In the face of financial insolvency, the Postal Service on June 24 will halt employer contributions to the FERS defined benefit plan, which the agency estimates will free up $800 million in cash this fiscal year. USPS lost $2.6 billion in the first half of fiscal 2011 and expects to be down $8 billion by the end of the year.
Postal employees still will be able to contribute to FERS, officials said.
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