To amend title 5, United States Code, to provide for the termination of further retirement coverage of Members of Congress, except for the right to participate in the Thrift Savings Plan, and for other purposes.

To amend title 5, United States Code, to provide for the termination of further retirement coverage of Members of Congress, except for the right to participate in the Thrift Savings Plan, and for other purposes. 1. Amendments relating to the Civil Service Retirement System (a) In general Subchapter III of chapter 83 8335a. Termination of further retirement coverage of Members of Congress (a) In general Notwithstanding any other provision of this subchapter, effective as of the first day of the first Congress beginning after the date of the enactment of this section— (1) a Member shall not be subject to this subchapter for any further period of time; and (2) no further Government contributions or deductions from basic pay may be made with respect to such Member for deposit in the Treasury of the United States to the credit of the Fund. (b) Prior rights not affected Nothing in subsection (a) shall be considered to nullify, modify, or otherwise affect any right, entitlement, or benefit under this subchapter with respect to any Member covering any period prior to the first day referred to in subsection (a). (c) Right to participate in Thrift Savings Plan not affected Nothing in subsection (a) shall affect the eligibility of a Member to participate in the Thrift Savings Plan in accordance with otherwise applicable provisions of law. (d) Regulations Any regulations necessary to carry out this section may— (1) be prescribed by the Director of the Office of Personnel Management, except with respect to matters under paragraph (2); and (2) with respect to matters relating to the Thrift Savings Plan, be prescribed by the Executive Director (as defined by section 8401(13)). . (b) Clerical amendment The table of sections of chapter 83 8335a. Termination of further retirement coverage of Members of Congress. . 2. Amendments relating to the Federal Employees’ Retirement System (a) In general Subchapter II of chapter 84 8425a. Termination of further retirement coverage of Members of Congress (a) In general Notwithstanding any other provision of this chapter, effective as of the first day of the first Congress beginning after the date of the enactment of this section— (1) in the case of an individual who first becomes a Member before such first day— (A) such Member shall not be subject to this chapter for any further period of time after such first day or, if later, the date on which such Member completes at least 5 years of Member service; and (B) no further Government contributions or deductions from basic pay may be made with respect to such Member, for deposit in the Treasury of the United States to the credit of the Fund, after such Member ceases to be subject to this chapter; and (2) in the case of an individual who first becomes a Member on or after such first day— (A) such Member shall not be subject to this chapter; and (B) no Government contributions or deductions from basic pay may be made with respect to such Member for deposit in the Treasury of the United States to the credit of the Civil Service Retirement and Disability Fund. (b) Prior rights not affected Nothing in subsection (a) shall be considered to nullify, modify, or otherwise affect any right, entitlement, or benefit under this chapter with respect to any Member covering any period prior to the first day referred to in subsection (a). (c) Right to participate in Thrift Savings Plan not affected Nothing in subsection (a) shall affect the eligibility of a Member to participate in the Thrift Savings Plan in accordance with otherwise applicable provisions of law. (d) Regulations Any regulations necessary to carry out this section may— (1) be prescribed by the Director of the Office of Personnel Management, except with respect to matters under paragraph (2); and (2) with respect to matters relating to the Thrift Savings Plan, be prescribed by the Executive Director (as defined by section 8401(13)). . (b) Clerical amendment The table of sections of chapter 84 8425a. Termination of further retirement coverage of Members of Congress. .

Summary: Amends the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS) to exclude Members of Congress from further CSRS and FERS retirement coverage. Prohibits further government contributions or deductions from such Member's basic pay for deposit in the Treasury to the credit of the Civil Service Retirement and Disability Fund. States that nothing in this Act shall: (1) be considered to nullify, modify, or otherwise affect any right, entitlement, or benefit under CSRS or FERS for any Member covering any period before the first day of the first Congress beginning after enactment of this Act; or (2) affect the eligibility of a Member to participate in the Thrift Savings Plan (TSP) in accordance with otherwise applicable law.