SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Congressional Pension Reform Act of 
1995''.

SEC. 2. AMENDMENT OF TITLE 5, UNITED STATES CODE.

    Except as otherwise expressly provided, whenever in this Act an 
amendment or repeal is expressed in terms of an amendment to, or repeal 
of, a section or other provision, the reference shall be considered to 
be made to a section or other provision of title 5, United States Code.

SEC. 3. CIVIL SERVICE RETIREMENT SYSTEM.

    (a) Deductions and Deposits.--
            (1) Deductions.--The first sentence of section 8334(a)(1) 
        is amended to read as follows: ``The employing agency shall 
        deduct and withhold 7 percent of the basic pay of an employee 
        and a Member, 7\1/2\ percent of the basic pay of a law 
        enforcement officer and a firefighter, and 8 percent of the 
        basic pay of a Claims Court judge, a United States magistrate, 
        a judge of the United States Court of Appeals for the Armed 
        Forces, and a bankruptcy judge.''.
            (2) Deposits.--
                    (A) For member service.--Section 8334(c) is amended 
                in the matter relating to a Member for Member service 
                by striking

                                                                        
                                                                        
                                                                        
                        ``8.........  After December 31, 1969.''        
                                                                        

                and inserting the following:

                                                                        
                                                                        
                                                                        
                        ``8.........  January 1, 1970, to (but not      
                                       including) the effective date of 
                                       the Congressional Pension Reform 
                                       Act of 1995.                     
                        ``7.........  On and after the effective date of
                                       the Congressional Pension Reform 
                                       Act of 1995.''.                  
                                                                        

                    (B) For congressional employee service.--Section 
                8334(c) is amended in the matter relating to a Member 
                or employee for Congressional employee service by 
                striking

                                                                        
                                                                        
                                                                        
                        ``7\1/2\....  After December 31, 1969.''        
                                                                        

                and inserting the following:

                                                                        
                                                                        
                                                                        
                        ``7\1/2\....  January 1, 1970, to (but not      
                                       including) the effective date of 
                                       the Congressional Pension Reform 
                                       Act of 1995.                     
                        ``7.........  On and after the effective date of
                                       the Congressional Pension Reform 
                                       Act of 1995.''.                  
                                                                        

