1. Short title This Act may be cited as the Postal Service Financial Improvement Act of 2017 . 2. Investment of the Postal Service Retiree Health Benefits Fund Section 8909a(c) of title 5, United States Code, is amended— (1) by striking (c) The Secretary and inserting (c)(1) Subject to paragraph (2), the Secretary ; and (2) by adding at the end the following: (2) (A) The Secretary of the Treasury shall immediately invest a specified percentage of the Fund, using one or more qualified professional asset managers, in index funds modeled after those established under subparagraphs (B), (C), (D), and (E) of section 8438(b)(1). The Secretary shall ensure, to the maximum extent practicable, that the investment replicates the performance of the longest-term target date asset allocation investment fund established by the Federal Retirement Thrift Investment Board. (B) In exercising authority under subparagraph (A), including in the selection of specific qualified professional asset managers and in the development of specific investment guidelines to meet the requirement of such subparagraph, the Secretary shall consult with the Postal Service Retiree Health Benefits Fund Investment Committee. (C) (i) There is established a Postal Service Retiree Health Benefits Fund Investment Committee that shall consist of— (I) the Secretary; (II) the Chair of the Board of Governors of the United States Postal Service; (III) the Chairman of the Federal Retirement Thrift Investment Board; and (IV) 2 members to represent the interests of Postal Service employees and annuitants who— (aa) are appointed by the President; (bb) have experience and expertise in the management of financial investments and Postal Service employee benefits