110 HR 3910 IH: To amend title 5, United States Code, to allow any U.S. House of Representatives 2007-10-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 3910 IN THE HOUSE OF REPRESENTATIVES October 18, 2007 Mr. Van Hollen introduced the following bill; which was referred to the Committee on Oversight and Government Reform A BILL To amend title 5, United States Code, to allow any Federal employee who has performed sufficient service to entitle such employee to the maximum annuity percentage allowable under the Civil Service Retirement System to terminate retirement deductions from pay.

1.

Election to terminate retirement deductions

(a)

In general

Section 8334 of title 5, United States Code, is amended by adding at the end the following: (o)(1)The Office of Personnel Management shall prescribe regulations under which an employee may, in accordance with succeeding provisions of this subsection, elect to terminate retirement deductions from the basic pay of such employee under subsection (a)(1)(A). (2)An election under this subsection shall take effect as of the first day of the first month which begins after the latest of— (A)the date of the election; (B)the date as of which the employee has performed sufficient service (excluding service which the employee elects to eliminate for the purpose of annuity computation under section 8339) to entitle such employee to the maximum annuity provided by section 8339; or (C)such date as the employee may specify at the time of the election. (3)In the case of an election which does not take effect until after the first day of the first month following the date described in subparagraph (B) of paragraph (2), section 8342(h) shall apply, in accordance with its terms, until the effective date of the election. (4)An employee making an election under this subsection does not, by virtue of such election— (A)cease to be subject to this subchapter for purposes of section 8333(b); (B)forfeit the right to have any subsequently accruing sick leave taken into account for purposes of section 8339(m); (C)forfeit the right to have a subsequent rate of basic pay taken into account for purposes of determining average pay; (D)cease to be eligible to continue contributing to the Thrift Savings Fund; or (E)cease to be eligible to make (by a means other than deductions under section 8342(h)) any deposit remaining due under this section. . (b)

Effect on deductions and contributions

Section 8334(c) of title 5, United States Code, is amended by adding at the end the following: Notwithstanding any other provision of this subsection, in the case of an employee who makes an election under subsection (o), the applicable percentage under this subsection is, with respect to basic pay for any period of service performed on or after the effective date of such election, zero. (c)

Effective date

The election provided by this Act shall be made available beginning not later than 90 days after the date of the enactment of this Act.