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Yes, I know what the text of the bill states, which is why I referenced it in earlier comments. More importantly, you yourself have posted the relevant language. The "acturial present value" part of the quoted phrase is what must comport with generally accepted actuarial practices. The problem is that "all future benefits payable" is by its express language not limited to vested benefits. You need to read the entire code section, not just little snippets.



I'm very much enjoying this discussion and I hope you guys can find a definitive statement about what the bill entails. (I find the language you have both quoted from the bill to be too vague to my uncertified ear to make a decision.)

Is your claim that the postal service must pre-fund unvested benefits at the day the employee is hired? That is, is that how you think "future benefits payable" is being interpretted? Because what's definitely not true is that the postal service is being required to fund un-hired (or unborn) employees. See this article, which has quotes from the Congressional Research Service.

http://www.cnbc.com/id/45018432




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