Quote:
Originally Posted by elysiantraveller
This has nothing to do with pensions. It has to do with how they are funded. They have to be funded up front.
In laymans if I am a pensioner bringing in $35k from the USPS they are required to maintain $2,625,000 in that fund for me at all times. No other business on the planet operates on that model but Congress required it for them.
Perhaps it's just their health fund... maybe both. Can't remember but point is they CAN'T offer those things they have to use this ridiculous model required by congress.
|
We are approaching the conversation from different directions. I'm saying the govt should get out of the pension business for that and other reasons. Period. Freeze all current pensions and go the route of 401k type vehicles. It would save us many billion over time.
