3.0.0 2553 2022-02-08T23:14:43Z 2022-02-08T23:14:43Z House HR 2019-05-07 116 [Congressional Record Volume 165, Number 75 (Tuesday, May 7, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LYNCH:H.R. 2553.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, cl. 18[Page H3475]]]> hsgo00 Oversight and Accountability Committee House Standing Referred to 2019-05-07T16:01:25Z 2019-05-07 Referred to the House Committee on Oversight and Reform. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2019-05-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-05-07 Introduced in House IntroReferral 1000 9 Library of Congress L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 N M001180 Rep. McKinley, David B. [R-WV-1] David McKinley R WV B. 1 2019-05-07 True R000602 Rep. Rice, Kathleen M. [D-NY-4] Kathleen Rice D NY M. 4 2019-07-11 False Government Operations and Politics Accounting and auditing Employee benefits and pensions Financial services and investments Government employee pay, benefits, personnel management Health care costs and insurance Securities U.S. Postal Service Government Operations and Politics 00 2019-05-07 Introduced in House 2021-01-09T20:24:32Z Postal Service Financial Improvement Act of 2019

This bill directs the Department of the Treasury to invest part of the Postal Service Retiree Health Benefits Fund in market-based index funds and establishes a Postal Service Retiree Health Benefits Fund Investment Committee to advise Treasury on investments made from the fund.

Specifically, Treasury shall (1) invest a specified percentage of the 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 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.
]]> Postal Service Financial Improvement Act of 2019 Display Title Postal Service Financial Improvement Act of 2019 Official Title as Introduced To amend title 5, United States Code, to provide for certain index fund investments from the Postal Service Retiree Health Benefits Fund, and for other purposes. Introduced in House IH Short Title(s) as Introduced Postal Service Financial Improvement Act of 2019 Introduced in House IH Introduced in House 2019-05-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2553ih/xml/BILLS-116hr2553ih.xml 2019-05-07 Referred to the House Committee on Oversight and Reform. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.