Sec. 103. Restructuring of payments for retiree health benefits
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/bill/113/s/1486/is/section-103·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 8906(g)(2)(A) of title 5, United States Code, is amended by striking through September 30, 2016, be paid by the United States Postal Service, and thereafter shall and inserting after the date of enactment of the . Postal Reform Act of 2013 Section 8909a of title 5, United States Code, is amended— in subsection (d)— by striking paragraph
(2)and inserting the following: Not later than June 30, 2016, the Office shall compute, and by June 30 of each succeeding year, the Office shall recompute, a schedule including a series of annual installments which provide for the liquidation of the amount described under subparagraph
(B)(regardless of whether the amount is a liability or surplus) by September 30, 2052, or within 15 years, whichever is later, including interest at the rate used in the computations under this subsection. The amount described in this subparagraph is the amount, as of the date on which the applicable computation or recomputation under subparagraph
(A)is made, that is equal to the difference between— 80 percent of the Postal Service actuarial liability as of September 30 of the most recently ended fiscal year; and the value of the assets of the Postal Retiree Health Benefits Fund as of September 30 of the most recently ended fiscal year. ; in paragraph (3)— in subparagraph (A)— in clause (iii), by adding and at the end; in clause (iv), by striking the semicolon at the end and inserting a period; and by striking clauses
(v)through (x); and in subparagraph (B), by striking 2017 and inserting 2016 ; by amending paragraph
(4)to read as follows: Computations under this subsection shall be based on— economic and actuarial methods and assumptions consistent with the methods and assumptions used in determining the Postal surplus or supplemental liability under section 8348(h); and any other methods and assumptions, including a health care cost trend rate, that the Director of the Office determines to be appropriate. ; and by adding at the end the following: In this subsection, the term Postal Service actuarial liability means the difference between— the net present value of future payments required under section 8906(g)(2)(A) for current and future United States Postal Service annuitants; and the net present value as computed under paragraph
(1)attributable to the future service of United States Postal Service employees. ; and by adding at the end the following: Subsections
(a)through
(d)of this section shall be subject to section 104 of the Postal Reform Act of 2013 . . Any obligation of the Postal Service under section 8909a(d)(3)(A) of title 5, United States Code, as in effect on the day before the date of enactment of this Act, that remains unpaid as of such date of enactment is cancelled. The heading of section 8909a of title 5, United States Code, is amended by striking Benefit and inserting Benefits .