Search Results: keywords:"locality adjustments"

  • S. 4833 — To exclude locality adjustments from average pay for purposes of computing the amount of retirement annuities of new employees.
    Status:Introduced in Senate
    Words:388

    S. 4833, titled the "Federal Employee Locality Accountability in Retirement Act," seeks to change how retirement annuities for new federal employees are calculated. It proposes excluding locality-based salary adjustments from the average pay used to compute retirement benefits. This means...

    Simple Explanation

    Imagine if your allowance was sometimes a little bigger if you did extra chores in certain places, but when you grow up, your savings don't count those extra bits. This bill says when people start working for the government, the extra money they earn for living in certain places won't count towards their retirement savings.

  • S. 26 — To exclude locality adjustments from average pay for purposes of computing the amount of retirement annuities of new employees.
    Status:Introduced in Senate
    Words:364

    S. 26 aims to change how retirement annuities are calculated for new federal employees by removing locality-based pay adjustments from the calculation of their average pay. This means that the additional pay given to employees based on where they live will not be included...

    Simple Explanation

    S. 26 is a plan to change how the U.S. calculates retirement pay for new government workers by not counting extra money given for expensive places like big cities. This means these workers might get less money when they retire if they work in such areas.