USPS Hikes Stamp Price, Halts Pension Contributions to Shore Up Cash
TL;DR
The U.S. Postal Service will temporarily suspend employer contributions to federal retirement annuities to preserve cash while seeking regulatory approval for higher postage rates, including raising the First-Class Forever stamp from 78¢ to 82¢; regulators granted a temporary waiver to redirect funds for retiree benefits, as USPS warns of a cash shortfall by 2027, with retirees not affected immediately and Congress criticized for inaction on a longer-term fix.
- USPS to suspend pension contributions, seeks 4-cent stamp price hike Politico
- USPS suspends contributions to pension plan to delay running out of cash Federal News Network
- Cash-strapped US Postal Service suspends contributions to pension plan Reuters
- USPS begins cash conservation plan USPS
- USPS suspends contributions to employee pensions after warning of "cash crisis" CBS News
Want the full story? Read the original reporting
Read on Politico