Postal Service Frees Up Enough Cash to Keep Operating for ‘Several Years’

Article excerpt

The U.S. Postal Service has bought itself breathing room by suspending payments to its retirement fund, purchasing several years of operational runway after previously warning it could collapse within months. The agency's regulators approved the maneuver, giving postal officials time to pursue a longer-term fix to the agency's chronic financial crisis. The move sidesteps an immediate cash crunch but leaves the deeper structural problems, including the agency's unique obligation to pre-fund retiree health benefits, unresolved.