The United States Postal Service (USPS) has announced a temporary suspension of employer contributions to its federal pension program in an effort to manage a severe liquidity crisis. The agency informed the White House Office of Personnel Management that it will halt bi-weekly payments of $200 million into the Federal Employees Retirement System (FERS) starting this Friday.
US Postal Service suspends pension payments to save cash
The US Postal Service will stop $200 million biweekly pension payments starting Friday. The agency warned it may run out of cash by February without reforms.
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