S 2014 · 112th Congress · Government Operations and Politics

Postal Investment Act of 2011

Introduced 2011-12-16· Sponsored by Sen. Akaka, Daniel K. [D-HI]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.(2011-12-16)

Plain Language Summary

[AI summary unavailable — showing source text] Postal Investment Act of 2011 - Revises provisions of federal law relating to the U.S. Postal Service (USPS) with respect to the funding of retiree health benefits, product innovation, and its workforce.   Postal Service Retiree Health Benefits Act of 2011 - Revises the method for calculating USPS contributions to the Postal Service Retiree Health Benefit Fund (Fund).  Eliminates currently required prefunding payments to the Fund after FY2012. Establishes the Postal Service Retiree Health Benefits Investment Board to manage investments for the Fund.  Permits the Board to invest in nongovernmental securities.  Establishes a funding level for the Fund at 80% of the net present value of contribution amounts. Exempts USPS from Fund contribution requirements in any fiscal year in which it has an outstanding debt obligation. Requires the Postal Regulatory Commission (PRC), in establishing or revising a system for regulating rates and classes for market-dominant products, to consider the effect of increased customer satisfaction and increased performance of services on the value of the mail for the general public, postal customers, and others engaged in the delive…

Summarized by Claude AI · Non-partisan · For informational purposes only