instruction:
In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
question:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Charitable Giving 
Protection Act of 1995''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
               TITLE I--AMENDMENTS TO THE SECURITIES LAWS

Sec. 101. Amendment to the Investment Company Act of 1940.
Sec. 102. Amendment to the Securities Act of 1933.
Sec. 103. Amendments to the Securities Exchange Act of 1934.
Sec. 104. Amendment of the Investment Advisers Act of 1940.
Sec. 105. Effective dates and applicability.
               TITLE II--CLARIFICATION OF ANTITRUST LAWS

Sec. 201. Exemption from antitrust laws.
Sec. 202. Effective date and applicability.
SEC. 2. FINDINGS.

    The Congress finds that--
            (1) charities have served a unique and essential role in 
        meeting the needs of the American people;
            (2) charities have healed the sick, fed the hungry, 
        sheltered the needy, and educated our children;
            (3) in order to ensure that charities can continue to meet 
        the needs of the American people, the Federal Government should 
        do everything possible to encourage charitable giving;
            (4) charities should be able to raise funds and invest 
        funds, both on their own and collectively with other charities, 
        without excessive Government intervention or unnecessary legal 
        or regulatory requirements;
            (5) the Congress, in passing the Technical Corrections Act 
        of 1988, differentiated between charitable gift annuities and 
        annuities issued by commercial organizations for profit; and
            (6) unlike commercial annuities, charitable gift annuities 
        are not issued for profit, and their issuance, maintenance, and 
        investment by charities is not subject to the anticompetitive 
        prohibitions of the Federal antitrust laws.

               TITLE I--AMENDMENTS TO THE SECURITIES LAWS

SEC. 101. AMENDMENT TO THE INVESTMENT COMPANY ACT OF 1940.

    Section 3(c) of the Investment Company Act of 1940 (15 U.S.C. 80a-
3(c)) is amended by inserting after paragraph (6) the following new 
paragraph:
            ``(7)(A) Subject to subparagraph (B), a pooled income fund, 
        or any collective trust fund, collective investment fund, or 
        similar fund maintained by a charitable organization 
        exclusively for the collective investment and reinvestment of--
                    ``(i) the general endowment fund or other funds of 
                one or more charitable organizations;
                    ``(ii) assets of a pooled income fund;
                    ``(iii) assets contributed to a charitable 
                organization in exchange for the issuance of charitable 
                gift annuities;
                    ``(iv) assets of a charitable remainder trust or of 
                any other trust, the remainder interests of which are 
                irrevocably dedicated to any charitable organization;
                    ``(v) assets of a charitable lead trust; or
                    ``(vi) assets of a trust not described in clauses 
                (i) through (v), the remainder interests of which are 
                revocably dedicated to a charitable organization.
            ``(B) A fund described in subparagraph (A), and any 
        charitable organization that maintains such a fund, shall be 
        excluded from treatment as an investment company in accordance 
        with this subsection only if--
                    ``(i) each contributor to a pooled income fund and 
                each settlor of a trust described in clause (iv), (v), 
                or (vi) of subparagraph (A) is provided with written 
                information describing the material terms of the 
                instruments governing the operation of the pooled 
                income fund, in the case of a contributor to such fund, 
                or of the fund in which any assets of such pooled 
                income fund or such a trust are invested, by the later 
                of June 30, 1996, or the date of investment in such 
                fund; and
                    ``(ii) each person soliciting gifts, as described 
                in subparagraph (A), that will be administered in any 
                collective trust fund, collective investment fund, or 
                similar fund maintained by a charitable organization is 
                either a volunteer or is employed in the overall 
                fundraising activities of a charitable organization and 
                receives no commissions or other special compensation 
                based on the amount of gifts transferred to such fund.
            ``(C) The exemption provided by subparagraph (A)(vi) shall 
        terminate on December 31, 1998.
            ``(D) For purposes of this paragraph--
                    ``(i) a trust or fund is `maintained' by a 
                charitable organization that serves as a trustee or 
                administrator of the trust or fund or that has the 
                power to remove the trustees or administrators of the 
                trust or fund and to designate new trustees or 
                administrators;
                    ``(ii) the term `pooled income fund' has the same 
                meaning as in section 642(c)(5) of the Internal Revenue 
                Code of 1986;
                    ``(iii) the term `charitable organization' means an 
                organization described in paragraphs (1) through (5) of 
                section 170(c) or section 501(c)(3) of the Internal 
                Revenue Code of 1986;
                    ``(iv) the term `charitable lead trust' means a 
                trust described in section 170(f)(2)(B), 2055(e)(2)(B), 
                or 2522(c)(2)(B) of the Internal Revenue Code of 1986;
                    ``(v) the term `charitable remainder trust' means a 
                charitable remainder annuity trust or a charitable 
                remainder unitrust, as those terms are defined in 
                section 664(d) of the Internal Revenue Code of 1986; 
                and
                    ``(vi) the term `charitable gift annuity' means an 
                annuity issued by a charitable organization that is 
                described in section 501(m)(5) of the Internal Revenue 
                Code of 1986.''.

