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USPS Suspends FERS Payments to Conserve Cash Amid Financial Crisis

USPS Suspends FERS Payments to Conserve Cash Amid Financial Crisis

The United States Postal Service (USPS) has announced a temporary suspension of its employer contributions to the Federal Employees Retirement System (FERS) as part of a cash conservation strategy. This decision is aimed at preserving liquidity in response to the USPS's ongoing severe financial challenges. According to USPS Chief Financial Officer Luke Grossmann, the suspension of payments, which will take effect on April 10, is expected to free up approximately $2.5 billion in the current fiscal year. Grossmann assured that there would be no immediate detrimental impact on current or future retirees due to the temporary withholding of normal FERS cost payments. The USPS will continue to transmit employee contributions to FERS, as well as employer automatic and matching contributions and employee contributions to the Thrift Savings Plan. The USPS's pension systems are reportedly better funded than those of other agencies, mitigating longer-term risks associated with the suspension.
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US Postal Service to suspend employer payments to workers' pensions, citing cash crunch

US Postal Service to suspend employer payments to workers' pensions, citing cash crunch

The U.S. Postal Service is temporarily suspending its employer contributions to Federal Employees Retirement System annuities
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USPS Halts Pension Payments to Conserve Cash Amid Financial Crisis

USPS Halts Pension Payments to Conserve Cash Amid Financial Crisis

The U.S. Postal Service (USPS) has temporarily stopped its contributions to workers' retirement plans due to ongoing financial difficulties. This decision, made by the Postal Service Board of Governors, aims to conserve cash and maintain liquidity. The USPS typically pays about $200 million bi-weekly to the Federal Employees Retirement System, and the suspension will free up approximately $2.5 billion in the current fiscal year. Despite this measure, employee contributions to retirement plans and other obligations like Social Security payments will continue. The USPS has reported significant financial losses, with a net loss of $118 billion since 2007.
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USPS to suspend pension contributions, seeks 4-cent stamp price hike

USPS to suspend pension contributions, seeks 4-cent stamp price hike

The U.S. Postal Service has decided to temporarily suspend its contributions to Federal Employees Retirement System annuities
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USPS Suspends Pension Contributions Amid Financial Crisis, Proposes Stamp Price Increase

USPS Suspends Pension Contributions Amid Financial Crisis, Proposes Stamp Price Increase

The U.S. Postal Service (USPS) has announced a temporary suspension of its employer contributions to the Federal Employees Retirement System annuities. This decision is part of efforts to conserve cash and maintain liquidity during a severe financial crisis. The USPS reported a net loss of $9 billion for the fiscal year 2025 and anticipates running out of cash by February 2027 without legislative intervention. To address rising operational costs, the USPS has proposed increasing the price of First-Class Mail Forever stamps from 78 cents to 82 cents, pending regulatory approval. Despite the suspension, current and future retirees are assured of no immediate impact on their benefits.
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Cash-strapped US Postal Service suspends contributions to pension plan

Cash-strapped US Postal Service suspends contributions to pension plan

By David Shepardson WASHINGTON, April 9 (Reuters) - The U.S. Postal Service said Thursday it will temporarily suspend employer payments for a federal pension program to conserve cash amid a severe financial crisis.
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USPS Suspends Pension Contributions Amid Looming Liquidity Crisis

USPS Suspends Pension Contributions Amid Looming Liquidity Crisis

The United States Postal Service (USPS) has announced a temporary suspension of contributions to the Federal Employees Retirement System pension plan. This decision is part of an effort to address a 'pending liquidity crisis' that could see the postal service run out of cash by February 2027. USPS Chief Financial Officer Luke Grossmann stated that the suspension would not immediately affect current employees or retirees. The move is expected to save USPS $2.5 billion in the current fiscal year, as the agency seeks to manage its financial challenges, which include a $9 billion loss in the last fiscal year.
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USPS Proposes Stamp Price Hike Amid Severe Financial Crisis

USPS Proposes Stamp Price Hike Amid Severe Financial Crisis

The U.S. Postal Service (USPS) has proposed increasing the price of First-Class Mail Forever stamps from 78 cents to 82 cents, effective July 12, pending regulatory approval. This proposal is part of a broader strategy to address a severe financial crisis exacerbated by declining mail volumes and rising operational costs. The USPS has also announced a temporary suspension of employer contributions to the Federal Employees Retirement System annuities to maintain liquidity. The agency is using all available tools to fulfill its universal service obligation while facing the possibility of running out of cash by February 2027.
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US Postal Service seeks to hike stamp prices to 82 cents

US Postal Service seeks to hike stamp prices to 82 cents

By David Shepardson WASHINGTON, April 9 (Reuters) - The cash-strapped U.S. Postal Service said on Thursday it wants to raise the price of first-class mail stamps to 82 cents from 78 cents effective July 12.
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President Trump Proposes $1.5 Trillion Defense Budget for 2027 Fiscal Year

President Trump Proposes $1.5 Trillion Defense Budget for 2027 Fiscal Year

President Trump has proposed a $1.5 trillion defense budget for the 2027 fiscal year, marking a significant increase in military spending. This budget request, submitted to Congress, aims to enhance various sectors of the military, including aircraft, munitions, missile defense, and shipbuilding. The proposal reflects the administration's focus on strengthening national security and military capabilities. The budget request is part of a broader strategy to ensure the U.S. military remains competitive and prepared to address global threats.
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IMF's Georgieva says finalizing quota review would ensure 'scary' lending firepower

IMF's Georgieva says finalizing quota review would ensure 'scary' lending firepower

By David Lawder and Andrea Shalal WASHINGTON, April 9 (Reuters) - The International Monetary Fund needs to complete the 16th quota review approved in 2023 to ensure that it has "scary" financial firepower to fight any crisis, IMF Managing Director Kristalina Georgieva said on Thursday.
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Amazon and USPS Secure Billion-Package Delivery Agreement

Amazon and USPS Secure Billion-Package Delivery Agreement

Amazon and USPS Secure Billion-Package Delivery Agreement