DEPOSIT REQUIREMENT CREDIT FOR SERVICE AS A VOLUNTEER.

SEC. 371. DEPOSIT REQUIREMENT CREDIT FOR SERVICE AS A VOLUNTEER. (a) Civil Service Retirement System.— (1) Creditable service.— Section 8332(j) of title 5, United States Code, is amended— (A) in paragraph (1)— (i) in the first sentence, by inserting “the period of an individual’s service as a full-time volunteer enrolled in a program of at least 1 year’s duration under part A B, or C of title I of the Domestic Volunteer Service Act of 1973,” after “Economic Opportunity Act of 1964,”; (ii) in the second sentence, by inserting “, as a full-time volunteer enrolled in a program of at least 1 year’s duration under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973,” after “Economic Opportunity Act of 1964”; and (iii) in the last sentence— 107 STAT. 910 (I) by inserting “or under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973” after “Economic Opportunity Act of 1964”; and (II) by inserting “or the Chief Executive Officer of the Corporation for National and Community Service, as appropriate,” after “Director of the Office of Economic Opportunity”; and (B) by adding at the end the following new paragraph: “(3) The provisions of paragraph (1) relating to credit for service as a volunteer or volunteer leader under the Economic Opportunity Act of 1964, part A, B, or C of title I of the Domestic Volunteer Service Act of 1973, or the Peace Corps Act shall not apply to any period of service as a volunteer or volunteer leader of an employee or Member with respect to which the employee or Member has made the deposit with interest, if any, required by section 8334(1).”. (2) Deductions, contributions, and deposits.— (A) In general.— Section 8334 of title 5, United States Code, is amended by adding at the end the following new subsection: “(l) (1) Each employee or Member who has performed service as a volunteer or volunteer leader under part A of title VIII of the Economic Opportunity Act of 1964, as a full-time volunteer enrolled in a program of at least 1 year’s duration under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973, or as a volunteer or volunteer leader under the Peace Corps Act before the date of the separation on which the entitlement to any annuity under this subchapter is based may pay, in accordance with such regulations as the Office of Personnel Management shall issue, an amount equal to 7 percent of the readjustment allowance paid to the employee or Member under title VIII of the Economic Opportunity Act of 1964 or section 5(c) or 6(1) of the Peace Corps Act or the stipend paid to the employee or Member under part A B, or C of title I of the Domestic Volunteer Service Act of 1973, for each period of service as such a volunteer or volunteer leader. “(2) Any deposit made under paragraph (1) more than 2 years after the later of— “(A) October 1, 1993; or “(B) the date on which the employee or Member making the deposit first becomes an employee or Member, shall include interest on such amount computed and compounded annually beginning on the date of the expiration of the 2-year period. The interest rate that is applicable in computing interest in any year under this paragraph shall be equal to the interest rate that is applicable for such year under subsection (e). “(3) The Director of the Peace Corps and the Chief Executive Officer of the Corporation for National and Community Service shall furnish such information to the Office of Personnel Management as the Office may determine to be necessary for the administration of this subsection.”. (B) Conforming amendment.— Section 8334(e) of title 5, United States Code, is amended in paragraphs (1) and (2) by striking “or (k)” each place that such term appears and inserting “(k), or (1)”. (b) Federal Employees’ Retirement System.— 107 STAT. 911 (1) Creditable service.— Section 8411 of title 5, United States Code, is amended— (A) in subsection (b)(3), by striking “subsection (f)” and inserting “subsection (f) or (h)”; and (B) by adding at the end the following new subsection: “(h) An employee or Member shall be allowed credit for service as a volunteer or volunteer leader under part A of title VIII of the Economic Opportunity Act of 1964, as a full-time volunteer enrolled in a program of at least 1 year’s duration under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973, or as a volunteer or volunteer leader under the Peace Corps Act performed at any time prior to the separation on which the entitlement to any annuity under this subchapter is based if the employee or Member has made a deposit with interest, if any, with respect to such service under section 8422(f).”. (2) Deductions, contributions.— Section 8422 of title 5, United States Code, is amended by adding at the end the following new subsection: “(f) (1) Each employee or Member who has performed service as a volunteer or volunteer leader under part A of title VIII of the Economic Opportunity Act of 1964, as a full-time volunteer enrolled in a program of at least 1 year’s duration under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973, or as a volunteer or volunteer leader under the Peace Corps Act before the date of the separation on which the entitlement to any annuity under this subchapter, or subchapter V of this chapter, is based may pay, in accordance with such regulations as the Office of Personnel Management shall issue, an amount equal to 3 percent of the readjustment allowance paid to the employee or Member under title VIII of the Economic Opportunity Service Act of 1964 or section 5(c) or 6(1) of the Peace Corps Act or the stipend paid to the employee or Member under part A, B, or C of title I of the Domestic Volunteer Service Act of 1973, for each period of service as such a volunteer or volunteer leader. “(2) Any deposit made under paragraph (1) more than 2 years after the later of— “(A) October 1, 1993, or “(B) the date on which the employee or Member making the deposit first becomes an employee or Member, shall include interest on such amount computed and compounded annually beginning on the date of the expiration of the 2-year period. The interest rate that is applicable in computing interest in any year under this paragraph shall be equal to the interest rate that is applicable for such year under section 8334(e). “(3) The Director of the Peace Corps and the Chief Executive Officer of the Corporation for National and Community Service shall furnish such information to the Office of Personnel Management as the Office may determine to be necessary for the administration of this subsection.”