SEC. 102. AMENDMENT TO THE SECURITIES ACT OF 1933.

    Section 3(a) of the Securities Act of 1933 (15 U.S.C. 77c(a)) is 
amended by adding at the end the following new paragraph:
            ``(13) Any security issued by or any interest or 
        participation in any pooled income fund, collective trust fund, 
        collective investment fund, or similar fund that is deemed not 
        to be an investment company under section 3(c)(7) of the 
        Investment Company Act of 1940.''.
SEC. 103. AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.

    (a) Exempted Securities.--Section 3(a)(12)(A) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78c(a)(12)(A)) is amended--
            (1) in clause (iv) by striking ``and'' at the end;
            (2) by redesignating clause (v) as clause (vi); and
            (3) by inserting after clause (iv) the following new 
        clause:
                            ``(v) any security issued by or any 
                        interest or participation in any pooled income 
                        fund, collective trust fund, collective 
                        investment fund, or similar fund that is deemed 
                        not to be an investment company under section 
                        3(c)(7) of the Investment Company Act of 1940; 
                        and''.
    (b) Exemption From Broker-Dealer Provisions.--Section 3(a) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78c(c)) is amended by adding 
at the end the following new paragraph:
            ``(54) Charitable organizations.--Notwithstanding any other 
        provision of this title, a charitable organization, as defined 
        in section 3(c)(7) of the Investment Company Act of 1940, or 
        any trust- 
        ee, director, officer, employee, or volunteer of such a 
        charitable organization acting within the scope of such 
        person's employment or duties, shall not be deemed to be a 
        `broker', `dealer', `municipal securities broker', `municipal 
        securities dealer', `government securities broker', or 
        `government securities dealer' for purposes of this title 
        solely because such organization or person buys, holds, sells, 
        or trades in securities for its own account in its capacity as 
        trustee or administrator of, or otherwise on behalf of or for 
        the account of--
                    ``(A) such a charitable organization;
                    ``(B) a fund that is exempt from the provisions of 
                the Investment Company Act of 1940 under section 
                3(c)(7) of that Act; or
                    ``(C) a trust or other donative instrument, the 
                assets of which may be contributed to or invested in 
                such funds in accordance with section 3(c)(7) of the 
                Investment Company Act of 1940, or the settlors (or 
                potential settlors) or beneficiaries of any such trust 
                or other instrument.''.

SEC. 104. AMENDMENT OF THE INVESTMENT ADVISERS ACT OF 1940.

