H.R.804 - Congressional Members' Pension Limitation Act of 1995104th Congress (1995-1996)
Summary: H.R.804 — 104th Congress (1995-1996)
Introduced in House (02/02/1995)
Congressional Members' Pension Limitation Act of 1995 - Amends Federal civil service retirement system (CSRS) provisions to prohibit deductions and withholdings from the pay of a Member of Congress with respect to any pay period beginning after: (1) such Member has completed five years of civilian service; or (2) the effective date of this Act in the case of a Member whose service exceeds five years.
Removes provisions regarding eligibility for annuities of Members of Congress under CSRS. Requires the level of individual and Government contributions under the Thrift Savings Plan (TSP) to be the percentage of pay specified under existing law (up to ten percent and one percent plus matching contributions, respectively) for Members from whom deductions from pay may not be made by reason of this Act and who have 12 or fewer years of service. Prohibits Government and matching contributions to the TSP for Members with more than 12 years of service.
Makes parallel amendments to provisions regarding the Federal Employees' Retirement System, including a prohibition on making deductions under such system from the pay of individuals who become Members on or after this Act's effective date. Excludes any period of service for which such deductions may not be made from the total period of service used in any computation of a basic annuity or other benefits based on service.