WASHINGTON — The Postal Service sank deeper into debt Monday after the agency defaulted on a $5.6 billion payment due at the end of September, the second time the agency has missed a deadline this year to set aside money for its future-retiree health benefits.
The post office said it expected net operating losses to be $15 billion for the fiscal year that ended Sept. 30. That loss includes the two missed payments totaling $11.1 billion for the agency’s future-retiree funds. This month, the post office also faces a $1.5 billion workers’ compensation insurance payment to the Labor Department. The post office said Monday that it would most likely make that payment but that it would leave the agency with a cash shortage of about $100 million.
Postal Service officials said they expected the shipping of holiday packages and election mailings to help offset some of the losses.
Despite the losses, Postmaster General Patrick Donahoe said there would be no disruptions in post-office operations.
The post office had warned Congress for months that it would not be able to make the payments into the fund for its future-retiree health benefits. The payments are required by a 2006 law and do not affect current-retiree benefits.
Lawmakers left Washington last month without passing legislation that would have helped the post office deal with its debt and operating losses.
