Facing insolvency, and believing its pension fund to be massively overfunded, the USPS will...

|By:, SA News Editor

Facing insolvency, and believing its pension fund to be massively overfunded, the USPS will suspend employee retirement contributions for the remainder of 2011, saving $800M. The larger issue is a $5.5B health benefit payment due September 30, which the USPS will not be able to make.