Post Office Pensions: Some Key Myths And Facts

It gripes me and it should you when politicians open their mouths about what they no nothing about with the sole purpose of taking a political shot.

“Makes no sense?” The same funding makes sense for every employer in the US offering similar benefits. Gee, from bartender to pension expert and actuary in a few months šŸ˜±

I urge you to read the full article at the link below.

Yes, Iā€™ve written about the Post Office before, both back a year ago and at the beginning of the month. This article attempts to distill the issue into basics, a version of those articles, as concerns about the United States Postal Serviceā€™s short- and long-term viability continue. Also, I am discussing neither the general business model nor speculation as to the Trump administrationā€™s intentions. Bearing that in mind, letā€™s begin:

MYTH: The Post Office is required to fund pensions in advance in a manner applies to no other private-sector company.

Source: Post Office Pensions: Some Key Myths And Facts

3 comments

  1. The Post Office has been in a catch-22 headlock for forty years. They cannot raise revenue without getting permission, nor can they reduce services without getting permission.

    A painful reality is that while Sandi Ocasio is the most visible member of Congress who knows little about business (or government) she has dozens, no hundreds, of fellow members who know little more than she does.

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  2. Thank you for the link. I really was not interested until I saw AOC’s tweet. She is almost always wrong, so I figured I better read the article. My take is that the Post Office underfunded its pension obligations for decades and had 10 years to make that up. Email and e-commerce hurt snail mail. Since the post office is still losing money there must be some kind of truth about what Trump tried to do in getting the post office to raise rates for the e-commerce package’s final mile. I know I cannot ship Christmas packages for what Amazon charges me for shipping, if at all, so it is easy to see why the post office is losing money when they deliver Amazon’s or other e-commerce packages for the final mile.

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