Page:United States Statutes at Large Volume 117.djvu/647

 117 STAT. 628

Deadlines.

VerDate 11-MAY-2000

13:45 Aug 26, 2004

PUBLIC LAW 108–18—APR. 23, 2003

(A) formulate a plan specifically enumerating the actuarial methods and assumptions by which the Office shall make its computations under paragraph (1); and (B) submit such plan to the Committee on Government Reform of the House of Representatives and the Committee on Governmental Affairs of the Senate. (3) REQUIREMENTS.—The plan shall be formulated in consultation with the Postal Service and shall include the opportunity for the Postal Service to request reconsideration of computations under this subsection, and for the Board of Actuaries of the Civil Service Retirement System to review and make adjustments to such computations, to the same extent and in the same manner as provided under section 8423(c) of title 5, United States Code. (c) REPORTING REQUIREMENT.—The Postal Service shall include in each report rendered under section 2402 of title 39, United States Code, the amount applied toward reducing the postal debt, and the size of the postal debt before and after the application of subsection (a), during the period covered by such report. (d) SENSE OF CONGRESS.—It is the sense of the Congress that— (1) the savings accruing to the Postal Service as a result of the enactment of this Act will be sufficient to allow the Postal Service to fulfill its commitment to hold postage rates unchanged until at least 2006; (2) because the Postal Service still faces substantial obligations related to postretirement health benefits for its current and former employees, some portion of the savings referred to in paragraph (1) should be used to address those unfunded obligations; and (3) none of the savings referred to in paragraph (1) should be used in the computation of any bonuses for Postal Service executives. (e) POSTAL SERVICE PROPOSAL.— (1) IN GENERAL.—The United States Postal Service shall, by September 30, 2003, prepare and submit to the President, the Congress, and the General Accounting Office its proposal detailing how any savings accruing to the Postal Service as a result of the enactment of this Act, which are attributable to any fiscal year after fiscal year 2005, should be expended. (2) MATTERS TO CONSIDER.—In preparing its proposal under this subsection, the Postal Service shall consider— (A) whether, and to what extent, those future savings should be used to address— (i) debt repayment; (ii) prefunding of postretirement healthcare benefits for current and former postal employees; (iii) productivity and cost saving capital investments; (iv) delaying or moderating increases in postal rates; and (v) any other matter; and (B) the work of the President’s Commission on the United States Postal Service under section 5 of Executive Order 13278 (67 Fed. Reg. 76672). (3) GAO REVIEW AND REPORT.—Not later than 60 days after the Postal Service submits its proposal pursuant to paragraph (1), the General Accounting Office shall prepare and

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