USPS begins cash conservation plan Temporarily suspends payments to Federal Employees Retirement System (FERS)

[WorldWatcher]

...whereas government employees have free healthcare,...

What government employees get free health care? (Outside military service members.)

WW

 

[Care4all]

https://news.usps.com/2026/04/09/usps-begins-cash-conservation-plan/

The Postal Service has informed the Office of Personnel Management (OPM) of its intention to temporarily suspend its employer’s contributions for the defined benefit portion of the Federal Employees Retirement System (FERS) to conserve cash and preserve liquidity due to its ongoing, severe financial crisis.

“There will not be any immediate detrimental impact to our current or future retirees if normal FERS cost payments are temporarily withheld,” said Postal Service Chief Financial Officer Luke Grossmann. “The risk to the Postal Service and the American public from insufficient liquidity for postal operations dramatically outweighs any longer-term risk to the pension funds from not making the currently due payments. We will continue to transmit to OPM employees’ contributions to FERS and will also continue to transmit employer automatic and matching contributions and employee contributions to the Thrift Savings Plan. It must be noted that our pension systems remain much better funded than other agencies.”

The Postal Service pays about $200 million every other week to OPM for the FERS annuity. Suspension of payments, effective April 10, will free about $2.5 billion in the current fiscal year.

And make their financial problems $2.5B worse next year.

ETA: As a reminder, the USPS is buying 66,000 electric vehicles at a program cost of $145,454 per unit.

The USPS is nothing but a bloated jobs program.

The son of a ***** past two post master generals, were put in there to DESTROY it, so the billionaires can get their wish of privatizing it.

And HECK NO, they should NOT stop first class mail and go to all packages. (Junk mail is different)

All package only is just another UPS or Fedx.... So they will not do what the constitution demanded, deliver our correspondence, our MAIL, not packages, MAIL.

 

[SaxonJackson]

https://news.usps.com/2026/04/09/usps-begins-cash-conservation-plan/

The Postal Service has informed the Office of Personnel Management (OPM) of its intention to temporarily suspend its employer’s contributions for the defined benefit portion of the Federal Employees Retirement System (FERS) to conserve cash and preserve liquidity due to its ongoing, severe financial crisis.

“There will not be any immediate detrimental impact to our current or future retirees if normal FERS cost payments are temporarily withheld,” said Postal Service Chief Financial Officer Luke Grossmann. “The risk to the Postal Service and the American public from insufficient liquidity for postal operations dramatically outweighs any longer-term risk to the pension funds from not making the currently due payments. We will continue to transmit to OPM employees’ contributions to FERS and will also continue to transmit employer automatic and matching contributions and employee contributions to the Thrift Savings Plan. It must be noted that our pension systems remain much better funded than other agencies.”

The Postal Service pays about $200 million every other week to OPM for the FERS annuity. Suspension of payments, effective April 10, will free about $2.5 billion in the current fiscal year.

And make their financial problems $2.5B worse next year.

ETA: As a reminder, the USPS is buying 66,000 electric vehicles at a program cost of $145,454 per unit.

The USPS is nothing but a bloated jobs program.

Trump's America!!

 

[JonKoch]

I live comfortably in retirement on my 401Ks provided by my private sector employers and my investments. Your response is typical knee jerk rubbish. Come back when you actually THINK about what I said. Or not, that works too.

Sure, there are exceptions to the rules, but the disappearing pensions in the private sector is related to trickle down (voodoo) of the past 50+ years. Anyone being honest knows this. But we need more "wealthy" people for the right to kneel too

 

[leftwinger]

???

I was just resting what symbols would pop up. Forgot to delete it in time.

 

[EdwinAMartin]

What government employees get free health care? (Outside military service members.)

WW

Some peddle the myth that MEdicare is free as well. It's bullshit. Whatever else one doesn't like or does like about the Feds and govt. agencies and workers, lying about stuff doesn't help.