Congressional Pension Reform Act
This bill modifies the Federal Employees Retirement System (FERS) to exclude Members of Congress, except the Vice President, from FERS retirement coverage after the enactment of this bill.
The bill 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.
The bill does not affect the rights or benefits of any Member for the period prior to the enactment of this bill, nor does it affect the eligibility of a member to participate in the Thrift Savings Plan.
Members may elect to remain subject to FERS by filing a written election within 90 days after the enactment of this bill.