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U.S. Treasury begins additional cash management measures due to debt limit
March 16, 2017 / 7:28 PM / 8 months ago

U.S. Treasury begins additional cash management measures due to debt limit

WASHINGTON, March 16 (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Thursday announced further cash management measures to avoid a U.S. default.

In a letter to House Speaker Paul Ryan, Mnuchin said that Treasury would no longer be able to fully invest in three retirement and investment funds for federal workers.

They are are the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund and the Government Securities Investment Fund of the Federal Employees’ Retirement System, according to the letter.

All would be made whole once the debt limit is increased, Mnuchin said.

“Federal retirees and employees will be unaffected by these actions,” he added. (Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama; Editing by)

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