USPS Continues Cash Conservation Initiatives
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WASHINGTON, DC—As a follow-up to the suspension of biweekly payments of its contribution to the Federal Employee Retirement System (FERS) in light of its fiscal crisis, the U.S. Postal Service is moving forward with two new cash conservation initiatives that took effect July 1. They are the suspension of discretionary awards for FY 2011 and the freezing of Postal Service officer and executive compensation as it relates to the Postal Service’s pay-for-performance program.
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