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>This burden applies to no other federal agency or private corporation." Pensions for retired employees are, generally speaking, paid by the contributions of t
by 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.