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    Postal Service Holds Back on Closures

    Wed, 05/09/2012 - 12:02 EDT - NY Times
    • House Oversight and Government Reform Committee
    • Labor and Jobs
    • Postal Service (US)
    • Shutdowns (Institutional)

    The agency gives Congess more time to act and says it will offer early retirement incentives to tens of thousands of employees.

    • Original article
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      (Reuters) - The cash-strapped U.S. Postal Service will offer buyouts this summer to nearly all of its 45,000 mail handlers, part of a plan to consolidate operations at 140 mail-processing facilities in the next year. The mail agency, which lost $3.2 billion in the first three months of 2012, plans to begin this summer moving mail-processing activities away from smaller sites to reduce annual costs.

    • Postal cutbacks to delay 1st-class mail (AP)

    • At Least Mutual Fund Employees are Being Ripped off By Mutual Fund Companies Too

      It’s no secret that many Americans are struggling to save enough for their retirement. Once upon a time, it was common for employers to bear the responsibility for worker’s well being after retirement through defined-benefit pensions. Today, if a worker is lucky, he will have the opportunity to invest in a 401(k) plan, usually with his employer providing matching contributions up to a certain amount. It’s now the worker’s responsibility to make sure he puts away enough each month, and that the investments he chooses are a good value.

    • At Least Mutual Fund Employees are Being Ripped off By Mutual Fund Companies Too

      It’s no secret that many Americans are struggling to save enough for their retirement. Once upon a time, it was common for employers to bear the responsibility for worker’s well being after retirement through defined-benefit pensions. Today, if a worker is lucky, he will have the opportunity to invest in a 401(k) plan, usually with his employer providing matching contributions up to a certain amount. It’s now the worker’s responsibility to make sure he puts away enough each month, and that the investments he chooses are a good value.

    • One of the biggest threats to your retirement savings is hiding right under your nose — and it's not hard to fix

      Scott Gries/Getty Images • Half of Americans have no idea how much they pay in fees for their 401(k). A 2015 study found that in 16% of 401(k) plans, fees were so excessive they outweighed the tax benefits. • It can be difficult to figure out how much you're paying in fees, but there are tools available and red flags watch out for.

    • U.S. Postal Service pension funding

      The challenge of meeting pension payments is starting to put a huge burden on the San Diego and California budgets, leading many of us to regret that more voices weren't raised in objection at the time these commitments were quietly made years ago. For that reason, discussion this week of pensions for U.S. postal workers got my attention.

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