H.R. 961: United States Postal Service Stabilization Act of 2013

113th Congress, 2013–2015. Text as of Mar 05, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

I

113th CONGRESS

1st Session

H. R. 961

IN THE HOUSE OF REPRESENTATIVES

March 5, 2013

introduced the following bill; which was referred to the Committee on Oversight and Government Reform

A BILL

To amend title 5, United States Code, to provide for the computation of normal-cost percentage for postal employees as a separate and distinct class, and to provide for the disposition of certain excess retirement contributions made by the United States Postal Service.

1.

Short title

This Act may be cited as the United States Postal Service Stabilization Act of 2013 .

2.

Separate normal-cost percentage

(a)

In general

Section 8423(a)(1) of title 5, United States Code, is amended—

(1)

in subparagraph (A)

(A)

by striking subparagraph (B)) and inserting subparagraph (B) or (C)); and

(B)

by striking and at the end;

(2)

in subparagraph (B), by striking the period and inserting ; and; and

(3)

by adding at the end the following:

(C)

the product of—

(i)

the normal-cost percentage, as determined for employees of the United States Postal Service (and the Postal Regulatory Commission), multiplied by

(ii)

the aggregate amount of basic pay payable by the United States Postal Service (and the Postal Regulatory Commission), for the period involved, to its employees.

.

(b)

Effective date

The amendments made by subsection (a) shall be carried out as soon as practicable, except that contributions shall be set in accordance with such amendments not later than the first applicable pay period beginning in the first fiscal year beginning at least 180 days after the date of the enactment of this Act.

3.

Disposition of certain excess contributions

(a)

In general

Section 8423(b) of title 5, United States Code, is amended by adding at the end the following:

(6)
(A)

If, for any fiscal year to which this paragraph applies, the amount determined under paragraph (1)(B) is less than zero (hereinafter in this paragraph referred to as excess postal contributions to FERS), such amount shall be treated in accordance with the following:

(i)

In the case of the first fiscal year to which this paragraph applies and for which excess postal contributions to FERS are determined, the amount of such excess contributions shall be transferred by the Secretary of the Treasury to such account as the Secretary considers appropriate so that such amount may be used for the payment of obligations issued by the United States Postal Service under section 2005 of title 39.

(ii)

In the case of any subsequent fiscal year to which this paragraph applies and for which excess postal contributions to FERS are determined, the amount of such excess contributions shall be transferred by the Secretary of the Treasury to the account to which are credited any Government contributions which are made by the United States Postal Service under section 8334(a)(1)(B) (or which would be made, but for clause (ii) thereof).

(B)

This paragraph applies to the fiscal year last ending before the date of the enactment of this paragraph and each fiscal year thereafter.

(C)

In the case of any transfer under subparagraph (A)(ii) for a fiscal year corresponding to a fiscal year for which a determination of Postal surplus or supplemental liability is scheduled to be made under section 8348(h), the transfer under subparagraph (A)(ii) shall be made before such determination under section 8348(h) is made.

.

(b)

Conforming amendment

Section 8348(h)(1)(B)(iii) of title 5, United States Code, is amended by striking principles. and inserting principles, including any amounts described in section 8423(b)(6)(A)(ii)..