Really? Thought they were paid like my local union employees.
A cop starting out in San Jose has a base salary and the tax payer contributes 100%. Or $38k + per year towand their retirement. same with fire fighters, librarians earning $200k in base salary and IT guys earning $80k base per year.
Si it’s completely different fir USPS?
Ultimately postal retirees are paid an annuity by Office of Personnel Management (a us gub'mnt agency) but the employees and the USPS have paid funds into that system. This is done on an actuarially sound basis ~ no expectation of 8% returns like those police department local retirements assume ~
There's a HUGE fund that's built up from postal contributions ~ it's worth hundreds of billions of dollars. The US gub'mnt has borrowed it ~ to get around the debt limit!
Postal employees and retirees are currently subsidizing the US Government ~