To amend title 5, United States Code, to provide that Government employees who become subject to certain post-employment restrictions or who separate from Government service due to non-recertification as a senior executive may obtain certain life insurance, health insurance, and retirement benefits, and for other purposes.

Allows former Government employees who are subject to certain post-employment restrictions or were separated from Government service for failure to be recertified as a senior executive to elect to continue their current life or health insurance coverage for the duration of such restrictions or 12 months, respectively, if they: (1) were insured immediately before separation; (2) performed at least ten years of civilian service; and (3) were not otherwise eligible for coverage after separation. Requires such employees and their last employing agency to pay their respective contributions to the Employees' Life Insurance or Health Benefits Fund as if they were still employed by that agency after an election to continue such insurance coverage.

Directs the Office of Personnel Management to provide for a 60-day period during which any employee: (1) who does not have life insurance may elect to become so insured; or (2) who is insured may elect additional life insurance coverage.

Provides that the annuity reduction for early retirement for Government employees who are subject to certain post-employment restrictions shall be one-half of the otherwise applicable reduction for the duration of such restrictions.

Provides for a congressional review of the extension of transition benefits under this Act.