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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2748 Introduced in House (IH)]

108th CONGRESS
  1st Session
                                H. R. 2748

     To amend chapter 84 of title 5, United States Code, to allow 
 individuals who return to Government service after receiving a refund 
of retirement contributions to recapture credit for the service covered 
   by that refund by repaying the amount that was so received, with 
                               interest.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2003

Mr. Moran of Virginia (for himself, Mr. Wolf, Mr. Frost, Mr. Wynn, Mr. 
 Ballance, Mr. Davis of Illinois, Mr. Van Hollen, Ms. Norton, and Mr. 
    Hoyer) introduced the following bill; which was referred to the 
                     Committee on Government Reform

_______________________________________________________________________

                                 A BILL

 
     To amend chapter 84 of title 5, United States Code, to allow 
 individuals who return to Government service after receiving a refund 
of retirement contributions to recapture credit for the service covered 
   by that refund by repaying the amount that was so received, with 
                               interest.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FERS Redeposit Act''.

SEC. 2. DEPOSIT AUTHORITY.

    Section 8422 of title 5, United States Code, is amended by adding 
at the end the following:
    ``(i)(1) Each employee or Member who has received a refund of 
retirement deductions under this or any other retirement system 
established for employees of the Government covering service for which 
such employee or Member may be allowed credit under this chapter may 
deposit the amount received, with interest. Credit may not be allowed 
for the service covered by the refund until the deposit is made.
    ``(2) Interest under this subsection shall be computed in 
accordance with paragraphs (2) and (3) of section 8334(e) and 
regulations prescribed by the Office. The option under the third 
sentence of section 8334(e)(2) to make a deposit in one or more 
installments shall apply to deposits under this subsection.
    ``(3) For the purpose of survivor annuities, deposits authorized by 
this subsection may also be made by a survivor of an employee or 
Member.''.

SEC. 3. TECHNICAL AND CONFORMING AMENDMENTS.

    (a) Definitional Amendment.--Section 8401(19)(C) of title 5, United 
States Code, is amended by striking ``8411(f);'' and inserting 
``8411(f) or 8422(i);''.
    (b) Crediting of Deposits.--Section 8422(c) of title 5, United 
States Code, is amended by adding at the end the following: ``Deposits 
made by an employee, Member, or survivor also shall be credited to the 
Fund.''.
    (c) Section Heading.--(1) The heading for section 8422 of title 5, 
United States Code, is amended to read as follows:
``Sec. 8422. Deductions from pay; contributions for military service; 
              deposits''.
    (2) The analysis for chapter 84 of title 5, United States Code, is 
amended by striking the item relating to section 8422 and inserting the 
following:

``8422. Deductions from pay; contributions for military service; 
                            deposits.''.
    (d) Restoration of Annuity Rights.--The last sentence of section 
8424(a) of title 5, United States Code, is amended by striking 
``based.'' and inserting ``based, until the employee or Member is 
reemployed in the service subject to this chapter.''.
                                 <all>
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