Date: July 18, 2012
President Signs H.R. 4348
“Moving Ahead for Progress in the 21st Century Act”
On July 6, 2012, the President signed into law H.R. 4348, the Moving Ahead for Progress in the 21st Century Act or “MAP-21”, which became Public Law 112-141. The House of Representatives passed the bill on April 18, 2012 by a vote of 293 to 127. The Senate passed the bill with an amendment by Unanimous Consent on April 24, 2012. Both Chambers agreed to the House Conference Report (112-557) on June 29, 2012. The bill includes a provision of phased retirement for Federal employees.
Following are descriptions of provisions of interest to SSA:
- Allows certain Federal employees to phase into retirement at the end of their careers. Phased retirees would work part-time (e.g., 50 percent of work hours1) while receiving proportionally reduced pensions. Such employees would spend at least 20 percent of their work hours mentoring younger employees.
- Allows phased retirees to accrue pay raises and receive standard annual cost-of-living adjustments.
- Provides for such employees upon full retirement to receive a pension based on the full annuity earned before phased retirement and a new partial pension based on employment for the phased retirement period.
- Becomes effective after the Office of Personnel Management issues implementing regulations.
1The Office of Personnel Management may, by regulation, provide for alternative percentages ranging from 20 to 80 percent of work hours.