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In Reply to: RE: In theory, true posted by B. Scarpia on December 28, 2020 at 20:47:46:
The quandary is due to a bill enacted back in 2006 that dictated the USPS prefund the health care benefits for 75 years into the future over a ten year period. That's a burden that no other governmental agency or private enterprise is required to endure.As for retirement benefits, all employees who started after 1 January 1984 have been enrolled in the FERS program. That's the same program as all other Federal employees are enrolled in. I started in the USPS in November 1983 and enrolled in the CSRS program. Fewer than 1% of USPS employees are in that program. The FERS program gives the equivalent of 5% of an employees wages to her/his account. The employee can then contribute up to 15% of their wages into investment plans that range from slow growth returns to higher risk/higher return plans. When the investment market is good, there are smiles all around. When the markets tank, as they did at the end of W's administration, the smiles are turned into frowns. Losses of 30% of value weren't uncommon.
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- RE: In theory, true - Postal Grunt 12/28/2022:23:44 12/28/20 (0)
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