    Section 202(a)(11) of the Investment Advisers Act of 1940 (15 
U.S.C. 80b-2(a)(11)) is amended--
            (1) by striking ``does not include (A) a bank'' and 
        inserting ``does not include--
                    ``(A) a bank'';
            (2) by striking ``(B) any lawyer'' and inserting the 
        following:
                    ``(B) any lawyer'';
            (3) by striking ``(C) any broker'' and inserting the 
        following:
                    ``(C) any broker'';
            (4) by striking ``(D) the publisher'' and inserting the 
        following:
                    ``(D) the publisher'';
            (5) by striking ``(E) any person'' and inserting the 
        following:
                    ``(E) any person'';
            (6) by striking ``or (F) such other'' and inserting the 
        following:
                    ``(G) such other''; and
            (7) by inserting after subparagraph (E) the following new 
        subparagraph:
                    ``(F) any charitable organization, as defined in 
                section 3(c)(7) of the Investment Company Act of 1940, 
                or any trustee, director, officer, employee, or 
                volunteer of such a charitable organization acting 
                within the scope of the employment or duties of such 
                person, whose advice, analyses, or reports are provided 
                only to--
                            ``(i) any such charitable organization;
                            ``(ii) a fund that is exempt from the 
                        Investment Company Act of 1940 under section 
                        3(c)(7) of that Act, or the trustees or 
                        administrators of such fund; or
                            ``(iii) a trust or other donative 
                        instrument, the assets of which may be 
                        contributed to or invested in such fund in 
                        accordance with section 3(c)(7) of the 
                        Investment Company Act of 1940, or the 
                        trustees, administrators, settlors (or 
                        potential settlors), or beneficiaries of any 
                        such trust or other instrument; or''.

SEC. 105. EFFECTIVE DATES AND APPLICABILITY.

    This title and the amendments made by this title shall apply in all 
administrative and judicial actions pending on or commenced after the 
date of enactment of this Act, as a defense to any claim that any 
person, security, interest, or participation of the type described in 
this title and the amendments made by this title is subject to the
 provisions of the Securities Act of 1933, the Securities Exchange Act 
of 1934, the Investment Company Act of 1940, or the Investment Advisers 
Act of 1940, except as otherwise specifically provided in those Acts.

SEC. 106. PREEMPTION OF STATE LAW.

    (a) Registration Requirements.--A security issued by or any 
interest or participation in any pooled income fund, collective trust 
fund, collective investment fund, or similar fund that is exempt from 
the Investment Company Act of 1940 under section 3(c)(7) of that Act, 
and the offer or sale thereof, shall be exempt from any law of a State 
that requires registration or qualification of securities.
    (b) Treatment of Charitable Organizations.--No charitable 
organization, or any trustee, director, officer, employee, or volunteer 
of a charitable organization acting within the scope of such person's 
employment or duties, shall be required to register as, or be subject 
to regulation as, a dealer, broker, agent, or investment adviser under 
the laws of any State solely because such organization or person buys, 
holds, sells, or trades in securities for its own account in its 
capacity as trustee or administrator of, or otherwise on behalf of or 
for the account of--
            (1) a charitable organization;
            (2) a fund that is exempt from the Investment Company Act 
        of 1940 under section 3(c)(7) of that Act; or
            (3) a trust or other donative instrument, the assets of 
        which may be contributed to or invested in such funds in 
        accordance with section 3(c)(7) of the Investment Company Act 
        of 1940, or the settlors (or potential settlors) or 
        beneficiaries of any such trusts or other instruments.
    (c) State Action.--Notwithstanding subsections (a) and (b), during 
the 3-year period beginning on the date of enactment of this Act, a 
State may enact a statute that specifically refers to this section and 
provides prospectively that this section shall not preempt the laws of 
that State referred to in this section.
    (d) Definitions.--For purposes of this section--
            (1) the term ``charitable organization'' means an 
        organization described in paragraphs (1) through (5) of section 
        170(c) or section 501(c)(3) of the Internal Revenue Code of 
        1986;
            (2) the term ``security'' has the same meaning as in 
        section 3 of the Securities Exchange Act of 1934; and
            (3) the term ``State'' means each of the several States of 
        the United States, the District of Columbia, the Commonwealth 
        of Puerto Rico, the Virgin Islands, Guam, American Samoa, and 
        the Commonwealth of the Northern Mariana Islands.

               TITLE II--CLARIFICATION OF ANTITRUST LAWS

SEC. 201. EXEMPTION FROM ANTITRUST LAWS.

