Agricultural Extended Retirement Credit Act of 2002

Summary

Agricultural Extended Retirement Credit Act of 2002 - Extends creditable service under the Civil Service Retirement System for periods of service in certain Federal-State cooperative programs which had agricultural or related purposes. Requires the Office of Personnel Management (OPM) to promulgate specific extended credit application and certification instructions to be followed by the Secretary of Agriculture in determining eligibility for extended credit for such periods of service, and by individuals in making application for such extended credit. Provides for appropriate annuity adjustments upon certification by the Secretary to the Office of Personnel Management (OPM) in response to annuitant applications. Directs the Secretary to transfer to the expedited retirement trust fund an amount equal to the expedited retirement savings realized by individuals receiving extended retirement credit under this Act. Prohibits the obligation or expenditure of any budget authority or outlays saved in any fiscal year by reason of implementation of this Act. Requires transfer to the Department's surplus fund of the savings resulting from the expedited retirement of those employees of the Department who have been extended such credit. Requires the surplus budget authority and outlays so transferred to be: (1) deposited by the Secretary in the Treasury to the credit of the Civil Service Retirement and Disability Fund, as a Government contribution; and (2) credited against pay and other personnel costs required to be sequestered under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Requires the Comptroller General to notify the Congress of each instance of noncompliance with such requirements. Directs the OPM Director to report to the Congress an evaluation of the expedited retirement savings program.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 September 2002

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• Introduced in House (PDF)

  Introduced in House · EN · 5 September 2002

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• Introduced in House

  summary · EN · 5 September 2002

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