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Code · BILL · 114th Congress · S. 2051 (Introduced in Senate) — To improve, sustain, and transform the United States Postal Service. · Sec. 104

Sec. 104. Annual Federal Employees Retirement System and Civil Service Retirement System assessments

1,631 words·~7 min read·/bill/114/s/2051/is/section-104·

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Section 8423(a) of title 5, United States Code, is amended— in paragraph (1), by inserting other than the United States Postal Service after Each employing agency ; and by adding at the end the following: The United States Postal Service shall contribute to the Fund an amount equal to the product of— the normal-cost percentage, as determined for employees of the United States Postal Service under subparagraph (B), multiplied by the aggregate amount of basic pay payable by the United States Postal Service, for the period involved, to employees of the United States Postal Service.
In determining the normal-cost percentage for employees of the United States Postal Service, the Office shall use— demographic factors specific to the employees; and appropriate economic assumptions, consistent with recommendations from an independent entity, regarding wage and salary trends specific to the employees. The United States Postal Service shall provide any data or projections the Office requires in order to determine the normal-cost percentage for employees of the United States Postal Service consistent with clause (i).
Notwithstanding paragraph (2), in determining the normal-cost percentage to be applied for employees of the United States Postal Service, the Office shall take into account amounts provided under section 8422. The Office shall review the determination of the normal-cost percentage for employees of the United States Postal Service and make such adjustments as the Office determines are necessary— upon request of the United States Postal Service, but no more frequently than once each fiscal year; and at any additional times, as the Office considers appropriate. .
Not later than 180 days after the date on which the Office receives the appropriate data or projections from the Postal Service under clause
(ii)of section 8423(a)(5)(B) of title 5, United States Code, as added by paragraph (1), the Office shall determine the normal-cost percentage for employees of the Postal Service in accordance with the requirements under such section 8423(a)(5)(B). On and after the date on which the Office determines the normal-cost percentage under paragraph (2), the contributions of the Postal Service to the Civil Service Retirement and Disability Fund relating to employees covered under chapter 84 of title 5, United States Code, shall be determined in accordance with paragraph
(5)of section 8423(a) of title 5, United States Code, as added by paragraph (1). Section 8423(b) of title 5, United States Code, is amended— in paragraph (2)— by striking or (1)(B) ; and by inserting and the amount of any supplemental liability computed under paragraph (1)(B) shall be amortized in 40 equal annual installments after annual installments ; by redesignating paragraph
(5)as paragraph (6); and by inserting after paragraph
(4)the following: In this paragraph, the term postal funding surplus means the amount by which the amount of supplemental liability computed under paragraph (1)(B) is less than zero. After the date on which the Office determines under paragraph (7)(C) the amount of supplemental liability computed under paragraph (1)(B) as of the close of the fiscal year ending on September 30, 2013, not later than the date on which the Postmaster General makes a request under subparagraph
(C)of this paragraph, and if the amount determined under paragraph (7)(C) is less than zero, the Postmaster General may request that some or all of the amount of the postal funding surplus, not to exceed $6,000,000,000, be returned to the United States Postal Service, and not later than 10 days after the request, the Director shall transfer to the United States Postal Service from the Fund an amount equal to the portion of the postal funding surplus requested, for use in accordance with subparagraph (E)(i). Subject to clause (ii), after the date on which the Office computes the amount of supplemental liability under paragraph (1)(B) as of the close of the fiscal year ending on September 30, 2014, and if such amount is less than zero, the Postmaster General may request that some of the amount of the postal funding surplus, not to exceed 2/3 of the amount, be returned to the United States Postal Service, and not later than 10 days after the request, the Director shall transfer to the United States Postal Service from the Fund an amount equal to the portion of the postal funding surplus requested, for use in accordance with subparagraph (E)(ii). If any amount requested by the Postmaster General under subparagraph
(B)is not transferred from the Fund as of the close of the fiscal year ending on September 30, 2014, for purposes of this subparagraph, the Office shall recompute the amount of supplemental liability computed under paragraph (1)(B) as of the close of that fiscal year by subtracting from the balance of the Fund the amount requested under subparagraph