    (b) Immediate Retirement.--
            (1) At age 55 with 30 years of service, age 60 with 20 
        years of service, or age 62 with 5 years of service.--
        Subsections (a), (b), and (f) of section 8336 are amended by 
        inserting ``or Member'' after ``employee''.
            (2) At age 50 with 20 years of service or any age with 25 
        years of service.--Section 8336(g) is amended to read as 
        follows:
    ``(g) A Member who is separated from the service, except by 
resignation or expulsion--
            ``(1) after completing 25 years of service, or
            ``(2) after becoming 50 years of age and completing 20 
        years of service,
is entitled to an annuity.''.
            (3) Applicability.--The amendments made by this subsection 
        shall apply with respect to any annuity eligibility for which 
        is based on a separation occurring on or after the effective 
        date of this Act.
            (4) Savings provision.--
                    (A) In general.--Eligibility for an immediate 
                annuity under section 8336 of title 5, United States 
                Code, shall, in the case of an individual described in 
                subparagraph (B), be determined in accordance with the 
                provisions of such section, as they would read if 
                paragraphs (1) and (2) of this subsection had not been 
                enacted.
                    (B) Description.--This paragraph applies with 
                respect to any individual who--
                            (i) performs service as a Member of 
                        Congress on or after the effective date of this 
                        Act; and
                            (ii) as of the day before the effective 
                        date of this Act, satisfies the age and service 
                        requirements for title to an immediate annuity 
                        under section 8336(g) of such title, as then in 
                        effect.
                    (C) Length of service.--Any determination under 
                subparagraph (B) relating to length of service shall be 
                made without regard to--
                            (i) any deposit or redeposit requirement;
                            (ii) any requirement that the individual 
                        become subject to this subchapter after 
                        performing the service involved (including for 
                        a specified minimum period of time); or
                            (iii) any requirement that the individual 
                        give notice in writing to the official by whom 
                        such individual is paid of such individual's 
                        desire to become subject to this subchapter.
    (c) Deferred Retirement.--
            (1) At age 62 with 5 years of service.--Section 8338(a) is 
        amended by inserting ``or Member'' after ``employee''.
            (2) Repealer.--Section 8338(b) is repealed.
            (3) Applicability.--The amendments made by this subsection 
        shall apply with respect to any annuity eligibility for which 
        is based on a separation occurring on or after the effective 
        date of this Act.
            (4) Savings provision.--
                    (A) In general.--Eligibility for a deferred annuity 
                under section 8338 of title 5, United States Code, 
                shall, in the case of an individual described in 
                subparagraph (B), be determined in accordance with the 
                provisions of such section, as they would read if 
                paragraphs (1) and (2) of this subsection had not been 
                enacted.
                    (B) Description.--This paragraph applies with 
                respect to any individual who--
                            (i) performs service as a Member of 
                        Congress on or after the effective date of this 
                        Act; and
                            (ii) as of the day before the effective 
                        date of this Act, satisfies the age and service 
                        requirements for title to a deferred annuity 
                        under section 8338(b) of such title, as then in 
                        effect.
                    (C) Length of service.--Any determination under 
                subparagraph (B) relating to length of service shall be 
                made without regard to--
                            (i) any deposit or redeposit requirement;
                            (ii) any requirement that the individual 
                        become subject to this subchapter after 
                        performing the service involved (including for 
                        a specified minimum period of time); or
                            (iii) any requirement that the individual 
                        give notice in writing to the official by whom 
                        such individual is paid of such individual's 
                        desire to become subject to this subchapter.
    (d) Computation of Annuity.--
            (1) Members.--
                    (A) In general.--Section 8339(c) is amended by 
                striking all that follows ``with respect to--'' and 
                inserting the following:
            ``(1) so much of his service as a Member as is or was 
        performed before the effective date of the Congressional 
        Pension Reform Act of 1995;
            ``(2) so much of his military service as--
                    ``(A) is creditable for the purpose of this 
                paragraph; and
                    ``(B) is or was performed before the date referred 
                to in paragraph (1); and
            ``(3) so much of his Congressional employee service as is 
        or was performed before the date referred to in paragraph (1);
by multiplying 2\1/2\ percent of his average pay by the years of that 
service.''.
                    (B) Technical amendment.--Section 8332(d) is 
                amended by striking ``section 8339(c)(1)'' and 
                inserting ``section 8339(c)''.
            (2) Congressional employees.--Section 8339(b) is amended--
                    (A) by inserting ``so much of'' after ``is computed 
                with respect to''; and
                    (B) by inserting ``as is or was performed before 
                the effective date of the Congressional Pension Reform 
                Act of 1995,'' before ``by multiplying''.
            (3) Reduction for retirement before a certain age.--
                    (A) In general.--Section 8339(h) is amended--
                            (i) by striking the second sentence; and
                            (ii) in the first sentence by striking 
                        ``subsections (a), (b), (d)(5), and (f) of this 
                        section for an employee retiring under section 
                        8336(d), (h), or (j) of this title'' and 
                        inserting ``subsections (a), (b), (c), (d)(5), 
                        and (f) of this section for an employee 
                        retiring under section 8336(d), (h), or (j) of 
                        this title, or for a Member retiring under 
                        section 8336(g) of this title,''.
                    (B) Applicability.--The amendments made by 
                subparagraph (A) shall apply with respect to the 
                computation of any benefits eligibility for which is 
                based on a separation occurring on or after the 
                effective date of this Act.
    (e) Annuity for the Surviving Spouse of a Former Member With Title 
to a Deferred Annuity.--
            (1) In general.--Section 8341(f) is repealed.
            (2) Savings provision.--Nothing in paragraph (1) shall 
        affect any person's eligibility for a survivor annuity based on 
        the death of an individual whose separation from service with 
        title to a deferred annuity occurs or occurred before the 
        effective date of this Act.
    (f) Annuities and Pay on Reemployment.--
            (1) In general.--Section 8344 is amended--
                    (A) by repealing subsection (d);
                    (B) in subsection (a)--
                            (i) by inserting ``or'' at the end of 
                        paragraph (2), by striking ``or'' at the end of 
                        paragraph (3), and by striking paragraph (4); 
                        and
                            (ii) in subparagraph (A) by striking ``(if 
                        the employee so elects),'' and inserting ``(if 
                        the annuitant so elects),'' and by inserting 
                        ``(c),'' after ``(b),'';
                    (C) in subsections (b), (c), and (f) by striking 
                ``, other than a Member receiving an annuity from the 
                Fund,''; and
                    (D) in subsection (b) by adding at the end the 
                following: ``The Office shall prescribe regulations for 
                applying this subsection with respect to a Member.''.
            (2) Savings provisions.--
                    (A) In general.--Section 8344(d) of title 5, United 
                States Code, as last in effect before the effective 
                date of this Act, shall continue to apply after such 
                effective date with respect to any former Member of 
                Congress serving in an appointive or elective position 
                as of such date.
                    (B) Termination.--Subparagraph (A) shall not apply 
                with respect to any position to which such former 
                Member is appointed or elected after the effective date 
                of this Act.
    (g) Eligibility for annuity.--
            (1) In general.--Section 8333(c) is repealed.
            (2) Applicability.--The amendment made by paragraph (1) 
        shall apply with respect to any determination of eligibility 
        for an annuity based on a separation occurring on or after the 
        effective date of this Act.

