Page:United States Statutes at Large Volume 120.djvu/3283

 120 STAT. 3252

PUBLIC LAW 109–435—DEC. 20, 2006 ‘‘(v) $5,500,000,000, not later than September ‘‘(vi) $5,600,000,000, not later than September ‘‘(vii) $5,600,000,000, not later than September ‘‘(viii) $5,700,000,000, not later than September ‘‘(ix) $5,700,000,000, not later than September

30, 30, 30, 30, 30,

2011; 2012; 2013; 2014; 2015;

and ‘‘(x) $5,800,000,000, not later than September 30, 2016. ‘‘(B) Not later than September 30, 2017, and by September 30 of each succeeding year, the United States Postal Service shall pay into such Fund the sum of— ‘‘(i) the net present value computed under paragraph (1); and ‘‘(ii) any annual installment computed under paragraph (2)(B). ‘‘(4) Computations under this subsection shall be made consistent with the assumptions and methodology used by the Office for financial reporting under subchapter II of chapter 35 of title 31. ‘‘(5)(A)(i) Any computation or other determination of the Office under this subsection shall, upon request of the United States Postal Service, be subject to a review by the Postal Regulatory Commission under this paragraph. ‘‘(ii) Upon receiving a request under clause (i), the Commission shall promptly procure the services of an actuary, who shall hold membership in the American Academy of Actuaries and shall be qualified in the evaluation of healthcare insurance obligations, to conduct a review in accordance with generally accepted actuarial practices and principles and to provide a report to the Commission containing the results of the review. The Commission, upon determining that the report satisfies the requirements of this subparagraph, shall approve the report, with any comments it may choose to make, and submit it with any such comments to the Postal Service, the Office of Personnel Management, and Congress. ‘‘(B) Upon receiving the report under subparagraph (A), the Office of Personnel Management shall reconsider its determination or redetermination in light of such report, and shall make any appropriate adjustments. The Office shall submit a report containing the results of its reconsideration to the Commission, the Postal Service, and Congress. ‘‘(6) After consultation with the United States Postal Service, the Office shall promulgate any regulations the Office determines necessary under this subsection.’’. (2) TECHNICAL AND CONFORMING AMENDMENT.—The table of sections for chapter 89 of title 5, United States Code, is amended by inserting after the item relating to section 8909 the following:

Reports.

Reports.

Regulatioins.

‘‘8909a. Postal Service Retiree Health Benefits Fund.’’. 5 USC 8909a.

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(b) REVIEW.— (1) IN GENERAL.— (A) REQUEST FOR REVIEW.—Any regulation established under section 8909a(d)(5) of title 5, United States Code (as added by subsection (a)), shall, upon request of the United States Postal Service, be subject to a review by the Postal Regulatory Commission under this paragraph.

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