The National Defense Authorization Act was signed 10/28/09 by President Obama and brings some significant changes to federal retirement, benefits and pay. The following release is from OPM:
President Obama has signed the National Defense Authorization Act. The Act contains several retirement changes. We will provide additional information and guidance as soon as possible.
§ Credit for sick leave in the computation of FERS annuities is effective at 50% immediately and 100% in 2014.
§ Provision allowing former federal employees under the FERS who withdrew their contributions to the retirement trust fund, thereby waiving retirement credit for those years of service, to redeposit their earlier contributions, plus interest, upon reemployment with the federal government is effective immediately.
§ A change in CSRS part-time computation (going to a single deemed high-3) is effective immediately.
§ A change of the ending date for periods of service under CSRS that can be redeposited by actuarial reduction (instead of for separations prior to 10/1/90 it will be for separations prior to 3/1/91) is effective immediately.
§ The less-than-full-time dual comp reemployed annuitant provision authorizes federal agencies to reemploy retired federal employees under certain limited conditions, without offset of an employees’ annuity against their salary is available for agencies to use effective immediately.
§ Provisions phasing out cost of living allowances for federal employees working in Hawaii, Alaska, and other non-foreign U.S. territories, and phasing in locality comparability pay in place of the allowance affecting retirement take effect next year.
§ The provisions allowing certain previously non-creditable D.C. Government employment to be creditable for title but not annuity computation are effective immediately.
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