S.Amdt. 2067

1. Adds SEC. __. ADJUSTMENT TO METHOD FOR CALCULATING PAYMENTS BY POSTAL SERVICE TO FEDERAL EMPLOYEES' RETIREMENT SYSTEM wherever appropriate

   Adds a section

   Inserted: SEC. __. ADJUSTMENT TO METHOD FOR CALCULATING PAYMENTS BY POSTAL SERVICE TO FEDERAL EMPLOYEES' RETIREMENT SYSTEM.

   Inserted: Section 8423(a) of title 5, United States Code, is amended--

   Inserted: (1) in paragraph (1)--

   Inserted: (A) in subparagraph (A)(i), by inserting "or subparagraph (C)" after "subparagraph (B)";

   Inserted: (B) in subparagraph (B)(ii), by striking the period at the end and inserting the following: "; and"; and

   Inserted: (C) by adding at the end the following:

   Inserted: "(C) the product of--

   Inserted: "(i) the normal-cost percentage, as determined for employees of the United States Postal Service under paragraph (5), multiplied by

   Inserted: "(ii) the aggregate amount of basic pay payable by the United States Postal Service, for the period involved, to employees of the United States Postal Service."; and

   Inserted: (2) by adding at the end the following:

   Inserted: "(5)(A) In determining the normal cost percentage for employees of the United States Postal Service, the Office shall use--

   Inserted: "(i) demographic factors specific to such employees, unless such data cannot be generated; and

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   Inserted: "(ii) economic assumptions regarding increases in rates of basic pay that reflect the specific past and likely future pay increases for such employees.

   Inserted: "(B) Upon request of the Office, the United States Postal Service shall provide any data or projections the Office may require in order to determine the normal cost percentage for employees of the United States Postal Service consistent with subparagraph (A).

   Inserted: "(C) The United States Postal Service may appeal any determination by the Office to the Board of Actuaries of the Civil Service Retirement System pursuant to subsection (c) of this section.".

   The amendment doesn't say where this goes; the clerk decides.

   Original wording

   At the appropriate place, insert the following:

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As printed