    (a) In General.--The activities of a charitable organization 
relating to the issuance, maintenance, or investment of a charitable 
gift annuity are exempt from the application of the antitrust laws.
    (b) Definitions.--For purposes of this section--
            (1) the term ``antitrust laws'' means--
                    (A) the Sherman Act (15 U.S.C. 1 et seq.);
                    (B) the Clayton Act (15 U.S.C. 12 et seq.);
                    (C) the Federal Trade Commission Act (15 U.S.C. 41 
                et seq.); and
                    (D) any State law that is similar to the Acts 
                referred to in subparagraphs (A) through (C).
            (2) the term ``charitable organization'' means an 
        organization described in paragraphs (1) through (5) of section 
        170(c) or section 501(c)(3) of the Internal Revenue Code of 
        1986;
            (3) the term ``charitable gift annuity'' means an annuity 
        issued by a charitable organization that is described in 
        section 501(m)(5) of the Internal Revenue Code of 1986; and
            (4) the term ``State'' means each of the several States of 
        the United States, the District of Columbia, the Commonwealth 
        of Puerto Rico, the Virgin Islands, Guam, American Samoa, and 
        the Commonwealth of the Northern Mariana Islands.
    (c) State Action.--Notwithstanding subsections (a) and (b), during 
the 3-year period beginning on the date of enactment of this Act, a 
State may enact a statute that specifically refers to this section and 
provides prospectively that this section shall not preempt the laws of 
that State referred to in this section.

SEC. 202. EFFECTIVE DATE AND APPLICABILITY.

    The exemption provided for in section 201 shall apply in any 
judicial or administrative action pending on or commenced after the 
date of enactment of this Act and shall serve as a defense to any claim 
that the sale or issuance of a charitable gift annuity is subject to 
any provision of antitrust laws.
answer:
TABLE OF CONTENTS: 
     Title I:  Amendments to the Securities Laws 
     Title II:  Clarification of Antitrust Laws 
Charitable Giving Protection Act of 1995 - 
Title I:  Amendments to the Securities Laws
 - Exempts from the jurisdiction of the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 any security issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund, or similar fund deemed not to be an investment company under the Investment Company Act of 1940 (charitable gift annuities). 
Preempts State law to extend the charitable gift annuities exemption from its jurisdiction over:  (1) securities registration or qualification requirements; and (2) any charitable organization regulation. 
Permits a State to enact a statute that specifically refers to this Act and provides prospectively that it does not preempt its laws. 
Title II:  Clarification of Antitrust Laws
 - Exempts charitable gift annuities from application of the antitrust laws.


question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Trade Complaint and Litigation 
Accountability Improvement Measures Act'' or the ``Trade CLAIM Act''.

SEC. 2. REVIEW OF DETERMINATIONS OF THE UNITED STATES TRADE 
              REPRESENTATIVE BY THE COURT OF INTERNATIONAL TRADE.

    Section 1581 of title 28, United States Code, is amended--
            (1) in subsection (i)--
                    (A) in the matter preceding paragraph (1), by 
                striking ``subsections (a)-(h)'' and inserting 
                ``subsections (a)-(h) and (k)''; and
                    (B) in paragraph (4), by striking ``subsections 
                (a)-(h)'' and inserting ``subsections (a)-(h) and 
                (k)''; and
            (2) by adding at the end the following:
    ``(k) The Court of International Trade shall have exclusive 
jurisdiction of any civil action commenced by a petitioner requesting 
that the United States Trade Representative take action under section 
301 of the Trade Act of 1974 (19 U.S.C. 2411) to review de novo any 
determination, finding, or action of the United States Trade 
Representative under section 301(a), 302(a)(2), 304(a)(1), 
305(a)(2)(A)(ii), 306(b), or 307(a)(1) of the Trade Act of 1974 (19 
U.S.C. 2411(a), 2412(a)(2), 2414(a)(1), 2415(a)(2)(A)(ii), 2416(b), and 
2417(a)(1)).''.

SEC. 3. CONSIDERATION BY THE UNITED STATES TRADE REPRESENTATIVE OF 
              PETITIONS TO ENFORCE UNITED STATES TRADE RIGHTS.

