United States 114th Congress Status: Died 1 D cosponsors

HR 5707 — Postal Service Financial Improvement Act of 2016

Last action — Placed on the Union Calendar, Calendar No. 672.

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  1. ✓
    Introduced
  2. Died in session

This bill died with 114th Congress. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Postal Service Financial Improvement Act of 2016 This bill requires the Department of the Treasury to: (1) invest a specified percentage of the Postal Service Retiree Health Benefits 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 bill establishes the Postal Service Retiree Health Benefits Fund Investment Committee, which Treasury shall consult regarding such investments. 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

We don't have the full text on file for this bill yet.

Read HR 5707 on the official United States source →

Action History

  1. Placed on the Union Calendar, Calendar No. 672.

  2. Committee on the Budget discharged.

  3. Referred sequentially to the House Committee on the Budget for a period ending not later than Dec. 8, 2016 for consideration of such provisions of the bill as fall within the jurisdiction of that committee pursuant to clause 1(d) of rule X.

  4. Reported by the Committee on 114-859, Part I.

  5. Ordered to be Reported by Voice Vote.

  6. Committee Consideration and Mark-up Session Held.

  7. Referred to the House Committee on Oversight and Government Reform.

  8. Introduced in House

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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor health-insurance
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Frequently asked questions

What does HR 5707 do?
Postal Service Financial Improvement Act of 2016 This bill requires the Department of the Treasury to: (1) invest a specified percentage of the Postal Service Retiree Health Benefits 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 bill establishes the Postal Service Retiree Health Benefits Fund Investment Committee, which Treasury shall consult regarding such investments. 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 5707?
HR 5707 is sponsored by Stephen Lynch (D).
What is the current status of HR 5707?
This bill died with 114th Congress. It reached “Introduced” 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 5707?
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