• Prefund of its retiree benefits - a key contributor to the USPS current

    From Victor Manta@21:1/5 to All on Sun Mar 17 19:35:43 2019
    I read as follows:

    "The 2006 Postal Accountability and Enhancement Act requires the Postal
    Service — unlike other government entities — to prefund its retiree benefits
    well into the future, a massive expenditure that many have pointed to as a
    key contributor to the agency’s current fiscal plight.

    According to an Aug. 31, 2018, report by the U.S. Government Accountability Office, the Postal Service has not made its required payments to the fund
    since 2010."

    Source: https://www.linns.com/news/postal-updates/mnuchin-temporarily-suspends-usps-retirement-fund-payments

    Can anyone explain how payments that weren't done by USPS "since 2010" (that means over 9 years) could become a "key contributor to the agency’s
    _current_ fiscal plight"?

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  • From Sir F.A. Rien@21:1/5 to All on Mon Mar 18 08:20:54 2019
    "The 2006 Postal Accountability and Enhancement Act requires the Postal >Service unlike other government entities to prefund its retiree benefits >well into the future, a massive expenditure that many have pointed to as a >key contributor to the agencys current fiscal plight.
    According to an Aug. 31, 2018, report by the U.S. Government Accountability >Office, the Postal Service has not made its required payments to the fund >since 2010."
    Can anyone explain how payments that weren't done by USPS "since 2010" (that >means over 9 years) could become a "key contributor to the agencys
    _current_ fiscal plight"?
    Usual governmental 'accounting' and passing the blame!

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  • From Victor Manta@21:1/5 to Sir F.A. Rien on Thu Mar 21 17:13:14 2019
    "Sir F.A. Rien" wrote in message news:lodv8ehdeeh4pq45iji05pj7tqebqlltvd@4ax.com...

    <<
    "The 2006 Postal Accountability and Enhancement Act requires the Postal >Service — unlike other government entities — to prefund its retiree >benefits
    well into the future, a massive expenditure that many have pointed to as a >key contributor to the agency’s current fiscal plight.
    According to an Aug. 31, 2018, report by the U.S. Government Accountability >Office, the Postal Service has not made its required payments to the fund >since 2010."
    Can anyone explain how payments that weren't done by USPS "since 2010"
    (that
    means over 9 years) could become a "key contributor to the agency’s >_current_ fiscal plight"?


    Usual governmental 'accounting' and passing the blame!

    Yes, unfortunately.

    Victor Manta, PWO

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