Slow Delivery - Funny (Page 3): I recently read information from a postal employee that USPS does NOT receive any support from government funding, it is totally supported by the fees...

PhotogHobbyist Loc: Bradford, PA

rehess wrote:

Mr Trump has already stated he will oppose more federal funding for USPS - which they badly need since they are close to bankruptcy - unless they get more money from Amazon packages.

I recently read information from a postal employee that USPS does NOT receive any support from government funding, it is totally supported by the fees and charges for mail and packages. There reportedly is no money from taxation by the IRS.

hookedupin2005 Loc: Northwestern New Mexico

I ordered a camera from Ebay two weeks ago, with a 5-6 day delivery guarantee(USPS). I recieved it in 4 days. Ordered some accessories, and got them in 4 days.(USPS). Waiting on 1 more package, due Monday, the 11th. No complaints here(so far).

StanMac Loc: Tennessee

PhotogHobbyist wrote:

I recently read information from a postal employee that USPS does NOT receive any support from government funding, it is totally supported by the fees and charges for mail and packages. There reportedly is no money from taxation by the IRS.

That is my understanding as well. Read this for the story on how Congress has set up the USPS for failure:

https://www.bloomberg.com/opinion/articles/2018-04-04/congress-not-amazon-messed-up-the-u-s-postal-service

Stan

Redmond Loc: Oregon

there seems to be an effort to destroy the post office. Gonna be interesting to see how this plays out...

JFCoupe Loc: Kent, Washington

From reading various articles, I suspect one of the major political parties would like to see the USPS go out of business so it can later be privatized. Congress passed a law requiring USPS to prefund all future pension liabilities. No other business in the US has this requirement. It is an estimated $70 Billion issue. I suspect if this were off the table, the USPS would be doing okay on an operations level.

Congress has done everything to make sure it is not a level playing field for the USPS.

rehess Loc: South Bend, Indiana, USA

JFCoupe wrote:

From reading various articles, I suspect one of th... (show quote)

Normal companies have long been required to provide adequate funding for their pensions as protection for their employees.

PhotogHobbyist Loc: Bradford, PA

rehess wrote:

Normal companies have long been required to provide adequate funding for their pensions as protection for their employees.

How many are required to have those funds for the next 36 years at an estimated 5 Billion dollars per year? That is only $180,000,000,000. Apparently that is walking around money for some people.

rehess Loc: South Bend, Indiana, USA

PhotogHobbyist wrote:

How many are required to have those funds for the next 36 years at an estimated 5 Billion dollars per year? That is only $180,000,000,000. Apparently that is walking around money for some people.

I don’t know how this is figured. I worked only six years for a defense contractor, and in addition to all the 401K stuff, they will need to pay me $150 a month. I would need to live to over 100 by that standard, but they do need some kind of ‘reserve’ by law to protect me.

Jerry Coupe Loc: Kent, WA

rehess wrote:

Normal companies have long been required to provide adequate funding for their pensions as protection for their employees.

The difference in this case is that the USPS has been required to fund all future pensions, not just ones accrued to date. Therefore, USPS is being required to fund pensions for people that are not even hired yet and won't be for years into the future.

And today many companies do not fully fund pensions, but if they do not, then they must disclose the unfunded liabilities on the balance sheet. This is significantly less onerous that the USPS imposed requirements.

PhotogHobbyist Loc: Bradford, PA

rehess wrote:

I don’t know how this is figured. I worked only six years for a defense contractor, and in addition to all the 401K stuff, they will need to pay me $150 a month. I would need to live to over 100 by that standard, but they do need some kind of ‘reserve’ by law to protect me.

A 401k is an account set up to be an annuity with disbursements calculated on the amount deposited to it. It is not a retirement fund based on the number of years worked. Also six years as a defense contractor usually is not sufficient time worked to provide a retirement payment. Most government employees must work for a defined number of years to qualify for "retirement" or to a certain age with a minimum number of years worked. Think military, 20 years minimum. Or as I did, Federal Prisons, age 50 with 20 years or minimum 20 years at any age, and mandatory at age 57.

rehess Loc: South Bend, Indiana, USA

PhotogHobbyist wrote:

A 401k is an account set up to be an annuity with ... (show quote)

That what I thought - but when I reached age 70, this particular company started sending me $150 the first of each month. Not a tremendous amount, but more than nothing, which is what I thought I had earned. It turns out that this particular plant has a program that I qualify for, and I won't refuse $$$.

PhotogHobbyist Loc: Bradford, PA

rehess wrote:

That what I thought - but when I reached age 70, this particular company started sending me $150 the first of each month. Not a tremendous amount, but more than nothing, which is what I thought I had earned. It turns out that this particular plant has a program that I qualify for, and I won't refuse $$$.

PhotogHobbyist Loc: Bradford, PA

rehess wrote:

That what I thought - but when I reached age 70, this particular company started sending me $150 the first of each month. Not a tremendous amount, but more than nothing, which is what I thought I had earned. It turns out that this particular plant has a program that I qualify for, and I won't refuse $$$.

At age 70, IRAs and annuities are required by law to begin providing a monthly disbursement to the owner of the account. The monthly amount depends on the amount in the account and life expectancy predictions.

rehess Loc: South Bend, Indiana, USA

PhotogHobbyist wrote:

At age 70, IRAs and annuities are required by law to begin providing a monthly disbursement to the owner of the account. The monthly amount depends on the amount in the account and life expectancy predictions.

Yes, except that with my birthday being in December, I was able to take first two distributions in the next year for tax reasons.

Bill_de Loc: US

oregon don wrote:

Strange, yesterday I saw a truck with AMAZON on it delivering pkgs.

Amazon vans are seen around here all the time. Sometimes I get more than one delivery a day from an Amazon van. Before this virus thing, Amazon was starting to compete with UPS in a few cities, delivering products from other companies.

Amazon already owns 20,000 Mercedes-Benz Sprinter vans for deliveries. However, these vans aren't big enough for Amazon's ever-growing volume of packages that it ships. The new vans Amazon purchased from Spartan are larger than those in its Mercedes fleet

https://www.businessinsider.com/amazon-van-order-worry-usps-ups-2019-7

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