Postal Service Retiree Health Benefits Funding Reform Act of 2009

Bill: 111-s-1507
Sponsor: Sen. Carper, Thomas R. [D-DE]
Introduced: 2009-07-23 in the Senate
Policy area: Government Operations and Politics
Subjects: Government employee pay, benefits, personnel management
Government lending and loan guarantees
Health care costs and insurance
Postal service

Summary:
action_date: 2009-07-23
text: 
Postal Service Retiree Health Benefits Funding Reform Act of 2009 - Requires government contributions for health benefits for United States Postal Service annuitants to be paid first from the Postal Service Retiree Health Benefits Fund up to the amount contained in the Fund, with any remaining amount paid by the Postal Service. (Current law requires such contributions to be paid by the Postal Service through September 30, 2016.)
 
Extends: (1) the deadline for computing required payments for liquidating any Fund liability or surplus; and (2) the target date for such liquidation. Modifies provisions governing required Postal Service payments into the Fund, including by requiring payments by September 30 of each year through 2019 of specified amounts and of the net present value of the future payments required and attributable to the service of Postal Service employees during the most recently ended fiscal year.
 
 Increases the Postal Service's borrowing authority for FY2009 and FY2010. Requires any amount borrowed under that increased authority to be repaid by the Postal Service by the end of FY2019.
 
Makes this Act retroactive to October 1, 2008.

action_date: 2010-06-09
text: 
Postal Service Retiree Health Benefits Funding Reform Act of 2009 - Requires government contributions for health benefits for United States Postal Service (USPS) annuitants to be paid first from the Postal Service Retiree Health Benefits Fund up to the amount contained in the Fund, with any remaining amount paid by USPS. (Current law requires such contributions to be paid by USPS through September 30, 2016.)
 
Extends: (1) the deadline for computing required payments for liquidating any Fund liability or surplus; and (2) the target date for such liquidation. Modifies provisions governing required USPS payments into the Fund, including by requiring payments by September 30 of each year through 2019 of specified amounts and of the net present value of the future payments required and attributable to the service of USPS employees during the most recently ended fiscal year.
 
 Increases the USPS's borrowing authority for FY2009 and FY2010. Requires any amount borrowed under that increased authority to be repaid by USPS by the end of FY2019. Limits the USPS's total outstanding debt to its maximum amount of aggregate obligations allowable under current law.
 
Makes such provisions effective as of October 1, 2008.
 
Requires an arbitration board established to resolve a labor dispute to consider the financial condition of USPS in making any decision.
 
Amends the Postal Accountability and Enhancement Act to require the Comptroller General to prepare and submit to the President and Congress by March 31, 2010, a report that evaluates the options and strategies for the long-term structural and operational reforms of USPS necessary to achieve financial stability and long-term fiscal viability.
 
Prohibits any bonus to any USPS officer or employee in a senior executive or equivalent position from being paid: (1) until October 1 following the date such bonus would have otherwise been paid; or (2) at all if USPS had a year-end net loss for the fiscal year preceding that October 1.


Legislative actions:
action_date: 2010-06-09
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 424.
action_date: 2010-06-09
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Lieberman with amendments. With written report No. 111-203. Additional views filed.
action_date: 2010-06-09
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Lieberman with amendments. With written report No. 111-203. Additional views filed.
action_date: 2009-07-30
text: Committee on Homeland Security and Governmental Affairs. Ordered to be reported with amendments favorably.
action_date: 2009-07-23
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
action_date: 2009-07-23
text: Introduced in Senate