My understanding is, unlike any other government agency or business, the USPS is...

diebeforei485 · on April 20, 2020

Businesses are required to fund their pension obligations.

In any case USPS hasn't actually fully funded their pensions since the recession.

jdxcode · on April 20, 2020

They’re required to PRE-fund the pensions which private businesses are not required to do

diebeforei485 · on April 20, 2020

Of course private businesses are required to pre-fund their pensions (with some exceptions like religious organizations).

It's a requirement under the Employee Retirement Income Security Act of 1974.

Lots more info here: https://www.forbes.com/sites/ebauer/2020/04/14/post-office-p...

0xy · on April 20, 2020

I totally agree with you, but why is it a problem right now? Parcel volumes are at dizzying heights.

SteveJS · on April 20, 2020

According to the article revenue from advertising (junk mail) is down 40% while local businesses are mostly closed.

Exmoor · on April 20, 2020

This is an anecdote not data, but I've heard several USPS delivery folks mention that a lot of long-tenured drivers decided to take vacation and sick time when the lockdown started ramping up. This has caused other drivers to pick up the slack so there may be a lot of overtime getting paid out.

0xy · on April 20, 2020

This doesn't wash. If advertising is down 40% and parcel services are up 150%, that's a substantial revenue increase overall.

https://about.usps.com/who-we-are/financials/annual-reports/...

I can't get the numbers to add up here. Even with letters down, advertising down then their revenue should either be flat or have a slight increase based on my guesstimate for their increase in parcel business.