EPIC Act
Bill: S.472 | Sponsor: Sen. Braun, Mike (R-IN)
Policy area: Congress

Summary:
End Pensions in Congress Act or the EPIC Act
This bill excludes future Members of Congress from the Federal Employees Retirement System (FERS) and requires Members currently enrolled in FERS or the Civil Service Retirement System to opt in to continue their enrollment.

To amend title 5, United States Code, to provide for the termination of 
 certain retirement benefits for Members of Congress, except the right 
  to continue participating in the Thrift Savings Plan, and for other 
                               purposes.

    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 ``End Pensions in Congress Act'' or 
the ``EPIC Act''.

SEC. 2. AMENDMENTS RELATING TO THE CIVIL SERVICE RETIREMENT SYSTEM.

    (a) In General.--Subchapter III of chapter 83 of title 5, United 
States Code, is amended by inserting after section 8335 the following:
``Sec. 8335A. Termination of further retirement coverage of Members of 
              Congress
    ``(a) In General.--Notwithstanding any other provision of this 
subchapter and subject to subsection (f), effective as of the date of 
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 of any Member with 
respect to any period before the date of enactment of this section.
    ``(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) except with respect to matters under paragraph (2), 
        be prescribed by the Director; and
            ``(2) with respect to matters relating to the Thrift 
        Savings Plan, be prescribed by the Executive Director (as 
        defined under section 8401).
    ``(e) Exclusion.--For purposes of this section, the term `Member' 
does not include the Vice President.
    ``(f) Opt-In.--Not later than 90 days after the date of enactment 
of this section, a Member covered by this subchapter as of such date of 
enactment may elect, by giving notice in writing to the official that 
disburses the pay of such Member, to remain subject to this 
subchapter.''.
    (b) Clerical Amendment.--The table of sections for chapter 83 of 
title 5, United States Code, is amended by inserting after the item 
relating to section 8335 the following:

``8335A. Termination of further retirement coverage of Members of 
                            Congress.''.

SEC. 3. AMENDMENTS RELATING TO THE FEDERAL EMPLOYEES RETIREMENT SYSTEM.

    (a) In General.--Subchapter II of chapter 84 of title 5, United 
States Code, is amended by inserting after section 8425 the following:
``Sec. 8426. Termination of further retirement coverage of Members of 
              Congress
    ``(a) In General.--Notwithstanding any other provision of this 
chapter, effective as of the date of enactment of this section--
            ``(1) in the case of an individual who first becomes a 
        Member before such date of enactment, subject to subsection 
        (f)--
                    ``(A) such Member shall not be subject to this 
                chapter for any further period of time after such date 
                of enactment; 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; and
            ``(2) in the case of an individual who first becomes a 
        Member on or after such date of enactment--
                    ``(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 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 of any Member with respect 
to any period before the date of enactment of this section.
    ``(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.--
            ``(1) In general.--Any regulations necessary to carry out 
        this section may--
                    ``(A) except with respect to matters under 
                subparagraph (B), be prescribed by the Director; and
                    ``(B) with respect to matters relating to the 
                Thrift Savings Plan, be prescribed by the Executive 
                Director.
            ``(2) Refunds.--Notwithstanding subsection (b), the 
        regulations under paragraph (1)(A) shall, in the case of a 
        Member who has not completed at least 5 years of civilian 
        service creditable under section 8411 as of the date of 
        enactment of this section, provide that the lump-sum credit 
        shall be payable to such Member to the same extent and in the 
        same manner as if such Member satisfied paragraphs (1) through 
        (4) of section 8424(a) as of such date of enactment.
    ``(e) Exclusions.--For purposes of this section, the term `Member' 
does not include the Vice President.
    ``(f) Opt-In for Members.--Not later than 90 days after the date of 
enactment of this section, a Member covered by this chapter as of such 
date may elect, by giving notice in writing to the official that 
disburses the pay of such Member, to remain subject to this chapter.''.
    (b) Clerical Amendment.--The table of sections for chapter 84 of 
title 5, United States Code, is amended by inserting after the item 
relating to section 8425 the following:

``8426. Termination of further retirement coverage of Members of 
                            Congress.''.

SEC. 4. CONFORMING AMENDMENT TO TSP.

    Section 8431(a) of title 5, United States Code, is amended by 
inserting ``except as provided in section 8335A(c) and section 
8426(c),'' after ``subchapter,''.
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