Retirement Coverage Error Correction Act of 1998

Retirement Coverage Error Correction Act of 1998 - Provides for the correction of Federal retirement coverage errors (with the exception of errors in effect for a period of less than three years of employee service after December 31, 1986) concerning: (1) social security-only covered employees who were erroneously CSRS (Civil Service Retirement System) covered or CSRS Offset covered; (2) social security-only covered employees not eligible to elect FERS (Federal Employees Retirement System) who were erroneously FERS covered; (3) CSRS covered, CSRS Offset covered, and FERS eligible social security-only covered employees who were erroneously FERS covered without an election; (4) FERS covered current and former employees who were erroneously CSRS covered or CSRS Offset covered; and (5) annuitants and survivors in cases where FERS covered employees were erroneously CSRS covered or CSRS Offset covered.

(Sec. 10) Sets forth provisions concerning the social security coverage of employees erroneously subject to CSRS coverage and retroactively converted to CSRS Offset coverage, FERS coverage, or social security-only coverage.

(Sec. 11) Sets forth requirements regarding: (1) future CSRS coverage determinations; (2) specified discretionary actions to be taken by the OPM Director (requires a certain report to the Congress); (3) Thrift Savings Plan treatment for certain individuals; (4) the authorization of all payments permitted or required by this Act to be paid from the Civil Service Retirement and Disability Fund and the appropriation of the Fund for such payments; (5) service credit deposits; and (6) regulations.