Postal Service Set to Default on Billions in Health Payments – NYTimes.com

The Postal Service, faced with continuing financial losses because of a drop in mail volume, expects to default for the first time on its annual payment for future retiree health benefits.

The $5.5 billion payment, which was deferred from the 2011 fiscal year, is due Aug. 1.

via Postal Service Set to Default on Billions in Health Payments – NYTimes.com.

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