The United States Postal Service owed to retiree ... - Financial Post

BEIJING, Aug. 3, according to the the United States media reported on the 2nd, the U.S. Federal General Post Office (USPS) is default in payment, he could not pay the $ 5.5 billion should be stored according to the law of retired employees health insurance benefits funds . Financial Analyst, General Post Office payment default may be steps towards a declaration of bankruptcy.

United States Postal Service said that the arrears of the retired employee medical insurance payment from the Fund, does not affect mail delivery does not affect the payment of post office employees and suppliers deserve, as well as retirees benefits. U.S. members of Congress talk more than a year, said that to rectify the financial difficulties of the General Post Office, to avoid payment defaults, but has so far failed to take concrete measures. Senator quickly to spearhead Republican Congressman, accused the Post Office ?neglecting? the recess a month ago, is still by rectifying the post office bill. United States Postal Service, said the company?s available cash is low to the level of risk before midnight on the 1st can not pay the $ 5.5 billion payable by retired employees health insurance benefits fund, payable in September, another sum of $ 5.6 billion fund The models may also be in arrears. The postal officials said they also study the need to delay other payment obligations. The next few months, the Postal Service needs $ 1.5 billion to the federal Department of Labor employees compensation payment (currently expected to pay), but also to the Ministry of Finance to pay millions of dollars in interest. email widespread use, a substantial reduction by post, plus the cost of management increased the operation of the General Post Office is increasingly difficult. Financial analysts said that the arrears payment may represent the United States Post Office is moving towards a declaration of bankruptcy.

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Source: http://www.financial-post.com/the-united-states-postal-service-owed-to-retiree-benefits-analysts-said-the-brink-of-bankruptcy.html

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