USPS Suspends Payments to Retirement System
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WASHINGTON, DC—The U.S. Postal Service (USPS) has informed the Office of Personnel Management (OPM) of its intention to suspend its employer’s contributions for the defined benefit portion of the Federal Employees Retirement System (FERS) to conserve cash and preserve liquidity. The Postal Service estimates it has a FERS account surplus valued at $6.9 billion.
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