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Postal Service to resume pension payments

from Federal Times

The U.S. Postal Service will pay more than $1 billion into the Federal Employees Retirement System in December and resume biweekly contributions into the pension program, which it had stopped paying earlier this year, USPS Chief Financial Officer Joseph Corbett said in a recent conference call with reporters. In June, the struggling mail carrier suspended those contributions — worth about $115 million every two weeks — on the grounds that it had a $7 billion surplus in FERS. That step was opposed by the Office of Personnel Management. more

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