To amend title 5, United States Code, to conform the retirement coverage of Members and congressional employees to that of employees of the executive branch.

Amends Federal civil service retirement provisions to remove specified provisions regarding creditable service for Members of Congress.

Provides for the deduction and withholding of seven (currently, eight) percent of the basic pay of a Member of Congress, thus making such deduction and withholding equivalent to that of a Federal employee.

Removes provisions regarding eligibility for annuities for Members of Congress and makes annuity eligibility requirements for Federal employees applicable to Members.

Repeals provisions regarding: (1) deferred retirement with respect to Members; and (2) the computation of annuities for congressional employees and Members.

Prohibits such annuities from exceeding 80 percent of the average pay of an employee or Member (thus, making the computation of a Member's annuity conform to that of a Federal employee).

Removes provisions regarding survivor annuities, annuities and pay on reemployment, and immediate retirement with respect to Members.

Makes the computation of a basic annuity, deductions from pay, and Government contributions for Members conform to requirements for Federal employees.

Applies this Act to congressional employees as well.