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. 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

 

5. CBO ESTIMATE:

	(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:

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:

	(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.