USPS Pauses Retirement Contributions, Proposes Surcharge
Charleston West Virginia News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The United States Postal Service is temporarily pausing contributions to federal employee retirement annuities to maintain operations, prioritizing payroll, supplier payments, and mail delivery. This move, similar to one in 2011, aims to boost liquidity amid a severe financial crisis. Retirees wont be immediately affected, and the USPS will continue full Thrift Savings Plan matches and Social Security employer shares. Additionally, the USPS proposed an eight percent temporary surcharge on select products to cover fuel costs linked to the Iran situation.
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