A bill to amend title 5, United States Code, to provide for more equitable policies relating to overtime pay for Federal employees, limitations on premium pay, and the accumulation and use of credit hours.

Amends Federal Civil Service provisions regarding the computation of overtime pay to establish the overtime hourly rate of pay for: (1) a Federal employee whose basic pay rate does not exceed the minimum rate of basic pay for GS-12 (currently, GS-10) as an amount equal to one and one-half times the hourly rate of basic pay of the employee; and (2) a Federal employee whose basic pay rate exceeds the minimum rate of basic pay for GS-12 as an amount equal to the greater of one and one-half times the minimum hourly rate of basic pay for GS-12 or the hourly rate of basic pay of the employee.

Revises provisions regarding limitations on premium pay to allow an employee to be paid premium pay only to the extent that the payment does not cause the aggregate rate of pay for any pay period, or the aggregate of the basic pay and premium pay in any calendar year, to exceed the lesser of 150 percent of the minimum rate of basic pay payable for GS-15 or the rate payable for level V of the Executive Schedule.

Applies any limitations (or other terms or conditions) governing the accumulation or use of credit hours by employees on flexible work schedules equally to all career employees in the Civil Service (or, if promulgated by an agency, within such agency), including those in the Senior Executive Service or another equivalent system.

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