Bill to Credit Unused Annual Leave to Retirees' TSP accounts

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Federal Employees and Uniformed Services Retirement Equity Act of 2010

(Introduced in House)

HR 4865 IH

111th CONGRESS

2d Session

H. R. 4865

To amend title 5, United States Code, to provide that an employee of the Federal Government or member of the uniformed services may contribute to the Thrift Savings Fund any payment that the employee or member receives for accumulated and accrued annual or vacation leave, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

March 17, 2010

Mr. LYNCH (for himself and Mr. CHAFFETZ) introduced the following bill; which was referred to the Committee on Oversight and Government Reform

A BILL

To amend title 5, United States Code, to provide that an employee of the Federal Government or member of the uniformed services may contribute to the Thrift Savings Fund any payment that the employee or member receives for accumulated and accrued annual or vacation leave, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Federal Employees and Uniformed Services Retirement Equity Act of 2010′.

SEC. 2. CONTRIBUTIONS TO THRIFT SAVINGS FUND OF PAYMENTS FOR ACCRUED OR ACCUMULATED LEAVE.

(a) Amendments Relating to CSRS- Section 8351(b) of title 5, United States Code, is amended–

(1) by striking paragraph (2)(A) and inserting the following:

`(2)(A) An employee or Member may contribute to the Thrift Savings Fund in any pay period any amount of such employee’s or Member’s basic pay for such pay period, and may contribute (by direct transfer to the Fund) any part of any payment that the employee or Member receives for accumulated and accrued annual or vacation leave under sections 5551 or 5552. Notwithstanding section 2105(e), in this paragraph the term `employee’ includes an employee of the United States Postal Service or of the Postal Regulatory Commission.’;

(2) by striking subparagraph (B) of paragraph (2); and

(3) by redesignating subparagraph (C) of paragraph (2) as subparagraph (B).

(b) Amendments Relating to FERS-

(1) IN GENERAL- Section 8432(a) of title 5, United States Code, is amended–

(A) by striking paragraphs (1) and (2) and inserting the following:

`(1) An employee or Member–

`(A) may contribute to the Thrift Savings Fund in any pay period, pursuant to an election under subsection (b), any amount of such employee’s or Member’s basic pay for such pay period; and

`(B) may contribute (by direct transfer to the Fund) any part of any payment that the employee or Member receives for accumulated and accrued annual or vacation leave under sections 5551 or 5552.

`(2) Contributions made under paragraph (1)(A) pursuant to an election under subsection (b) shall, with respect to each pay period for which such election remains in effect, be made in accordance with a program of regular contributions provided in regulations prescribed by the Executive Director.’; and

(B) by adding at the end the following new paragraph:

`(4) Notwithstanding section 2105(e), in this subsection the term `employee’ includes an employee of the United States Postal Service or of the Postal Regulatory Commission.’.

(2) MEMBERS OF THE UNIFORMED SERVICES- Section 8440e(d) of title 5, United States Code, is amended–

(A) by redesignating paragraph (3) as paragraph (4); and

(B) by inserting after paragraph (2) the following:

`(3) A member making contributions to the Thrift Savings Fund out of basic pay, or out of compensation under section 206 of title 37, may also contribute (by direct transfer to the Fund) all or part of any payment that such member receives for unused accrued leave under section 501 of such title.’.

(c) Regulations-

(1) IN GENERAL- The Executive Director of the Federal Retirement Thrift Investment Board shall promulgate regulations to carry out the amendments made by this section.

(2) AUTHORITY TO PERMIT CONTRIBUTIONS BY INDIVIDUALS SUBJECT TO OTHER RETIREMENT SYSTEMS- Under the authority to promulgate regulations under paragraph (1), the Executive Director may permit an employee of the Federal Government or a member of the uniformed services who is not given the authority under any of the amendments made by this Act to contribute a payment for accumulated and accrued annual or vacation leave to the Thrift Savings Fund to contribute all or part of any such payment to the Fund if–

(A) the employee or member is authorized under law to receive such a payment;

(B) the employee or member is covered by an equivalent Federal employee retirement system; and

(C) the employee or member is authorized under law to contribute to the Fund.

 

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