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Retirees

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U.S. Post Office To End Saturday Letter Delivery This Summer

via Ron Nixon, The New York Times Faced with billions of dollars in losses, the Postal Service announced on Wednesday that it would seek to stop Saturday delivery of letters, a sweeping change in mail delivery that immediately drew criticism from postal unions, some businesses and lawmakers. The post office said a five-day mail delivery … Continue reading

What The Default Really Means For The U.S. Postal Service

via Devin Leonard, Businessweek The U.S. Postal Service essentially went broke yesterday. It skipped a $5.5 billion payment to the U.S. Treasury for future retiree health-care payments and said it would do the same early next month when another $5.6 billion is due. This comes as no surprise. The USPS has been losing $25 million … Continue reading

U.S. Postal Service Will Likely Default

via Sean Reilly, Federal Times, USA Today The cash-strapped U.S. Postal Service is within weeks of defaulting on a legally required $5.5 billion payment into a health benefits fund for future retirees. So far, it appears House leaders have no intention of preventing that from happening — they have postponed any action on relief measures … Continue reading

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