A bill to amend title 5 of the United States Code to insure that Civil Service retirees do not receive annuities which are in excess of the salaries received by individuals working on the positions from which the retirees were retired.

Summary

Limits the amount to which an annuity of a civil service retiree may be increased as a result of any cost-of-living adjustment. Establishes such maximum amount of an annuity commenced before March 1, 1981, as the lesser of: (1) the final pay of the employee or Member of Congress increased by the cumulative average increase in rates of pay in the General Schedule; or (2) the rate of pay of a GS-18 of the General Schedule. Sets such maximum amount for an annuity commencing after February 28, 1981, as an amount equal to the product of: (1) the percentage used to compute the original annuity; and (2) the current maximum rate of pay for the highest position held by the employee or Member for at least six months during the period on which his or her average pay is based. Prohibits any reduction in the amount of any annuity payable before enactment of this Act as a result of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 17 June 1981

  Open at official source

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