Air Traffic Equity Act of 2002

Air Traffic Equity Act of 2002 - Directs the Administrator of the Federal Aviation Administration (FAA) to adjust the annual rates of basic pay applicable to uncovered air traffic MSS employees (an air traffic controller assigned as a manager, supervisor, or staff specialist or any additional employee designated as critical to accomplishing the FAA air traffic control mission that is not covered by the air traffic control specialized compensation system). Requires such adjustment to align the rates with the annual rates of basic pay applicable to covered air traffic MSS employees (air traffic MSS employees covered by the air traffic control specialized compensation system). Sets forth certain basic pay adjustment requirements, including the payment of a lump sum to uncovered and former air traffic MSS employees. Entitles an individual aggrieved by a final determination under this Act to appeal to the Merit Systems Protection Board, or through any contractual grievance procedure applicable to the employee as a member of a collective bargaining unit.