Civil Service Retirees' Interest on Delayed Payments Act

Summary

Civil Service Retirees' Interest on Delayed Payments Act - Requires the initial payment of an annuity under the Civil Service Retirement System to be made: (1) in the case of immediate retirement, not more than 75 days after the date on which the employee is separated from service; or (2) in the case of deferred retirement or a survivors' annuity, not more than 75 days after the date on which the Office of Personnel Management (OPM) receives a completed application from the individual. Requires the initial payment of an annuity under the Federal Employees' Retirement System to be made: (1) in the case of immediate retirement or early retirement, not more than 75 days after the date on which the employee is separated from service; or (2) in the case of deferred retirement, not more than 45 days after the date on which OPM receives a completed application from the individual. Requires OPM to pay interest to the individual entitled to such an annuity for each day the initial payment of such annuity is delayed. Makes the applicable Federal agency liable for any interest amounts caused by its delay in forwarding retirement records to OPM.

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Timeline

1. 5 August 1988

   Introduced

   Read twice and referred to the Committee on Governmental Affairs.

   Source: IntroReferral

2. 5 August 1988

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 5 August 1988

  Open at official source

Sponsors

• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• · ssga00 · Standing

Related records

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