    (a) Actions by United States Trade Representative.--Section 301 of 
the Trade Act of 1974 (19 U.S.C. 2411) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1) in the flush text at the end, 
                by striking ``, subject to the specific direction, if 
                any, of the President regarding any such action,''; and
                    (B) in paragraph (2)--
                            (i) in the matter preceding subparagraph 
                        (A), by striking ``in any case in which'' and 
                        inserting ``if'';
                            (ii) in subparagraph (A)(ii)(II), by 
                        striking ``; or'' and inserting a semicolon; 
                        and
                            (iii) by striking subparagraph (B) and 
                        inserting the following:
                    ``(B) the foreign country has--
                            ``(i) agreed to imminently eliminate the 
                        act, policy, or practice, or
                            ``(ii) agreed to a solution to imminently 
                        relieve the burden or restriction on United 
                        States commerce resulting from the act, policy, 
                        or practice;
                    ``(C) the Trade Representative finds that it is 
                impossible for the foreign country to achieve the 
                results described in subparagraph (B), but the foreign 
                country agrees to provide to the United States 
                compensatory trade benefits that are equivalent in 
                value to the burden or restriction on United States 
                commerce resulting from the acts, policy, or practice;
                    ``(D) in extraordinary cases, the Trade 
                Representative finds that the taking of action under 
                this subsection would have an adverse impact on the 
                United States economy substantially out of proportion 
                to the benefits of such action, taking into account the 
                impact of not taking such action on the credibility of 
                the provisions of this chapter; or
                    ``(E) the Trade Representative finds that the 
                taking of action under this subsection would cause 
                serious harm to the national security of the United 
                States.''; and
            (2) in subsection (c)(1)(D)--
                    (A) by amending clauses (i) and (ii) to read as 
                follows:
                            ``(i) imminently eliminate the act, policy, 
                        or practice that is the subject of the action 
                        to be taken under subsection (a) or (b),
                            ``(ii) imminently relieve the burden or 
                        restriction on United States commerce resulting 
                        from the act, policy, or practice, or''; and
                    (B) by amending subclause (I) of clause (iii) to 
                read as follows:
                                    ``(I) are equivalent in value to 
                                the burden or restriction on United 
                                States commerce resulting from the act, 
                                policy, or practice, and''.
    (b) Initiation of Investigations.--Section 302 of the Trade Act of 
1974 (19 U.S.C. 2412) is amended--
            (1) in subsection (a)(2), by striking the period and 
        inserting ``based on whether the petitioner has alleged facts 
        that, if assumed to be true, would meet the criteria set forth 
        in section 301(a)(1).''; and
            (2) in subsection (c), by striking ``(a) or''.
    (c) Consultations.--Section 303 of the Trade Act of 1974 (19 U.S.C. 
2413) is amended--
            (1) in subsection (a)(2), by striking ``mutually acceptable 
        resolution'' and inserting ``resolution acceptable to the Trade 
        Representative, the foreign country, and the petitioner (if 
        any)''; and
            (2) in subsection (b)(1)(A), by striking ``after consulting 
        with'' and inserting ``with the consent of''.
    (d) Implementation of Actions.--Section 305(a)(1) of the Trade Act 
of 1974 (19 U.S.C. 2415(a)(1)) is amended by striking ``, subject to 
the specific direction, if any, of the President regarding any such 
action,''.
    (e) Monitoring of Foreign Compliance.--Section 306(b) of the Trade 
Act of 1974 (19 U.S.C. 2416(b)) is amended--
            (1) in paragraph (1), by striking ``the Trade 
        Representative considers'' and inserting ``the Trade 
        Representative or the petitioner (if any) considers''; and
            (2) in paragraph (2)(A), by striking ``the Trade 
        Representative considers'' and inserting ``the Trade 
        Representative or the petitioner (if any) considers''.
    (f) Modification and Termination of Action.--Section 307(a)(1) of 
the Trade Act of 1974 (19 U.S.C. 2417(a)(1)) is amended by striking ``, 
subject to the specific direction, if any, of the President with 
respect to such action,''.
answer:
Trade Complaint and Litigation Accountability Improvement Measures Act or the Trade CLAIM Act - Amends the federal judicial code to grant the Court of International Trade exclusive jurisdiction of any civil action commenced by a petitioner requesting de novo review of a U.S. Trade Representative (USTR) decision concerning the enforcement of U.S. trade rights.

