Summary: H.R.2631 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for H.R.2631. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/29/1999)

Federal Employee Retirement Contributions Act of 1999 - Amends Federal retirement provisions to reduce to seven percent after December 31, 1999, the required retirement contribution by Federal employees participating under the Civil Service Retirement System (CSRS) (such contribution currently is scheduled to be 7.4 percent for calendar year 2000, and 7.5 percent for 2001). Reduces similarly the required percentage contribution under CSRS for Members of Congress and congressional employees, law enforcement or firefighting personnel, certain judges and magistrates, and nuclear material couriers. Makes similar reductions for participants in the Federal Employees' Retirement System (FERS). Makes conforming reductions with respect to military and volunteer service under FERS.

Amends the Balanced Budget Act of 1997 and the Foreign Service Act of 1980 to make similar employee retirement contribution reductions under the Central Intelligence Agency Retirement and Disability System, the Foreign Service Retirement and Disability System, and the Foreign Service Pension System.