Section 1 Short title
This Act may be cited as the “Public-Private Employee Retirement Parity Act”.
Public-Private Employee Retirement Parity Act
A BILL
To amend subchapter II of chapter 84 of title 5, United States Code, to prohibit coverage for annuity purposes for new Federal employees, and for other purposes.
Sec. 2 Termination of annuities under the Federal Employees Retirement System
Creditable service— Section 8411 of title 5, United States Code, is amended—
in subsection (b)(1), by inserting “except as provided under subsection (m),” after “(1)”; and
by adding at the end the following:
“(m) Notwithstanding any other provision of this section, any period of service performed by an employee or Member on or after the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act shall not be creditable service for purposes of this subchapter, if that employee or Member did not perform any period of creditable service under this section before the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act (including any military service creditable under subsection (c)).”
Employee contributions— Section 8422 of title 5, United States Code, is amended—
in subsection (a)(1), by striking “The” and inserting “Except as provided under subsection (j), the”; and
by adding at the end the following:
“(j) Notwithstanding any other provision of this section, an employing agency shall not make any deduction or withholding under this section from the basic pay of any employee or Member for any period of service performed on or after the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act, if that period of service is not creditable service under section 8411(m).”
Agency contributions— Section 8423 of title 5, United States Code, is amended—
in subsection (a)(1), by striking “Each” and inserting “Except as provided under subsection (d), each”; and
by adding at the end the following:
“(d) Notwithstanding any other provision of this section, an employing agency shall not make any contribution under this section for any employee or Member for any period of service performed on or after the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act, if that period of service is not creditable service under section 8411(m).”
Limitation on credit for military service—
in paragraph (1), by striking “paragraphs (2), (3), and (5)” and inserting “paragraphs (2), (3), (5), and (6)”; and
by adding at the end the following:
“(6) Notwithstanding any other provision of this subsection, any period of military service performed on or after the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act shall not be allowed credit under this subchapter, if the employee or Member did not perform any period of creditable service under this section before the date that is 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act.”
Contributions— Section 8422(e)(1)(A) of title 5, United States Code, is amended by striking “Except as provided in subparagraph (B), and subject to paragraph (6),” and inserting “Except as provided under section 8411(c)(6) and subparagraph (B) of this paragraph, and subject to paragraph (6) of this subsection,”.
Sec. 3 Reporting regarding CSRDF
In general— Section 8347(f) of title 5, United States Code, is amended by striking “The Board shall report annually on the actuarial status of the System” and inserting “Not later than 6 months after the date of enactment of the Public-Private Employee Retirement Parity Act, and every year thereafter, the Board shall issue an annual report, including making the report available online, on the actuarial status of the System and the Federal Employees Retirement System under chapter 84”.
Availability of previous reports— The Board of Actuaries of the Civil Service Retirement System shall make available online all reports under section 8347(f) prepared on or after June 6, 1986.