Amends the Trade Act of 1974 to revise requirements concerning the enforcement of U.S. trade rights with respect to presidential authority and the responsibility of the USTR.

Permits the USTR to take further action to enforce U.S. rights, based on the USTR's monitoring, when a petitioner considers that the actions of a foreign country in implementing a measure have not been satisfactory.


question:
SECTION 1. REFERENCE.

    Whenever in this Act a section or other provision is amended or 
repealed, such amendment or repeal shall be considered to be made to 
that section or other provision of title 5, United States Code.

SEC. 2. EQUAL TREATMENT OF MEMBERS OF CONGRESS WITH FEDERAL EMPLOYEES 
              GENERALLY UNDER CSRS.

    (a) Creditable Service.--Section 8332 is amended by striking out 
subsections (d) and (h).
    (b) Deductions, Contributions, and Deposits.--Section 8334 is 
amended--
            (1) in paragraph (1), by amending the first sentence to 
        read as follows: ``The employing agency shall deduct and 
        withhold 7 percent of the basic pay of a employee or Member, 
        7\1/2\ percent of the basic pay of a law enforcement officer 
        and a firefighter, and 8 percent of the basic pay of a Claims 
        Court judge, a United States magistrate, a judge of the United 
        States Court of Military Appeals, and a bankruptcy judge.''; 
        and
            (2) in the table contained in subsection (c), by amending 
        the items relating to Member or employee for congressional 
        employee service and Member for Member service to read as 
        follows:


Member or employee for                August 1, 1920, to June 30, 1926. 
 congressional                                                          
 employee service.....  2\1/2\......                                    
                        3\1/2\......  July 1, 1926, to June 30, 1942.   
                        5...........  July 1, 1942, to June 30, 1948.   
                        6...........  July 1, 1948, to October 31, 1956.
                        6\1/2\......  November 1, 1956, to December 31, 
                                       1969.                            
                        7\1/2\......  December 31, 1969, to December 31,
                                       1994.                            
                        7...........  After December 31, 1994.          
Member for Member       2\1/2\......  August 1, 1920, to June 30, 1926. 
 service.                                                               
                        3\1/2\......  July 1, 1926, to June 30, 1942.   
                        5...........  July 1, 1942, to August 1, 1946.  
                        6...........  August 2, 1946, to October 31,    
                                       1956.                            
                        7\1/2\......  November 1, 1956, to December 31, 
                                       1969.                            
                        8...........  December 31, 1969, to December 31,
                                       1994.                            
                        7...........  After December 31, 1994.          
                                                                        

    (c) Immediate Retirement.--Section 8336 is amended--
          (1) by striking out subsection (g); and
            (2) in subsections (a), (b), and (f), by inserting ``or 
        Member'' after ``employee'' each place it occurs.
    (d) Deferred Retirement.--Section 8338 is amended by striking out 
subsection (b).
    (e) Computation of Annuity.--Section 8339 is amended--
            (1) by striking out subsections (b) and (c);
            (2) in subsection (f), by striking out ``of--'' and all 
        that follows through the end thereof and inserting in lieu 
        thereof ``of the average pay of the employee or Member.'';
            (3) in subsection (h), by striking out the second sentence; 
        and
            (4) in subsection (j)--
                    (A) by striking out paragraph (2); and
                    (B) in paragraph (4), by striking out ``(f), and 
                (h)'' and inserting in lieu thereof ``and (f)''.
    (f) Survivor Annuity.--Section 8341 is amended by striking out 
subsection (f).
    (g) Annuities and Pay on Reemployment.--Section 8344 is amended--
            (1) in subsection (a)--
                    (A) by inserting ``or'' at the end of paragraph 
                (2);
                    (B) by striking out ``or'' at the end of paragraph 
                (3);
                    (C) by striking out paragraph (4); and
                    (D) by inserting ``or Member'' after ``employee'';
            (2) in subsection (b), by striking out ``, other than a 
        Member receiving an annuity from the fund,'';
            (3) in subsection (c), by striking out ``, other than a 
        Member receiving an annuity from the fund,''; and
            (4) by striking out subsection (d).

