Skip Main Navigation
Office of Management and Budget
About OMB
President's Budget
Management
Information &
Regulatory Affairs
Legislative Information
Agency Information

OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS

Report No: 558
Date: 09/10/2001

  1. LAW NUMBER: P.L.107-27 (H.R. 93)

  2. BILL TITLE: Federal Firefighters Retirement Age Fairness Act

  3. BILL PURPOSE: Increases the mandatory retirement age for Federal firefighters from 55 to 57 years of age.

    4.  

  4. OMB ESTIMATE: Under current law, the agencies employing Federal firefighters have the authority to waive the mandatory retirement until age 60. As a result, OMB estimates that the increase in the mandatory retirement age would have no impact on the retirement of Federal firefighters.

    5. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Net costs.................................... 0 0 0 0 0 0

     

  5. CBO ESTIMATE:
    6. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Net costs.................................... 0 0 -1 -1 -1 -1

     

  6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

    7. CBO assumes that half of the firefighters who are estimated to retire at age 55 under current law would delay their retirement.

  7. CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:
    8. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Outlay effect.............. 5,503 16,638 20,274 21,014 22,071 7,413
    Receipt effect............ -69,501 -35,105 -84,594 -103,783 -104,936 -123,372
    Net costs.................... 75,004 51,743 104,868 124,797 127,007 130,785

    NOTE: The cumulative effect of direct spending and revenue legislation enacted to date is currently estimated to result in an end-of-session sequester. The Administration looks forward to working with the Congress to ensure that an unintended sequester does not occur.