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S. 1888 - Voluntary Separation Incentive Payment Adjustment Act of 2017

Introduced: 2017-09-28
Bill Status: Placed on Senate Legislative Calendar under General Orders. Calendar No. 562.
 
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Full Text


115th CONGRESS
1st Session
S. 1888


    To amend title 5, United States Code, to increase the maximum amount of a Voluntary Separation Incentive Payment and to include an annual adjustment in accordance with the Consumer Price Index.


IN THE SENATE OF THE UNITED STATES

September 28, 2017

    Mr. Lankford introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs


A BILL

    To amend title 5, United States Code, to increase the maximum amount of a Voluntary Separation Incentive Payment and to include an annual adjustment in accordance with the Consumer Price Index.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Voluntary Separation Incentive Payment Adjustment Act of 2017”.

SEC. 2. Voluntary separation incentive pay increase.

(a) In general.—Section 3523 of title 5, United States Code, is amended—

(1) in subsection (b)(3)(B), by striking “$25,000” and inserting “$40,000, as adjusted in accordance with subsection (c)”; and

(2) by adding at the end the following:

“(c) Consumer price index adjustment.—

“(1) IN GENERAL.—On March 1 of each year, the Director of the Office of Personnel Management shall adjust the amount under subsection (b)(3)(B) by the amount determined by the Secretary of Labor to reflect the percentage increase between—

“(A) the Consumer Price Index (all items; United States city average) published for December of the preceding year; and

“(B) the Consumer Price Index (all items; United States city average) published for December of the year before the preceding year.

“(2) ROUNDING.—In making an adjustment under paragraph (1), the Director of the Office of Personnel Management shall—

“(A) round the percentage increase to the nearest 110 of 1 percent; and

“(B) round the amount of the adjustment to the nearest multiple of $1,000.”.

(b) Department of Defense.—Section 9902(f)(5) of title 5, United States Code, is amended—

(1) in subparagraph (A)(ii), by striking “$25,000” and inserting “an amount determined by the Secretary, not to exceed $40,000, as adjusted in accordance with subparagraph (D)”; and

(2) by adding at the end the following:

“(D)(i) On March 1 of each year, the Secretary of Defense shall adjust the amount under subparagraph (A)(ii) by the amount determined by the Secretary of Labor to reflect the percentage difference between—

“(I) the Consumer Price Index (all items; United States city average) published for December of the preceding year; and

“(II) the Consumer Price Index (all items; United States city average) published for December of the year before the preceding year.

“(ii) In making an adjustment under clause (i), the Secretary of Defense shall—

“(I) round the percentage increase to the nearest 110 of 1 percent; and

“(II) round the amount of the adjustment to the nearest multiple of $1,000.”.


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