Missed Payment For Postal Pensions Worries Mail Carriers
It's a day that many postal workers hoped would not come...
But on Wednesday, the Postal Service is expected to miss a payment toward retirement benefits...a payment of over five billion dollars. Gary Knutson of the La Crosse letter carriers union says Congress forced the post office into this situation six years ago, and Congress has not acted to correct the problem.
The Postal Service lost five billion dollars last year...and it warns that drastic service cuts might be required if the government insists on having future pensions paid in the present.