Kodak moves to end health coverage for retirees 65 and older

[Yo_Mama]

28. If you read that article carefully,

you see that there was a huge change in assumptions that produced most of the underfunding.

There is no explanation on the assumptions, so it is very suspicious. Perhaps it is related to plans to cut US postal workers and is well-founded - I don't know.

I do know that a few years ago I looked at the situation, and the postal service plans still appeared underfunded.

100% financing is the rule for private pension plans, contrary to what everybody is writing. The postal service is a hybrid public/private company, but its obligations SHOULD be 100% funded, and that includes retirement medical.

GASB standards (government) are very different than FASB (private) pension accounting standards. This is one of the factors that has led to dire underfunding of many government pensions.

Well, pension accounting is not the most thrilling topic, but here is a relatively readable explanation:
http://www.actuary.org/pdf/pension/fundamentals_0704.pdf