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Jan 04

U.S. Postal Service has unfunded pension liabilities of almost $50 billion

The U.S. Postal Service loses $5 to $7 billion annually. It pays its workers too much; and thousands of people apply for every opening.

Managers of the pension program for the USPS’s millionaire retirees have not been contributing much to the pension fund over the past 20 years, due to the horrendous fiscal condition of the “Service.” See here.