OMB
COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
Report No: 558
Date: 09/10/2001
- LAW
NUMBER: P.L.107-27 (H.R. 93)
- BILL
TITLE: Federal Firefighters Retirement Age Fairness Act
- BILL
PURPOSE: Increases the mandatory retirement age for Federal firefighters
from 55 to 57 years of age.
- 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.
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Net
costs.................................... |
0 |
0 |
0 |
0 |
0 |
0 |
- CBO
ESTIMATE:
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Net
costs.................................... |
0 |
0 |
-1 |
-1 |
-1 |
-1 |
- EXPLANATION
OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
CBO assumes that half of the firefighters who are estimated to
retire at age 55 under current law would delay their retirement.
- CUMULATIVE
EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:
|
(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.
|