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USPS warns of default on retiree benefits

Without action from Congress, the U.S. Postal Service will default on its obligations to future retirees' health care accounts. Next up are payments to employees and vendors, the postmaster general told Congress Tuesday.

Tags: Congress , pay and benefits , management , USPS , FERS , CSRS , Tom Carper , Pat Donahoe , Susan Collins , Mark Strong , Jared Serbu

Wednesday - 05/18/2011, 07:41am EDT