National Defense Authorization Act of 2010
Important Retirement Changes
On October 28, 2009, President Obama signed the National Defense Authorization Act of 2010. The Act contains several important retirement changes including:
Credit for sick leave in the computation of FERS annuities is effective at 50% immediately and 100% in 2014.(For those employees that are retiring very soon, HR offices should provide the sick leave balance in the retirement package. OPM will make the final calculations.)
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 provisions allowing certain previously non-creditable D.C. Government employment to be creditable for title but not annuity computation are effective immediately.
More information can be provided by OPM.