Download or read book Postal Civil Service Retirement System Funding Reform Act of 2003 written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2003 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Postal Civil Service Retirement System Funding Reform Act of 2003 written by United States. Congress. House. Committee on Government Reform and published by . This book was released on 2003 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Postal Civil Service Retirement System Funding Reform Act of 2003 written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2003 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Postal Civil Service Retirement System Funding Reform Act of 2003 written by United States and published by . This book was released on 2003 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Postal Civil Service Retirement System Funding Reform Act of 2003 written by United States. Congress. House. Committee on Government Reform and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book POSTAL CIVIL SERVICE RETIREMENT SYSTEM FUNDING REFORM ACT OF 2003 REPORT 108 49 HOUSE OF REPRESENTATIVES 108TH CONGRESS 1ST SESSIO written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Postal Pension Funding Reform written by David M. Walker and published by DIANE Publishing. This book was released on 2004-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In April 2003, Congress enacted the Postal Civil Service Retire. System (CSRS) Funding Reform Act of 2003 (P.L. 108-18), which lowered the Postal Service's (USPS) annual pay. for its CSRS obligation by over $2.5 billion beg. in FY 2003. The Act requires: (1) the USPS to begin making payments into an escrow account in FY 2006, (2) the USPS to issue a report on its proposed use of "savings" resulting from the lower CSRS payments, and (3) the GAO to evaluate the USPS's report and present its findings to Congress. GAO evaluated whether the USPS's proposals were consistent with P.L. 108-18; the impact of the escrow account; and whether the proposals were fair to current and future ratepayers, affordable, and helped achieve transformation goals. Tables.

Download or read book Postal Pension Funding Reform written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In April 2003, Congress enacted the Postal Civil Service Retirement System (CSRS) Funding Reform Act of 2003 (P.L. 108-18), which\ lowered the Postal Service's (Service) annual payment for its CSRS obligation by over $2.5 billion beginning in fiscal year 2003. P.L. 108-18 includes requiring (1) the Service to begin making payments into an escrow account in fiscal year 2006, (2) the Service to issue a report on its proposed use of "savings" resulting from the lower CSRS payments, and (3) GAO to evaluate the Service's report and present its findings to Congress. GAO evaluated whether the Service's proposals were consistent with P.L. 108-18; the impact of the escrow account; and whether the proposals were fair to current and future ratepayers, affordable, and helped achieve transformation goals.

Download or read book Pension Issues Cloud Postal Reform Debate written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "Reform of the business model of the U.S. Postal Service (USPS) was given new momentum by the July 2003 report of a blue-ribbon presidential commission. The commission concluded that USPS faces a long-term decline in mail volume and revenues, and unless its finances are shored up, a taxpayer bailout or loss of universal service is threatened. The 108th Congress held a dozen hearings on the commission's report. Broad postal reform proposals, however, have been somewhat overshadowed by controversy over two pension funding issues left unsettled by passage of P.L. 10818, the Postal Civil Service Retirement System Funding Reform Act of 2003. The first issue is what to do with the "savings" to USPS from the reduction in its payments to the Civil Service Retirement Fund allowed by the law. Savings for the first three years were to be used to pay off the USPS debt to the Treasury, but for FY2006 and later years, the law provided that they be held in escrow pending further congressional action. Continuation of the escrow requirement greatly concerns mailers' organizations, because anticipated new rates will extract $18.3 billion from mail users over the next five years that cannot be used to deliver the mail or support the system. The Administration opposes removal of the escrow because it would add at least $3 billion annually to the budget deficit. The second issue concerns the provision in the 2003 act transferring from the Treasury to USPS responsibility for paying the retirement benefits earned by postal employees when they were members of the armed forces, a $27 billion obligation. USPS argues that the Treasury pays for military service credits held by employees of every other agency, and there is no connection between the USPS mission and that of the military. USPS points out that 90% of the obligation was incurred before USPS was established as an independent entity in 1971. The Administration, however, believes that USPS should pay the full cost of its employees' pensions, including those earned in military service, because the credits have pension value only by virtue of USPS having hired veterans in the first place. The Federal Employees Retirement System (FERS), to which all postal employees newly hired since 1984 belong, fully funds military retirement costs through agency contributions. These two issues prevented postal reform legislation, reported without dissent by the House Government Reform and Senate Governmental Affairs Committees, from reaching the floor in the 108th Congress. Both bills would have removed the escrow requirement and relieved USPS of its current obligation to pay the military pension costs of its employees. They would also require USPS to begin funding its future retiree health care obligations. The House bill was re-introduced and passed in the 109th Congress as H.R. 22. The Senate bill, S. 662, was reported from committee by a vote of 15-1 on June 22, 2005. Since USPS was granted a 5.4% rate increase this month to cover the costs of the escrow, and a compromise has emerged to split the military retirement costs, pension issues may no longer be a block to consideration by the full Senate."

