US HB760 | 2017-2018 | 115th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Introduced on January 31 2017 - 25% progression, died in chamber
Action: 2017-03-16 - Ordered to be Reported (Amended) by Voice Vote.
Text: Latest bill text (Introduced) [PDF]

Summary

Postal Service Financial Improvement Act of 2017 This bill requires the Department of the Treasury to: (1) invest a specified percentage of the Postal Service Retiree Health Benefits Fund, using one or more qualified professional asset managers, in index funds modeled after those established for Thrift Savings Fund investments; and (2) ensure that the investment replicates the performance of the longest-term target date asset allocation investment fund established by the Federal Retirement Thrift Investment Board. The bill establishes the Postal Service Retiree Health Benefits Fund Investment Committee, which Treasury shall consult regarding such investments. The "specified percentage" to be invested is defined as 25% of the currently available portions of the fund as are not immediately required for payments from the fund, except that the committee may specify a higher percentage, not to exceed 30%, not earlier than five years after this bill's enactment and as appropriate thereafter. Treasury shall annually engage an independent qualified public accountant to audit the financial statements of such investments and shall submit an annual management report that includes: statements of financial position, operations, and cash flows; a statement on internal accounting and administrative control systems; the report resulting from the audit; and any other comments and information necessary to inform Congress about the operations and financial condition of the investments.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Postal Service Financial Improvement Act of 2017

Sponsors


History

DateChamberAction
2017-03-16HouseOrdered to be Reported (Amended) by Voice Vote.
2017-03-16HouseCommittee Consideration and Mark-up Session Held.
2017-01-31HouseReferred to the House Committee on Oversight and Government Reform.
2017-01-31HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

feedback