Postal Civil Service Retirement System Funding Reform Act of 2003

Summary

Postal Civil Service Retirement System Funding Reform Act of 2003 - Amends Federal law to revise the statutory formula for funding benefits under the Civil Service Retirement System for U.S. Postal Service employees. Mandates that savings accruing to the Postal Service and attributable to specified years: (1) be used to reduce the postal debt as the Secretary of the Treasury shall specify; and (2) be held in escrow until Congress acts following receipt of certain reports. Expresses the sense of the Congress that: (1) the savings accruing to the Postal Service as a result of the enactment of this Act will be sufficient to allow the Postal Service to fulfill its commitment to hold postage rates unchanged until at least 2006; (2) because the Postal Service still faces substantial obligations related to postretirement health benefits for its current and former employees, some portion of those savings should be used to address the unfunded obligations; and (3) none of the savings should be used to pay bonuses to Postal Service executives. Sets a deadline for submission of a mandatory Postal Service report detailing how future savings accruing to the Postal Service as a result of the enactment of this Act should be expended.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 27 March 2003

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• Reported in House (PDF)

  Reported in House · EN · 27 March 2003

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• Reported to House with amendment(s)

  summary · EN · 27 March 2003

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• Introduced in House (text)

  Introduced in House · EN · 12 February 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 12 February 2003

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• Introduced in House

  summary · EN · 12 February 2003

  Open at official source

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