summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Federal Employee Phased Retirement Act - Allows a retirement-eligible federal employee under the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS), with the concurrence of the head of the employing agency, to make a one-time election to enter phased retirement status under which such employee shall be appointed to a position for which the working percentage (the number of hours worked by such employee per pay period divided by the number of hours worked by a full-time employee in a comparable position) is 50%. Authorizes the Director of the Office of Personnel Management (OPM) to provide for a different working percentage which shall not be less than 20% or more than 80%. Denies eligibility for any employee after the date such employee is required to be separated from service under mandatory retirement provisions. Imposes certain requirements for and limitations on the employment of such a phased retiree, including that such retiree: (1) must have been employed on a full-time basis for not less than the three-year period ending on the date of an election under this Act; (2) may not be employed in more than one position at any time, but may transfer to another position in the same or different agency; and (3) must spend not less than 20% of working hours mentoring other employees. Sets forth rules for the computation of: (1) a phased retirement annuity, which shall be paid in addition to the basic pay for the position to which a phased retiree is appointed; and (2) a composite annuity, which a phased retiree shall be entitled to receive upon electing to enter full retirement status. Authorizes a phased retiree: (1) with the concurrence of the head of the employing agency, to elect to terminate phased retirement status and return to a full-time work schedule; or (2) elect to enter full retirement status at any time. Allows a phased retiree under CSRS or FERS who has completed at least one year of service as such a retiree to contribute to a Thrift Savings Fund account any part of any payment received as accumulated and current accrued annual or vacation leave.
AI Summary
This bill, the Federal Employee Phased Retirement Act, allows federal employees under the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS) who are eligible for retirement to elect a one-time transition into phased retirement, with agency approval. This status involves working a reduced schedule, initially set at 50% of full-time hours, though the Director of the Office of Personnel Management (OPM) can adjust this percentage between 20% and 80%. Employees must have worked full-time for at least three years to be eligible and cannot enter phased retirement if they are already subject to mandatory retirement. During phased retirement, employees are limited to one position, can transfer agencies, and must dedicate at least 20% of their work hours to mentoring others, with some exceptions. The bill also outlines how retirement annuities are calculated during phased retirement and upon transitioning to full retirement, and allows phased retirees who have served for at least a year to contribute unused leave payments to their Thrift Savings Fund account. Phased retirees can also choose to return to full-time work or enter full retirement at any time.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
Placed on the Union Calendar, Calendar No. 383. (on 06/15/2012)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/4363/all-info |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr4363rh/pdf/BILLS-112hr4363rh.pdf.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr4363ih/pdf/BILLS-112hr4363ih.pdf.pdf |
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