Federal Employees' Retirement System Technical Corrections Act of 1986

(Measure passed House, amended)

Federal Employees' Retirement System Technical Corrections Act of 1986 - Title I: Provisions Relating to Title I of the Federal Employees' Retirement System Act of 1986 - Amends the Federal Employees' Retirement System Act of 1986 (regarding post-1983 employees) to repeal the authority of the Director of the Office of Personnel Management to inspect and audit disbursements from the Thrift Savings Fund.

Authorizes employees to defer annuity commencement dates by written election.

Extends the investigative authority of the Secretary of Labor to fiduciary responsibilities and bonding provisions under this Act.

Grants the Secretary interim authority (until such time as final regulations become effective) regarding fiduciary exemptions, administrative exemptions, bonding regulations, and allocation of fiduciary responsibilities.

Authorizes the Clerk of the House, the Secretary of the Senate, and the Director of the Office of Technology Assessment to exclude temporary or intermittent employees from the Federal Employees' Retirement System.

Title II: Amendments Relating to Title II of the Federal Employees' Retirement System Act of 1986 - Declares that the amendment to annual and sick leave provisions to include employees of the District of Columbia employed before October 1, 1987, shall not result in the coverage of any individual employed by the District who would not have been covered if such amendment had not been made.

Title III: Amendments Relating to Title III of the Federal Employees' Retirement System Act of 1986 - Revises the rights of certain individuals not covered by a retirement system as of December 31, 1986, in their choice of the civil service retirement system or the Federal employees' retirement system.

Revises the method of computing interest on refunds based on an election to become subject to the Federal employees' retirement system.

Title IV: Foreign Service Retirement - Amends the Foreign Service Pension System Act of 1986 to revise provisions regarding annuity offsets by social security benefits and increase the ceiling on annual rates of pay for reemployed annuitants.

Authorizes participation in the Thift Savings Fund by participants in the Foreign Service Retirement and Disability System.

Provides for the continued participation in the Foreign Service retirement system of any employee on approved leave without pay who is serving as a full-time paid employee of a Member or office of the Congress.

Revises provisions respecting annuity entitlements.

Declares that former spouses shall not be entitled to survivor benefits if, prior to commencement of any benefits, the former spouse remarries before age 55.

Title V: Miscellaneous Provisions - Provides for crediting certain military service in computing annuities under the civil service retirement system or the Federal employees' retirement system for the survivor of an employee who dies in service.

Declares that mandatory separation provisions shall not be applied to any air traffic controller appointed before January 1, 1987.