S. 1507 would amend chapter 89 of title 5, Untied States Code, to reform Postal Service retiree health benefits funding.
Detailed Summary
Postal Service Retiree Health Benefits Funding Reform Act of 2009 - Requires government contributions for health benefits for United States Postal Service annuitants to be paid first from the Postal Service Retiree Health Benefits Fund up to the amount contained in the Fund, with any remaining amount paid by the Postal Service. (Current law requires such contributions to be paid by the Postal Service through September 30, 2016.)
Extends: (1) the deadline for computing required payments for liquidating any Fund liability or surplus; and (2) the target date for such liquidation. Modifies provisions governing required Postal Service payments into the Fund, including by requiring payments by September 30 of each year through 2019 of specified amounts and of the net present value of the future payments required and attributable to the service of Postal Service employees during the most recently ended fiscal year.
Increases the Postal Service's borrowing authority for FY2009 and FY2010. Requires any amount borrowed under that increased authority to be repaid by the Postal Service by the end of FY2019.
Makes this Act retroactive to October 1, 2008.
Status of the Legislation
Latest Major Action: 7/30/2009: Senate committee/subcommittee actions. Status: Committee on Homeland Security and Governmental Affairs. Ordered to be reported with amendments favorably.
Points in Favor
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Points Against
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Visitor Comments
Justin mcintosh
August 6, 2009, 12:22am (report abuse)Bill will take away our right to a collective bargaining.. "the arbitration clause" ..they will lower our wages n benifits n maybe work hours.. SAY NO TO "S. 1507" they trying 2 kill our post offices
Teddy531
August 7, 2009, 3:29pm (report abuse)Retiree's already pay 2.5 times for health benefits that current employees!
steveinPA
September 21, 2009, 7:43pm (report abuse)What do you want, my health care was increased by a factor of 10 when I retired from LMC.
You want everything like the congress malcontents also!
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September 22, 2009, 9:01am (report abuse)Typical rant from American Postal Worker's Union. The APWU is losing power and is fighting at every turn to control the postal service. Fire all of them like Reagan did with air traffic controllers. Then maybe they would appreciate having a job next time.