Fair Retirement for Law Enforcement: Overtime Included in Annuity Calculation
This act aims to ensure federal law enforcement officers receive full credit for overtime hours worked but unpaid due to pay caps. This change will allow their retirement annuities to be calculated based on all hours worked, potentially increasing their retirement benefits. Citizens may indirectly benefit from improved working conditions for those who ensure their safety.
Key points
Unpaid overtime hours for law enforcement officers will now be included in their retirement annuity calculations.
Officers must make a lump-sum payment or accept an actuarial annuity reduction to receive these benefits.
The act applies to officers under CSRS and FERS retirement systems and expands eligibility for availability pay for certain groups.
A tax credit is introduced for lump-sum payments made to include overtime in retirement calculations.
Expired
Additional Information
Print number: 118_HR_1323
Sponsor: Rep. Pascrell, Bill, Jr. [D-NJ-9]
Process start date: 2023-03-01