Federal Employee Phased Retirement Act

Summary

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.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 15 June 2012

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• Reported in House (PDF)

  Reported in House · EN · 15 June 2012

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• Reported to House with amendment(s)

  summary · EN · 15 June 2012

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• Introduced in House (text)

  Introduced in House · EN · 17 April 2012

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• Introduced in House (PDF)

  Introduced in House · EN · 17 April 2012

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• Introduced in House

  summary · EN · 17 April 2012

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