The struggling US Postal Service has now funded 105% of its pension benefit obligations and built up a $13.1bn surplus – but can’t touch any of it without Congressional action.
A fresh calculation of the USPS pension surplus has been issued by the Office of the Inspector General with hopes that the US House of Representatives might consider a postal reform bill to rectify the situation next month.
The OIG report also notes that the Postal Service has now funded pumped $44.1bn into the federal coffers to fund 50% of its Congressionally mandated obligation to cover its retiree healthcare benefit obligations 40 years ahead.
It suggests that the Postal Service could use its $85bn property portfolio to cover the remaining $46bn of outstanding payments, to avoid further debt...
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USPS now has $13.1bn pension surplus, but no access to it
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USPS now has $13.1bn pension surplus, but no access to it
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.