- The U.S. Postal Service is set to increase the cost of postage again and will temporarily suspend pension contributions as it grapples with a "severe financial crisis.”
- Officials have warned that the USPS is projected to run out of cash by around February 2027 if current trends continue.
- The USPS filed notice to increase postage rates, including raising the price of a First-Class Mail Forever stamp from 78 cents to 82 cents, pending regulatory approval. Post cards and international letters will also be affected.
- The agency said temporarily suspending its employer contributions to Federal Employees Retirement System annuities will allow it to keep making payroll, paying suppliers and delivering the mail.
- Despite the suspension of employer contributions, effective Friday, current and future retirees will not be immediately impacted, Postal Service Chief Financial Officer Luke Grossmann said.
IN FULL
USPS announces another cut and stamp price increase amid funding crisis
