H.R.1820 - Federal Employees Retirement Incentive Act102nd Congress (1991-1992)
|Sponsor:||Rep. Boxer, Barbara [D-CA-6] (Introduced 04/16/1991)|
|Committees:||House - Post Office and Civil Service|
|Latest Action:||House - 05/06/1991 Executive Comment Requested from OMB, OPM. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1820 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (04/16/1991)
Federal Employees Retirement Incentive Act - Allows certain Federal employees serving in entities undergoing a major reorganization, reduction in force, or transfer of functions to elect to have four years added to their age upon separation, their total creditable service, or a combination thereof (not to exceed four years) for purposes of determining retirement eligibility and benefits under the Civil Service and Federal Employees' Retirement Systems.
Amends provisions governing early or immediate retirement for Government employees to consider certain requirements for entitlement to annuities to have been met (with respect to agency reorganization, reduction in force, or transfer of functions conditions) if: (1) at least five percent of the employees within the agency and geographic area involved will be separated; or (2) at least 20 percent of such employees will be subject to an immediate reduction in the rate of basic pay. Waives such minimum percentages under certain circumstances.