Title: Voluntary Separation Incentive Payment Adjustment Act of 2017'
Policy area: Government Operations and Politics

Summary:
Voluntary Separation Incentive Payment Adjustment Act of 2017
This bill increases the Voluntary Separation Incentive Payment (VSIP) to not exceed $40,000 (currently, $25,000), with an annual adjustment for inflation.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1888 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1888

To amend title 5, United States Code, to increase the maximum amount of 
   a Voluntary Separation Incentive Payment and to include an annual 
        adjustment in accordance with the Consumer Price Index.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 28, 2017

 Mr. Lankford introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
To amend title 5, United States Code, to increase the maximum amount of 
   a Voluntary Separation Incentive Payment and to include an annual 
        adjustment in accordance with the Consumer Price Index.

    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 ``Voluntary Separation Incentive 
Payment Adjustment Act of 2017''.

SEC. 2. VOLUNTARY SEPARATION INCENTIVE PAY INCREASE.

    (a) In General.--Section 3523 of title 5, United States Code, is 
amended--
            (1) in subsection (b)(3)(B), by striking ``$25,000'' and 
        inserting ``$40,000, as adjusted in accordance with subsection 
        (c)''; and
            (2) by adding at the end the following:
    ``(c) Consumer Price Index Adjustment.--
            ``(1) In general.--On March 1 of each year, the Director of 
        the Office of Personnel Management shall adjust the amount 
        under subsection (b)(3)(B) by the amount determined by the 
        Secretary of Labor to reflect the percentage increase between--
                    ``(A) the Consumer Price Index (all items; United 
                States city average) published for December of the 
                preceding year; and
                    ``(B) the Consumer Price Index (all items; United 
                States city average) published for December of the year 
                before the preceding year.
            ``(2) Rounding.--In making an adjustment under paragraph 
        (1), the Director of the Office of Personnel Management shall--
                    ``(A) round the percentage increase to the nearest 
                \1/10\ of 1 percent; and
                    ``(B) round the amount of the adjustment to the 
                nearest multiple of $1,000.''.
    (b) Department of Defense.--Section 9902(f)(5) of title 5, United 
States Code, is amended--
            (1) in subparagraph (A)(ii), by striking ``$25,000'' and 
        inserting ``an amount determined by the Secretary, not to 
        exceed $40,000, as adjusted in accordance with subparagraph 
        (D)''; and
            (2) by adding at the end the following:
    ``(D)(i) On March 1 of each year, the Secretary of Defense shall 
adjust the amount under subparagraph (A)(ii) by the amount determined 
by the Secretary of Labor to reflect the percentage difference 
between--
            ``(I) the Consumer Price Index (all items; United States 
        city average) published for December of the preceding year; and
            ``(II) the Consumer Price Index (all items; United States 
        city average) published for December of the year before the 
        preceding year.
    ``(ii) In making an adjustment under clause (i), the Secretary of 
Defense shall--
            ``(I) round the percentage increase to the nearest \1/10\ 
        of 1 percent; and
            ``(II) round the amount of the adjustment to the nearest 
        multiple of $1,000.''.
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