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Retirees

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

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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

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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

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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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