Prefund of its retiree benefits - a key contributor to the USPS current fiscal plight?

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Victor Manta

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Mar 17, 2019, 7:35:44 PM3/17/19
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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"?

Sir F.A. Rien

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Mar 18, 2019, 11:20:56 AM3/18/19
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>"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!

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Victor Manta

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Mar 21, 2019, 5:13:16 PM3/21/19
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"Sir F.A. Rien" wrote in message
news:lodv8ehdeeh4pq45i...@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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