that are also guaranteed to be declining in revenue, I bet a lot of retirees of newspaper publishing companies wish that their employers had been required to similarly bulk up their pension plans c. 2005.