(B)of this paragraph. If the amount of supplemental liability computed under paragraph (1)(B) as of the close of any fiscal year commencing after September 30, 2014, is less than zero, the Office shall establish an amortization schedule, including a series of equal annual installments that— provide for the liquidation of the postal funding surplus in 40 years, commencing on September 30 of the subsequent fiscal year; and shall be transferred to the United States Postal Service from the Fund for use in accordance with subparagraph (E)(ii). The United States Postal Service may use an amount transferred under subparagraph
(B)only for the purpose of repaying any obligation issued under section 2005(a) of title 39. The United States Postal Service may use an amount transferred under subparagraph
(C)or
(D)only— by directing that some or all of the amount be transferred to the Postal Service Retiree Health Benefits Fund for the purpose of reducing any Postal Service actuarial liability referred to under section 8909a; by directing that some or all of the amount be transferred to the Civil Service Retirement and Disability Fund for the purpose of reducing any supplemental liability under section 8348(h); by directing that some or all of the amount be transferred to the Civil Service Retirement and Disability Fund for the purpose of reducing any supplemental liability under section 8423(b)(1)(B); or as described in clause (i), if none of the liabilities referred to in subclause (I), (II), or
(III)remain unpaid. . Section 8423(b) of title 5, United States Code, as amended by paragraph
(1)of this subsection, is amended— in paragraph (6), as so redesignated, in the matter preceding subparagraph (A), by striking For the purpose and inserting Subject to paragraph (7), for the purpose ; and by adding at the end the following: For the purpose of carrying out paragraph (1)(B) with respect to the fiscal year ending September 30, 2013, and each fiscal year thereafter, the Office shall, consistent with subsection (a)(5)(B), use— demographic factors specific to current and former employees of the United States Postal Service; and appropriate economic assumptions, as determined by the Office, regarding wage and salary trends specific to current employees of the United States Postal Service. The United States Postal Service shall provide any data or projections the Office requires in order to carry out paragraph (1)(B) consistent with subparagraph
(A)of this paragraph. Not later than 180 days after the later of the date on which the Office receives the appropriate data or projections from the United States Postal Service under subparagraph
(B)or the date of enactment of the Improving Postal Operations, Service, and Transparency Act of 2015 , the Office shall determine or redetermine whether there is a postal funding surplus (as defined in paragraph (5)) or a supplemental liability described in paragraph (1)(B) (and the amount thereof) as of the close of the fiscal year ending on September 30, 2013, in accordance with the requirements under subparagraph
(A)of this paragraph. . Section 8348(h) of title 5, United States Code, is amended— in paragraph (2), by striking subparagraph
(B)and inserting the following: Not later than the date on which the Office determines the normal-cost percentage under section 104(a)(2) of the Improving Postal Operations, Service, and Transparency Act of 2015 , the Office shall redetermine the Postal surplus or supplemental liability as of the close of the fiscal year ending on September 30, 2013, in accordance with the requirements under paragraph (4). If the result of the redetermination under subclause
(I)is a surplus, that amount shall remain in the Fund until distribution is authorized under subparagraph (C). If the result of the redetermination under subclause
(I)is a supplemental liability, the Office shall establish an amortization schedule, including a series of annual installments commencing on September 30, 2016, which provides for the liquidation of such liability by September 30, 2055. The Office shall determine the Postal surplus or supplemental liability as of the close of each fiscal year beginning after September 30, 2014, in accordance with the requirements under paragraph (4). If the result of the determination under subclause
(I)is a surplus, that amount shall remain in the Fund until distribution is authorized under subparagraph (C). On and after June 15, 2016, if the result of the determination under subclause
(I)is a supplemental liability, the Office shall establish an amortization schedule, including a series of annual installments commencing on September 30 of the subsequent fiscal year, which provides for the liquidation of such liability by September 30, 2055. ; and by adding at the end the following: For the purpose of carrying out paragraphs
(1)and (2), the Office shall, consistent with section 8423(a)(5)(B), use— demographic factors specific to current and former employees of the United States Postal Service; and appropriate economic assumptions, as determined by the Office, regarding wage and salary trends specific to the employees. The United States Postal Service shall provide any data or projections the Office requires in order to carry out paragraphs
(1)and
(2)consistent with subparagraph
(A)of this paragraph. .
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