As you might have heard, the Post Office will be ending Saturday delivery in August. A long time ago, I heard Congress had forced the Post Office to pay 75% into their Pension Plan. Here’s the quote from a recent post + the link to the story:
"The USPS pension system is no more bloated than any other organization. But back in 2005, Congress passed a law forcing them to PREPAY 75% of their pensions for 10 years into the future! Do you know of any other corporation that survives under conditions like that?
Then there is the point of overpayments already made to Congress. "Because of the way the law is written, the Postal Service must make more than $8 billion per year in pension and retiree health benefit payments, despite pension overpayments of up to $75 billion."
We will talk about this and the School Levy, also looking at Inslee”s first month in office. Join us for a very lively discussion.
David Krafchick, Organizer
Seattle Democratic Party Meetup