Summary

To amend title 5, United States Code, to secure the annuities of Federal civilian employees, and for other purposes. Read More

Status

This bill was introduced on Feb 7, 2012, in a previous session of Congress, but was not passed.

Date Introduced
Jan 24, 2012

Co-Sponsors

Bill Text

A BILL

To amend title 5, United States Code, to secure the annuities of Federal civilian employees, 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 ``Securing Annuities for Federal Employees Act of 2012''.

SEC. 2. RETIREMENT CONTRIBUTIONS.

(a) Civil Service Retirement System.-- (1) Individual contributions.--Section 8334(a)(1)(A) of title 5, United States Code, is amended-- (A) by striking ``(a)(1)(A) The'' and inserting ``(a)(1)(A)(i) Except as provided in clause (ii), the''; and (B) by adding at the end the following: ``(ii) The percentage of basic pay to be deducted and withheld under clause (i) shall-- ``(I) for each of calendar years 2013, 2014, and 2015, be equal to the percentage that applied in the preceding calendar year (as increased under this subclause, if applicable), plus an additional 0.5 percentage point; and ``(II) for each calendar year after 2015, be equal to the applicable percentage for calendar year 2015 (as determined under subclause (I)).''. (2) Government contributions.--Section 8334(a)(1)(B) of title 5, United States Code, is amended-- (A) in clause (i), by striking ``Except as provided in clause (ii),'' and inserting ``Except as provided in clause (ii) or (iii),''; and (B) by adding at the end the following: ``(iii) The amount to be contributed under clause (i) shall, with respect to a period in any calendar year specified in subparagraph (A)(ii), be equal to-- ``(I) the amount that would...

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Bill Summary

To amend title 5, United States Code, to secure the annuities of Federal civilian employees, and for other purposes.

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