Federal Employees Preretirement Assistance Act

Federal Employees Preretirement Assistance Act - Requires that all Federal agencies provide their employees who are eligible for or approaching retirement with an appropriate program of preretirement assistance. Requires the Civil Service Commission to establish standards for such programs; provide training for agency preretirement advisers, and study and publish guidelines about related work-life programs, such as phased retirement, trial retirement, new kinds of part-time work and sabbaticals.

Permits the Commission to grant an exemption from providing a preretirement program to any agency which cannot practicably furnish one. Provides for interagency cooperation with regard to preretirement programs.

Provides that the Commission shall make a study of existing and recommended practice both within and outside the Government of the United States, which relate to work-life and study programs. Authorizes appropriations to carry out the provisions of this Act.