USPS Retirement Liabilities Surge: $103.6B Unfunded, Retiree Health Fund Depletion by 2032; Q3 Loss $2.5B, Cash Crunch Early 2027

USPS OIG report confirms $103.6B unfunded CSRS/FERS liabilities, employer FERS freeze since April 2026, and retiree health fund depletion by 2032—$6B annual cost shift. USPS Q3 FY2026 report shows retirement benefits up $324M and retiree health benefits up $195M, confirming cost growth trend. New: USPS Q3 loss $2.5B, cash runs out early 2027, stamp hike to 95¢, pension contributions suspended. $15B borrowing cap from 1990 is a ticking clock. This off-book federal liability creates a clear 2032 crunch window, directly impacting taxpayers and retirees. Raises question of whether Congress will force repayment or socialize the loss.