summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Securing Annuities for Federal Employees Act of 2012 - Increases the employee contribution to the Civil Service Retirement System (CSRS) and to the Federal Employees Retirement System (FERS) by .5% of salary in each of calendar years 2013, 2014, and 2015. Reduces the employer contribution to CSRS and FERS by the amount of the increased employee contribution. Establishes new annuity computation rules for federal employees and Members of Congress who begin service after December 31, 2012, and who have less than five years of civilian service creditable under CSRS or any other retirement system for federal employees (secure annuity employees). Increases the employee contribution for secure annuity employees and calculates annuities for such employees based upon the average of their highest five years of salary (for current federal employees, the calculation is based on the highest three years of salary). Eliminates the FERS annuity supplement for employees not subject to mandatory retirement who separate from service after December 31, 2012. Allows federal employees, including employees of the U.S. Postal Service (USPS) and the Postal Regulatory Commission (PRC), and Members of Congress, to contribute payments received for accumulated and accrued annual or vacation leave to the Thrift Savings Fund.
AI Summary
This bill, the Securing Annuities for Federal Employees Act of 2012, proposes several changes to federal employee retirement systems. It will gradually increase employee contributions to both the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS) by 0.5% of salary each year for 2013, 2014, and 2015, while simultaneously reducing the government's contribution by the same amount. For new federal employees and Members of Congress starting after December 31, 2012, who have less than five years of creditable civilian service (referred to as "secure annuity employees"), their annuities will be calculated based on the average of their highest five years of salary, compared to the current three years for other federal employees. Additionally, the bill eliminates the FERS annuity supplement for employees not subject to mandatory retirement who leave service after December 31, 2012, and allows federal employees, including those at the U.S. Postal Service (USPS) and the Postal Regulatory Commission (PRC), along with Members of Congress, to contribute payments received for unused annual or vacation leave to their Thrift Savings Fund accounts.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Rules Committee Resolution H. Res. 547 Reported to House. The resolution provides for one hour of debate on H.R. 3408. All points of order against consideration of the bill are waived. Specified amendments printed in part A of the report accompanying this resolution are in order. The resolution provides for one hour of debate on H.R. 3813. All points of order against consideration of the bill are waived. Specified amendments printed in part B of the report accompanying this resolution are in order. The resolution provides for one hour of debate on H.R. 7. (on 02/14/2012)
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/3813/all-info |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr3813rh/pdf/BILLS-112hr3813rh.pdf.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr3813ih/pdf/BILLS-112hr3813ih.pdf.pdf |
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