Members of Congress Pension Opt Out Clarification Act This bill allows future Members of the House of Representatives to opt out of the Federal Employees Retirement System, an option currently available to Members of the House who began serving before September 30, 2003, and all Senators. In addition, it permits Members of Congress who opt out to continue to participate in the Thrift Savings Plan.
Impact
The bill aims to provide greater flexibility for new Members of Congress regarding their retirement benefits, acknowledging a growing trend among employees in various sectors to seek alternative retirement options. By allowing new legislators the choice to opt out of FERS, the bill is anticipated to influence future discussions about entitlement and pension reform at the federal level. This change could lead to shifts in how retirement benefits are structured and offered to public servants, potentially affecting the sustainability and attractiveness of such plans.
Summary
SB86, known as the Members of Congress Pension Opt Out Clarification Act, was introduced to allow future Members of the House of Representatives the option to opt out of the Federal Employees Retirement System (FERS). This option would be available only to those who begin their service after the enactment of the bill, distinguishing them from current Members who have been eligible to opt out under previous regulations. Additionally, it ensures that Members who choose to opt out can continue participation in the Thrift Savings Plan (TSP), providing them with a means of securing their retirement through a different avenue.
Contention
While the bill presents an opportunity for modernizing retirement options for Congress, it may also raise concerns regarding the long-term implications for the FERS. Critics might argue that allowing Members to opt out could weaken the pension system's stability, creating a disparity between those who rely on traditional pension plans and those who prefer individual retirement plans. Legislative discussions may explore the balance between providing choice and ensuring the viability of retirement benefits for all federal employees.
End Pensions in Congress Act or the EPIC Act This bill excludes future Members of Congress from the Federal Employees Retirement System (FERS) and requires Members currently enrolled in FERS or the Civil Service Retirement System to opt in to continue their enrollment.
Ban Congressmen Lobbyists Act This bill prohibits Members of Congress from lobbying Congress or federal agencies at any point after leaving office. Currently, Senators are prohibited from lobbying Congress for two years after leaving office. Members of the House of Representatives are prohibited from lobbying Congress for one year after leaving office. The bill applies to any person who is a Member of Congress during the 118th Congress or any succeeding Congress.
Citizen Legislature Anti-Corruption Reform of Public Service Act or the CLEAN Public Service Act This bill excludes Members of Congress from further retirement coverage under the Civil Service Retirement System or the Federal Employees Retirement System following the enactment of the bill. It also prohibits further government contributions or deductions from a Member's basic pay for deposit in the Treasury to the credit of the Civil Service Retirement and Disability Fund. This exclusion does not affect a Member's eligibility to participate in the Thrift Savings Plan.
No Pay Raise for Congress Act This bill cancels the automatic adjustment to the pay of Members of Congress that is based on the employment cost index if the Congressional Budget Office determines that there was a federal budget deficit in the last fiscal year.
Protection from Obamacare Mandates and Congressional Equity Act This bill alters provisions relating to the requirement to maintain minimum essential health care coverage (i.e., the individual mandate), as well as provisions relating to health care coverage for certain executive branch and congressional employees. Specifically, the bill exempts individuals from the requirement to maintain minimum essential health care coverage if they reside in a county where fewer than two health insurers offer insurance on the health insurance exchange. Under current law, there is no penalty for failing to maintain minimum essential health care coverage. The bill also requires certain executive branch and congressional employees to participate in health insurance exchanges. Under current law, Members of Congress and their designated staff are required to obtain coverage through health insurance exchanges, rather than the Federal Employee Health Benefits (FEHB) Program. Current regulations authorize government contributions toward such coverage and require Members of Congress to designate which members of their staff are required to obtain coverage through an exchange. The bill requires all congressional staff, including employees of congressional committees and leadership offices, to obtain coverage through an exchange. The bill also prohibits Members of Congress from having the discretion to determine which of their employees are eligible to enroll through an exchange. Further, the President, Vice President, and executive branch political appointees must also obtain coverage through exchanges, rather than FEHB. The government is prohibited from contributing to or subsidizing the health insurance coverage of the officials and employees subject to this requirement, including Members of Congress and their staff.