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The USPS has said it will suspend contributions to the Federal Employees Retirement System due to its "severe financial crisis."

The U.S. Postal Service ​said Thursday it will ‌temporarily suspend employer payments for a ​federal pension program ​to conserve cash amid ⁠a severe financial ​crisis.

Suspending FERS payments, effective April 10, will free up about $2.5 billion in the current fiscal year, according to USPS.

The U.S. Postal Service is temporarily suspending its employer contributions to Federal Employees Retirement System annuities

The U.S. Postal Service says it will temporarily suspend its employer contributions to Federal Employees Retirement System annuities to “conserve cash” and continue making payroll, paying suppliers and delivering the mail during the