A bill to provide for assistance to Federal employees in reduction in force actions of Federal personnel, and for other purposes.

Establishes reemployment rights for Department of Defense (DOD) employees in reduction in force (RIF) actions. Requires DOD and each military department concerned to offer an employee who has been released under a RIF the right of first refusal to a job such entity restores within two years after the employee's release. Prohibits such entities from replacing within two years such an employee with a contract or temporary employee. Provides that if DOD or a military department seeks to staff some positions within two years after a RIF, it must offer reemployment to employees released under the RIF on the basis of seniority.

Requires the Office of Personnel Management to keep a Government-wide list of vacant positions and establish a toll-free number which will enable the public to access information on the list. Requires Federal agencies to give qualified displaced DOD employees full consideration before hiring candidates from outside the agency.

Codifies existing regulations requiring agencies to issue specific written notices to employees and their representatives at least 60 days prior to a RIF. Requires additionally that an agency also notify the appropriate State dislocated worker unit and chief elected official whenever a significant number of employees will be separated under a RIF.

Amends the Defense Base Closure and Realignment Act of 1990 and the Defense Authorization Amendments and Base Closure and Realignment Act to make civilian employees at military installations scheduled for closure or realignment eligible to receive assistance under the defense conversion adjustment program under the Job Training Partnership Act one year in advance of the closure or realignment.

Provides that DOD or each military department concerned may offer certain employees the option of receiving a lump sum payment for unused sick leave. Provides that this option is in lieu of adding unused sick leave to length of service for purposes of calculating Federal retirement benefits.

Allows DOD and each military department concerned to authorize payment of a lump sum separation benefit to certain civilian employees to encourage voluntary separations. Sets forth rules for determining the amount of such payment. Provides that civilian employees at military bases scheduled for closure between October 1, 1992, and December 31, 1997, will be allowed to have annual leave which was lost as a result of closure operations during such period restored.

Provides for continued health benefit coverage for DOD employees involuntarily separated under a RIF. Requires such an employee to continue to pay his or her share of the premium under the health plan involved.

Provides that an employee who is involuntarily separated under a RIF will be treated as if entitled to an immediate annuity under the Thrift Saving Plan.