To amend title 5, United States Code, to provide portability of service credit for persons who leave employment with the Federal Reserve Board to take positions with other Government agencies.
Federal Reserve Board Retirement Portability Act - Includes as creditable service of a Federal employee or Member of Congress for purposes of Federal Employees Retirement System (FERS) provisions a period of service (other than any service already creditable under FERS, any military service, and any service performed in the employ of a Federal Reserve Bank) that was creditable under the Bank Plan (the benefit structure in which employees of the Board of Governors of the Federal Reserve System appointed on or after January 1, 1984, participate), if the employee waives credit for such service under the Bank Plan and makes a payment to the Thrift Savings Fund equal to the amount that would have been deducted from pay had the employee been subject to FERS during such period of service (together with interest on such amount computed).
Excludes from participation in FERS any employee or Member who has separated from civilian service after having been subject to the benefit structure for employees of the Board appointed before January 1, 1984, and having at least five years of civilian service (other than any service performed in the employ of a Federal Reserve Bank) creditable under such benefit structure, except for such persons who subsequently enter a position subject to FERS provisions.
Makes the amendments regarding creditability and certain former Board employees applicable only to individuals who separate from service subject to FERS on or after the date of enactment of this Act.
(Sec. 3) Treats as a separation from Government employment, for purposes of the Thrift Savings Plan, any transfer from a position that is subject to FERS, CSRS, or any other retirement system under which individuals may contribute to the Thrift Savings Fund through withholdings from pay, to a position that is not subject to any of them.
(Sec. 4) Amends competitive service examination provisions to: (1) repeal the requirement that the Office of Personnel Management establish an appointing authority to appoint preference eligibles and veterans who have been separated from the armed forces under honorable conditions after three or more years of active service; and (2) require such a preference eligible or veteran, if selected, to acquire competitive status and receive a career or career-conditional appointment.
Introduced in House
Introduced in House
Referred to the House Committee on Government Reform.
Referred to the Subcommittee on Civil Service.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee by Voice Vote.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Government Reform. H. Rept. 106-53.
Reported (Amended) by the Committee on Government Reform. H. Rept. 106-53.
Placed on the Union Calendar, Calendar No. 33.
Mr. Mica moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H1281-1285)
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DEBATE - The House proceeded with forty minutes of debate on H.R. 807.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
The title of the measure was amended. Agreed to without objection.
Received in the Senate and read twice and referred to the Committee on Governmental Affairs.
Referred to Subcommittee on International Security.