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USPS people & service vs PROFIT-taking behemoths
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He delivers where Amazon and FedEx won't: USPS worker covers 'the last mile' to rural America

For 30 years, Michael Miller has delivered mail on the same rural route in southern Ohio’s Gallia County.

It’s 51 miles of country roads, gravel driveways and one-lane cow paths. It’s hot in the summer and cold in the winter, and it’s always loud as he rumbles around in his mail truck, a hand-me-down from a retired city fleet that he got five years ago.

And yet, every morning at 7:30 sharp, Miller is at the Gallipolis Post Office sorting parcels for delivery. He sports a navy blue shirt that reads “Postal Workers Deliver For You.”

“When I go out and someone asks what I do, I’m proud to say I work for the Postal Service,” said Miller, 56, of Gallia County. “Somebody always knows someone who works at the post office.”

Neighbors have come and gone, but not much has changed on Miller’s route during the past three decades.

Restructuring and other possible changes at the Postal Service, however, could severely affect rural carriers such as Miller and the millions of rural residents they serve.
 
Posts: 25914 | Location: VA | Mbr Since: 11-08-2005Reply With QuoteReport This Post
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If Congress hadn’t require the prepaid pensions, they wouldn’t be in as big of a mess!
 
Posts: 10910 | Location: Central PA | Mbr Since: 05-14-2017Reply With QuoteReport This Post
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...and that's the name of that tune!

How many behemoth corporations provide pre-paid pensions. How many have filed bankruptcy and left 10s of 1000s of employees without a job and with their pensions evaporated into nothingness. And how many of those provide completely unneeded crap; whereas the USPS keeps America going!
 
 
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I know that there is an insurance paid, iirc, so that the guaranteed benefits/pensions when a company went bankrupt.

Most companies pay into a program often not enough, I’m good with the increase so the projections are better but not sure why 100% would be required and only apply to one delta.
 
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Originally posted by Reed N D Dark:
I know that there is an insurance paid, iirc, so that the guaranteed benefits/pensions when a company went bankrupt.

Most companies pay into a program often not enough, I’m good with the increase so the projections are better but not sure why 100% would be required and only apply to one delta.
Given the current state of the economy, I simply DO NOT "trust" insurers. Then too, the PAST has shown us what can happen:
quote:
What Happens To My Pension If The Company Goes Bankrupt?

Given the downward spiral that GE has been in over the past year, we have received the same question over and over again from a number of GE employees and retirees: “If GE goes bankrupt, what happens to my pension?” While it’s anyone’s guess what the future holds for GE, this is an important question that any employee with a pension should know the answer to. While some employees are aware of the PBGC (Pension Benefit Guarantee Corporation) which is an organization that exists to step in and provide pension benefits to employees if the employer becomes insolvent, very few are aware that the PBGC itself may face insolvency within the next ten years. So if the company can’t make the pension payments and the PBGC is out of money, are employees left out in the cold?

We have seen instances where a company files for bankruptcy and the total dollar amount owed to the pension plan is larger than the total assets of the company. When this happens, the bankruptcy courts may allow the company to terminate the plan and the PBGC is then forced to step in and continue the pension payments to the employees. While this seems like a great system since up until now that system has worked as an effective safety net for these failed pension plans, the PBGC in its most recent annual report is waiving a red flag that it faces insolvency [[[circa November 2019]]] if Congress does not make changes to the laws that govern the premium payments to the PBGC.

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...and who can forget this:
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As an aside:

My friend who just retired from Newport News Shipbuilding TOOK his entire 401k in a lump sum payment (less penalties & taxes of course)... because of the way the market is fluctuating, he feels much better having that money in a CD. Shrug   :shrug:

YMMV
 
 
Posts: 25914 | Location: VA | Mbr Since: 11-08-2005Reply With QuoteReport This Post
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Posts: 25914 | Location: VA | Mbr Since: 11-08-2005Reply With QuoteReport This Post
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OMG

I remember when Express Scripts change vendor for mail. They had to reshape my meds! If they showed up it was three weeks later .. within 3 months they had gone back to USPS!


They were mostly shipped in boxes, iirc. So based on what I’ve heard they should be handled first now.

Amazon is no longer 2 days either. I’ve started opting for the digit $ back so I can buy books! That way I get paid for the late deliveries!
 
Posts: 10910 | Location: Central PA | Mbr Since: 05-14-2017Reply With QuoteReport This Post
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