Download or read book Postal pension funding reform review of military service funding proposals written by and published by DIANE Publishing. This book was released on with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Issues Cloud Postal Reform Debate written by and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reform of the business model of the U.S. Postal Service (USPS) was given new momentum by the July 2003 report of a blue-ribbon presidential commission. The commission concluded that USPS faces a long-term decline in mail volume and revenues, and unless its finances are shored up, a taxpayer bailout or loss of universal service is threatened. The 108th Congress held a dozen hearings on the commission's report. Broad postal reform proposals, however, have been somewhat overshadowed by controversy over two pension funding issues left unsettled by passage of P.L. 10818, the Postal Civil Service Retirement System Funding Reform Act of 2003. The first issue is what to do with the "savings" to USPS from the reduction in its payments to the Civil Service Retirement Fund allowed by the law. Savings for the first three years were to be used to pay off the USPS debt to the Treasury, but for FY2006 and later years, the law provided that they be held in escrow pending further congressional action. Continuation of the escrow requirement greatly concerns mailers' organizations, because anticipated new rates will extract $18.3 billion from mail users over the next five years that cannot be used to deliver the mail or support the system. The Administration opposes removal of the escrow because it would add at least $3 billion annually to the budget deficit. The second issue concerns the provision in the 2003 act transferring from the Treasury to USPS responsibility for paying the retirement benefits earned by postal employees when they were members of the armed forces, a $27 billion obligation. USPS argues that the Treasury pays for military service credits held by employees of every other agency, and there is no connection between the USPS mission and that of the military. USPS points out that 90% of the obligation was incurred before USPS was established as an independent entity in 1971. The Administration, however, believes that USPS should pay the full cost of its employees' pensions, including those earned in military service, because the credits have pension value only by virtue of USPS having hired veterans in the first place. The Federal Employees Retirement System (FERS), to which all postal employees newly hired since 1984 belong, fully funds military retirement costs through agency contributions. These two issues prevented postal reform legislation, reported without dissent by the House Government Reform and Senate Governmental Affairs Committees, from reaching the floor in the 108th Congress. Both bills would have removed the escrow requirement and relieved USPS of its current obligation to pay the military pension costs of its employees. They would also require USPS to begin funding its future retiree health care obligations. The House bill was re-introduced and passed in the 109th Congress as H.R. 22. The Senate bill, S. 662, was reported from committee by a vote of 15-1 on June 22, 2005. Since USPS was granted a 5.4% rate increase this month to cover the costs of the escrow, and a compromise has emerged to split the military retirement costs, pension issues may no longer be a block to consideration by the full Senate. This report will be updated to reflect significant legislative developments.

Download or read book Fiscal Soundness of the Civil Service Retirement System written by United States. Congress. Senate. Committee on Post Office and Civil Service. Subcommittee on Retirement and published by . This book was released on 1963 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers legislation to revise Government contribution to retirement fund.

Download or read book Postal pension funding reform issues related to the Postal Service s proposed use of pension savings written by and published by DIANE Publishing. This book was released on with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 2015 with total page 1442 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Bills to Liberalize Retirement Program written by United States. Congress. Senate. Committee on Post Office and Civil Service and published by . This book was released on 1964 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers legislation on civil service retirement annuity service credit allowances and annuity payment increases.

Download or read book Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 2002 with total page 1276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Appendix Budget of the United States Government Fiscal Year 2016 written by Executive Office of the President and published by Government Printing Office. This book was released on 2015-02-02 with total page 1400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Officially released on February 2, 2015. As one of the reference volumes of the FY2016 Budget request of the President, the popular Fiscal Year Budget Appendix volume presents detailed financial information on individual programs, Federal agencies and appropriation accounts that constitute the budget in tables and graphs. Includes for each Government department and agency the text of proposed appropriations language, budget schedules for each account, new legislative proposals, and explanations of the work to be performed and the funds needed, and proposed general provisions applicable to the appropriations of entire agencies or groups of agencies. Federal agency personnel, policy makers, think tank advocates, lawmakers, media organizations, and others interested in a "line item by line item" view of the President's proposed Fiscal year Budget will want this resource in their personal library collection. Public and academic libraries will want to make this annual reference product available for the general public in their Government collections. Students studying Public Finance, political scientists, and researchers will appreciate this detailed information with authoritative data legends presented in tables and graphs.