LEO Fair Retirement Act of 2017
This bill provides that for purposes of computing the annuity of a federal law enforcement officer (LEO) under the Civil Service Retirement System and the Federal Employees Retirement System, any premium pay earned by such LEO in excess of limitations imposed on such pay shall be included in the LEO's average pay, contingent on the payment of a specified lump sum by the LEO to the Office of Personnel Management.
The bill makes postal inspectors eligible for availability pay (i.e., premium pay paid to LEOs who are criminal investigators).
The bill allows a nonrefundable tax credit for certain lump-sum payments of uncompensated law enforcement premium pay.