A bill to amend title 5, United States Code, to provide that annuities under chapter 83 or 84 of such title be treated, for Federal income tax purposes, as if the 3-year basis recovery rule had never been repealed; and to require that the Office of Personnel Management conduct a study relating to the consequences which retroactively repealing such rule would have with respect to Federal personnel management, morale within the Federal civilian workforce, and individual retirement planning.

Summary

Provides for the continuation of the three-year income tax basis recovery rule with respect to annuities of Federal employee contributions to Federal retirement systems. Directs the Office of Personnel Management to report to specified congressional committees on the effects of a retroactive repeal of such rule on the Federal workforce.

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• Introduced in House

  summary · EN · 25 September 1986

  Open at official source

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