Postal Service Financial Improvement Act of 2017

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.

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Timeline

1. 31 January 2017

   Introduced

   Referred to the House Committee on Oversight and Government Reform.

   Source: IntroReferral

2. 31 January 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 January 2017

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 March 2017

   Reported

   Ordered to be Reported (Amended) by Voice Vote.

   Source: Committee

5. 16 March 2017

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 31 January 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 January 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 31 January 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 31 January 2017

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Lynch, Stephen F. [D-MA-8] · D · Sponsor
• Rep. McKinley, David B. [R-WV-1] · R · Sponsor
• Rep. Langevin, James R. [D-RI-2] · D · Cosponsor
• Rep. Thompson, Glenn [R-PA-15] · R · Cosponsor
• Rep. Green, Gene [D-TX-29] · D · Cosponsor
• Rep. Cohen, Steve [D-TN-9] · D · Cosponsor
• Rep. Jackson Lee, Sheila [D-TX-18] · D · Cosponsor
• · hsgo00 · Standing

Related records

• related to → Postal Service Financial Improvement Act of 2019
• related to ← Postal Service Financial Improvement Act of 2016