SEC. 4. FEDERAL EMPLOYEES' RETIREMENT SYSTEM.

    (a) Election Not To Participate.--
            (1) In general.--Section 8401(20) is amended by striking 
        ``2106,'' and all that follows through the semicolon and 
        inserting ``2106;''.
            (2) Savings provision.--The amendment made by paragraph (1) 
        shall not affect any election made before the effective date of 
        this Act.
    (b) Computation of Basic Annuity.--
            (1) Members.--Section 8415(b) is amended by striking 
        ``shall'' and inserting ``shall, to the extent that such 
        service is or was performed before the effective date of the 
        Congressional Pension Reform Act of 1995,''.
            (2) Congressional employees.--Section 8415(c) is amended by 
        striking ``shall'' and inserting ``shall, to the extent that 
        such service is or was performed before the effective date of 
        the Congressional Pension Reform Act of 1995,''.
            (3) Provisions relating to the 1.1 percent accrual rate.--
        Section 8339(g) is amended--
                    (A) in paragraph (1) by striking ``an employee 
                under paragraph (2),'' and inserting ``an employee or 
                Member under paragraph (2),'';
                    (B) in paragraph (2) by inserting ``or Member'' 
                after ``in the case of an employee'' and by striking 
                ``Congressional employee,''; and
                    (C) by adding at the end the following:
    ``(3) Notwithstanding any other provision of this subsection--
            ``(A) this subsection shall not apply in the case of a 
        Member or Congressional employee whose separation (on which 
        entitlement to annuity is based) occurs before the effective 
        date of the Congressional Pension Reform Act of 1995; and
            ``(B) in the case of a Member or Congressional employee to 
        whom this subsection applies, the 1.1 percent accrual rate 
        shall apply only with respect to any period of service other 
        than a period with respect to which the 1.7 percent accrual 
        rate applies under subsection (b) or (c).''.
    (c) Deductions From Pay.--Section 8422(a)(2) is amended--
            (1) in subparagraph (A) by striking ``air traffic 
        controller, or Congressional employee)'' and inserting ``or air 
        traffic controller) or Member,''; and
            (2) in subparagraph (B) by striking ``a Member, law 
        enforcement officer, firefighter, air traffic controller, or 
        Congressional employee,'' and inserting ``a law enforcement 
        officer, firefighter, or air traffic controller,''.
    (d) Government Contributions.--Section 8423(a)(1) is amended--
            (1) in subparagraph (A)(i) by striking ``subparagraph 
        (B)),'' and inserting ``subparagraph (B)) and Members,'';
            (2) in subparagraph (B)(i) by striking ``Members, 
        Congressional employees,''; and
            (3) in subparagraph (B)(ii) by striking ``and Members''.

SEC. 5. EFFECTIVE DATE.

    This Act shall take effect on the first day of the first Congress 
beginning after the date of the enactment of this Act.
Congressional Pension Reform Act of 1995 - Provides for the deduction and withholding of seven percent (currently, eight and seven and one-half percent, respectively) of the basic pay of a Member of Congress or congressional employee under the Civil Service Retirement System, thus making such deduction and withholding equivalent to that of a Federal employee. 
Makes provisions regarding immediate retirement, entitlement to annuities, and deferred retirement for Federal employees applicable to Members.  Removes specified provisions regarding annuities, reduced annuities, and deferred retirement for Members.  Removes a provision that entitles a Member to an annuity if he or she serves in nine Congresses.  Continues the applicability of existing provisions regarding immediate Member annuities and deferred retirement with respect to Members serving on or after this Act's effective date who, as of the day before such effective date, satisfy the existing age and service requirements for entitlement to immediate annuities or deferred retirement. 
Revises the formula for computing annuities of Members and congressional employees with at least five years of service to restrict creditable service to service performed before this Act's enactment date.  Makes similar amendments with respect to the computation of Federal Employees' Retirement System (FERS) annuities for Members and congressional employees. 
Makes the reduction in annuity for Federal employees retiring before age 55 applicable to Members as well.  Repeals provisions that provide for a different reduction formula for Members. 
Repeals provisions concerning:  (1) annuities for surviving spouses of Members entitled to deferred annuities; (2) the treatment of annuities during periods of reemployment; and (3) eligibility for annuities of Members or survivors. 
Makes deductions and withholding and the formula for Government contributions under FERS for Members and congressional employees conform to those of Federal employees.
Congressional Pension Reform Act of 1995