To amend title 5, United States Code, to allow any Federal employee who has performed sufficient service to entitle such employee to the maximum annuity percentage allowable under the Civil Service Retirement System to terminate retirement deductions from pay.

Requires the Office of Personnel Management (OPM) to prescribe regulations to allow federal employees who have performed sufficient service to qualify for the maximum annuity available under the Civil Service Retirement System to elect to terminate retirement deductions from their basic pay.

Declares that an employee who makes such an election does not, by virtue of such election: (1) cease to be subject to civil service retirement provisions; (2) forfeit the right to have any subsequently accruing sick leave taken into account for purposes of computing what unused sick days are included in an annuity; (3) cease to be eligible to continue contributing to the Thrift Savings Fund; or (4) cease to be eligible to make any deposit remaining due.