FERS Federal Deposit Insurance Corporation Buyback Act of 2001

Summary

FERS Federal Deposit Insurance Corporation Buyback Act of 2001 - Includes service as a temporary or intermittent Federal Deposit Insurance Corporation employee of at least one year's duration, performed after December 31, 1988 and before January 1, 2001, whether performed over a continuous period or otherwise, as creditable service under the Federal Employees' Retirement System (FERS), but only if such employee later becomes subject to FERS and such service is not credited for purposes of any benefit under any other retirement system established by U.S. law (disregarding the Social Security Act and provisions of the Civil Service Retirement System (CSRS)). Requires such employee to deposit to the credit of the Civil Service Retirement and Disability Fund an amount equal to 1.3 percent of basic pay for such service. Requires any deposit made more than five years after the later of October 1, 2001, or the date on which the employee first becomes a Federal employee following the period of temporary or intermittent FDIC service to include interest. Directs the Office of Personnel Management to prescribe regulations for crediting such service to an individual who has separated from the Government. Requires recomputation of an annuity or a survivor annuity to take into account such service.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 April 2001

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• Introduced in House (PDF)

  Introduced in House · EN · 25 April 2001

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• Introduced in House

  summary · EN · 25 April 2001

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