United States 116th Congress Status: In Committee 1 D cosponsors

HR 2553 — Postal Service Financial Improvement Act of 2019

Last action — Referred to the House Committee on Oversight and Reform.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

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.

Bill Text

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Oversight and Reform.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 2553 do?
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.
Who sponsors HR 2553?
HR 2553 is sponsored by Lynch, Stephen F. (Democratic).
What is the current status of HR 2553?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 2553?
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