STRS asset value as of December 31, 2011
.......approx 80 Billion
.......approx 47 Billion
approx 14 Billion ABOVE LOW
A forum for Ohio educators, sharing thoughts regarding their health care and pension system (STRS Ohio). Researcher John Curry manages a clearinghouse of related e-mails, articles, announcements, etc. His daily mailings include many items that do not make it to this blog. Contact John (email@example.com) if you wish to be on his e-mail list. Kathie Bracy: firstname.lastname@example.org.
Under siege at ?the Postal ServiceThe U.S. Postal Service has issued a moratorium on post office plant closings and consolidations until May 15, as reported in the Beacon Journal (“Postal Service to delay cutbacks,” Dec. 14). This moratorium was issued at the request of approximately 20 senators across the nation. It is designed to give Congress more time to work on postal reform, but I am afraid they may not come up with a viable solution to keep the Postal Service running well into the future.The problem lies in the U.S. House. The House Oversight and Budget Committee, which oversees postal issues, is led by Rep. Darrell Issa of California, the same man who introduced the anti-union legislation H.R. 2309, which passed through the committee a few weeks back.Isssa is blocking any attempts to have H.R. 1351 brought before the House for a vote. H.R. 1351 would return all of the money the Postal Service has overpaid into its federal retirees health benefit plan (roughly $50 billion to $75 billion) and change current legislation that requires the Postal Service to make 75 years worth of payments into this plan in a 10-year period. This bill was signed into law by former President George W. Bush in 2006, as a way for Congress to get its hands on the earnings of the Postal Service at that time.Republican members of Congress such as Issa are attempting to pass postal reform that would not only guarantee that the Postal Service will never see any of its own money, but also lead to thousands of layoffs and the demise of the Postal Service. They want privatization, and a piece of the pie for themselves and their supporters.There are currently some decent bills in the House and Senate, such as the H.R. 1351, but you can be sure that the Republican and tea party members will not let the bills see the light of day. They don’t have the money the Postal Service overpaid. And they certainly do not want the people to know that the deficit is actually about $50 billion to $75 billion more than they are stating.Sherrod Brown is the only senator from Ohio trying to do the right thing to keep the Postal Service running and a valuable service. Sen. Rob Portman is doing absolutely nothing to support the Postal Service and the jobs that our communities need. Please contact your representatives and tell them enough is enough.Timothy J. Manning
Branch president, Local 304
National Postal Mail Handlers Union