A bill to amend the Internal Revenue Code of 1954 to provide that the first $4,000 received as civil service retirement annuity from the United States or any agency thereof shall be excluded from gross income.

Provides that the amount excluded from an annuity contract or the first $4,000 received as civil service retirement annuity from the United States or any agency thereof shall be excluded from gross income under the Internal Revenue Code. (Amends 26 U.S.C. 124)