Federal Employee Phased Retirement Act

Bill: 112-hr-4363
Sponsor: Rep. Issa, Darrell E. [R-CA-49]
Introduced: 2012-04-17 in the House
Policy area: Government Operations and Politics
Subjects: Administrative law and regulatory procedures
Government employee pay, benefits, personnel management
Office of Personnel Management (OPM)

Summary:
action_date: 2012-04-17
text: 
Federal Employee Phased Retirement Act - Allows a retirement-eligible federal employee, with the concurrence of the head of the employing agency, to make a one-time election to enter phased retirement status under which such employee shall be appointed to a position for which the working percentage (the number of hours worked by such employee per pay period divided by the number of hours worked by a full-time employee in a comparable position) is 50%. Authorizes the Director of the Office of Personnel Management (OPM) to provide for a different working percentage which shall not be less than 20% or more than 80%. 
 
Imposes certain requirements for and limitations on the employment of such a phased retiree, including that such retiree: (1) must have been employed on a full-time basis for not less than the three-year period ending on the date of an election under this Act; (2) may not be employed in more than one position at any time, but may transfer to another position in the same or different agency; and (3) must devote not less than 20% of working hours to mentoring other employees.
 
Sets forth rules for the computation of: (1) a phased retirement annuity, which shall be paid in addition to the basic pay for the position to which a phased retiree is appointed; and (2) a composite annuity, which a phased retiree shall be entitled to receive upon electing to enter full retirement status.

action_date: 2012-06-15
text: 
Federal Employee Phased Retirement Act - Allows a retirement-eligible federal employee under the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS), with the concurrence of the head of the employing agency, to make a one-time election to enter phased retirement status under which such employee shall be appointed to a position for which the working percentage (the number of hours worked by such employee per pay period divided by the number of hours worked by a full-time employee in a comparable position) is 50%. Authorizes the Director of the Office of Personnel Management (OPM) to provide for a different working percentage which shall not be less than 20% or more than 80%. Denies eligibility for any employee after the date such employee is required to be separated from service under mandatory retirement provisions. 
 
Imposes certain requirements for and limitations on the employment of such a phased retiree, including that such retiree: (1) must have been employed on a full-time basis for not less than the three-year period ending on the date of an election under this Act; (2) may not be employed in more than one position at any time, but may transfer to another position in the same or different agency; and (3) must spend not less than 20% of working hours mentoring other employees. 
 
Sets forth rules for the computation of: (1) a phased retirement annuity, which shall be paid in addition to the basic pay for the position to which a phased retiree is appointed; and (2) a composite annuity, which a phased retiree shall be entitled to receive upon electing to enter full retirement status. 
 
Authorizes a phased retiree: (1) with the concurrence of the head of the employing agency, to elect to terminate phased retirement status and return to a full-time work schedule; or (2) elect to enter full retirement status at any time.
 
Allows a phased retiree under CSRS or FERS who has completed at least one year of service as such a retiree to contribute to a Thrift Savings Fund account any part of any payment received as accumulated and current accrued annual or vacation leave.


Legislative actions:
action_date: 2012-06-15
text: Placed on the Union Calendar, Calendar No. 383.
action_date: 2012-06-15
text: Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 112-535.
action_date: 2012-06-15
text: Reported (Amended) by the Committee on Oversight and Government Reform. H. Rept. 112-535.
action_date: 2012-04-18
text: Ordered to be Reported (Amended).
action_date: 2012-04-18
text: Committee Consideration and Mark-up Session Held.
action_date: 2012-04-17
text: Referred to the House Committee on Oversight and Government Reform.
action_date: 2012-04-17
text: Introduced in House
action_date: 2012-04-17
text: Introduced in House