US Postal Service loses $2B this spring

[Kilgore]

40. Pre-funding will secure future pensions

but trying to do it in ten years is a hard hill to climb. Probably should have been spread over twenty. We agree here.

I do not agree with your reasoning that just because government doesn't pre-fund its a bad idea to do so. The government "wing and a prayer" method of assuming future revenues will be there is simply a bad way to go and ultimately leaves the employee in a risky position. Would much rather have the security of knowing the money is there when retirement comes. Regular disclosures lets us keep an eye on it also.

We are lucky, our former company funds our plan 100% a few times over the years we worked there, the employees and the union confronted management when we noticed underfunding. If your company offers a pension, great!!. But take the time and read over the plan and the yearly updates they give you. Get vocal if they are not keeping their obligations, don't just hope for the best. This is how the companies your point out can get away with raiding the cookie jar.

This all is minor considering the deeper problem that a declining number of folks use their service. We are a perfect example. 100% of our bills, banking, and letter writing is online and email. We maybe get a first class letter a few times a year, but tons of junk mail daily which goes directly into recycling and never make it into the house. The USPS needs to find a service that folks like us would actually use. Hate to say it, but if it went away tomorrow, I don't think we would notice.

Kilgore