. (c) Applicability and Other Provisions.— (1) Applicability.— (A) Amendments relating to csrs.— (i) In general.— The amendments made by subsection (a) shall apply with respect to any individual entitled to an annuity on the basis of a separation 107 STAT. 912from service occurring on or after the effective date of this subtitle. (ii) Rules relating to annuities based on earlier separations.— An annuity under subchapter III of chapter 83 of title 5, United States Code, payable to an individual based on a separation from service occurring before the effective date of this subtitle shall be subject to the provisions of paragraph (2). (B) Amendments relating to fers.— (i) In general.— The amendments made by subsection (b) shall apply with respect to any individual entitled to an annuity on the basis of a separation from service occurring before, on, or after the effective date of this subtitle, subject to clause (ii). (ii) Rule relating to annuities based on earlier separations.— In the case of any individual whose entitlement to an annuity is based on a separation from service occurring before the effective date of this subtitle, any increase in such individual’s annuity on the basis of a deposit made under section 8442(f) of title 5, United States Code, as amended by subsection (b)(2), shall be effective beginning with the annuity payment payable for the first calendar month beginning after the effective date of this subtitle. (2) Special rules.— (A) Old-age or survivors insurance benefits.— Subject to subparagraph (B), in any case in which an individual described in paragraph (1)(A)(ii) is also entitled to old- age or survivors insurance benefits under section 202 of the Social Security Act (or would be entitled to such benefits upon filing an application therefor), the amount of the annuity to which such individual is entitled under subchapter III of chapter 83 of title 5, United States Code (after taking into account any creditable service as a volunteer or volunteer leader under the Economic Opportunity Act of 1964, the Domestic Volunteer Service Act of 1973, or the Peace Corps Act) which is payable for any month shall be reduced by an amount determined by multiplying the amount of such old-age or survivors insurance benefit for the determination month by a fraction— (i) the numerator of which is the total of the wages (within the meaning of section 209 of the Social Security Act) for service as a volunteer or volunteer leader under the Economic Opportunity Act of 1964, the Domestic Volunteer Service Act of 1973, or the Peace Corps Act of such individual credited for years before the calendar year in which the determination month occurs, up to the contribution and benefit base determined under section 230 of the Social Security Act (or other applicable maximum annual amount referred to in section 215(e)(1) of such Act for each such year); and (ii) the denominator of which is the total of all wages described in clause (i), plus all other wages (within the meaning of section 209 of such Act) and a.11 self-employment income (within the meaning of section 211(b) of such Act) of such individual credited 107 STAT. 913for years after 1936 and before the calendar year in which the determination month occurs, up to the contribution and benefit base (or such other amount referred to in section 215(e)(1) of such Act for each such year. (B) Limitations.— (i) Reduction in annuity.— Subparagraph (A) shall not reduce the annuity of an individual below the amount of the annuity which would be payable to the individual for the determination month if the provisions of section 8332(j) of title 5, United States Code, relating to service as a volunteer or volunteer leader, applied to the individual for such month. (ii) Application.— Subparagraph (A) shall not apply in the case of an individual who, prior to the date of enactment of this Act, made a deposit under section 8334(c) of title 5, United States Code, with respect to service as a volunteer or volunteer leader (as described in subparagraph (A)). (iii) Determination month.— For purposes of this paragraph, the term “determination month” means— (I) the first month the individual described in paragraph (1)(A)(ii) is entitled to old-age or survivors benefits under section 202 of the Social Security Act (or would be entitled to such benefits upon filing an application therefor); or (II) the first calendar month beginning after the date of enactment of this Act, in the case of any individual entitled to such benefits for such month. (iv) Rule relating to annuities based on earlier separations.— Any increase in an annuity which occurs by virtue of the enactment of this paragraph shall be effective beginning with the annuity payment payable for the first calendar month beginning after the effective date of this subtitle. (3) Furnishing of information.— The Secretary of Health and Human Services shall furnish such information to the Office of Personnel Management as may be necessary to carry out this subsection. (4) Action to inform individuals.— The Director of the Office of Personnel Management shall take such action as may be necessary and appropriate to inform individuals entitled to credit under this section for service as a volunteer or volunteer leader, or to have any annuity recomputed, or to make a deposit under this section, of such entitlement.