SEC. 3. EQUAL TREATMENT OF MEMBERS OF CONGRESS WITH FEDERAL EMPLOYEES 
              GENERALLY UNDER FERS.

    (a) Immediate Retirement.--Section 8412 is amended by striking out 
subsection (f).
    (b) Computation of Basic Annuity.--Section 8415 is amended--
            (1) in subsections (a) and (e), by inserting ``or Member'' 
        after ``employee'' each place it occurs;
            (2) by striking out subsections (b) and (c);
            (3) in subsection (f)(2)(A), by striking out ``(e)(2), or 
        (f)(2),'' and inserting in lieu thereof ``(e)(2),''; and
            (4) in the matter after subparagraph (B) in subsection 
        (g)(2), by striking out ``Congressional employee,''.
    (c) Annuity Supplement.--Section 8421(a)(2) is amended by striking 
out ``section 8412(f), or under''.
    (d) Deductions From Pay; Contributions for Military Service.--
Section 8422 is amended--
            (1) in subsection (a)(2)(A)--
                    (A) by inserting ``or Member'' after ``employee''; 
                and
                    (B) by striking out ``, or Congressional 
                employee''; and
            (2) in subsection (a)(2)(B), by striking out ``Member'' and 
        ``or Congressional employee,''.
    (e) Government Contributions.--Section 8423(a)(1) is amended--
            (1) in subparagraph (A)(i), by inserting ``or Members'' 
        after ``employees'' the first place it appears; and
            (2) in subparagraph (B)--
                    (A) by striking out ``Members, Congressional 
                employees,'' in clause (i); and
                    (B) by striking out ``and Members'' in clause (ii).

SEC. 4. EFFECTIVE DATE.

    (a) In General.--This Act shall take effect on January 1, 1995.
    (b) Application to Periods of Service Before and After Effective 
Date.--
            (1) Service after december 31, 1994.--The amendments made 
        by this Act shall apply with respect to an individual serving 
        as a Member of Congress or a congressional employee after 
        December 31, 1994.
            (2) Service before january 1, 1995.--The portion of any 
        annuity under chapter 83 or chapter 84, as the case may be, of 
        title 5, United States Code, relating to a period of service of 
        an individual serving as a Member of Congress or a 
        congressional employee that occurs before January 1, 1995, 
        shall be determined under either such chapter as such chapters 
        were in effect on December 31, 1994.
            (3) Election to treat service under reformed system.--A 
        Member of Congress or a congressional employee may make an 
        irrevocable election to treat service creditable under chapter 
        83 or chapter 84, as applicable, of title 5, United States 
        Code, before January 1, 1995, as service under the applicable 
        chapter as if the amendments made by this Act were in effect 
        during such creditable service.
            (4) Member of congress and congressional employee 
        defined.--For the purposes of this section, the terms ``Member 
        of Congress'' and ``congressional employee'' have the meaning 
        given such terms in sections 2106 and 2107 of title 5, United 
        States Code, respectively.
answer:

Amends Federal civil service retirement provisions to remove specified provisions regarding creditable service for Members of Congress. 
Provides for the deduction and withholding of seven (currently, eight) percent of the basic pay of a Member of Congress, thus making such deduction and withholding equivalent to that of a Federal employee. 
Removes provisions regarding eligibility for annuities for Members of Congress and makes annuity eligibility requirements for Federal employees applicable to Members. 
Repeals provisions regarding:  (1) deferred retirement with respect to Members; and (2) the computation of annuities for congressional employees and Members. 
Prohibits such annuities from exceeding 80 percent of the average pay of an employee or Member (thus, making the computation of a Member's annuity conform to that of a Federal employee). 
Removes provisions regarding survivor annuities, annuities and pay on reemployment, and immediate retirement with respect to Members. 
Makes the computation of a basic annuity, deductions from pay, and Government contributions for Members conform to requirements for Federal employees. 
Applies this Act to congressional employees as well.