S.Amdt. 3432

SA 3432. Mr. AKAKA submitted an amendment intended to be proposed to
amendment SA 3336 proposed by Mr. Baucus to the bill H.R. 4213, to
amend the Internal Revenue Code of 1986 to extend certain expiring
provisions, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. ____. TREATMENT FOR CERTAIN EMPLOYEES PAID SAVED OR
RETAINED RATES.

(a) In General.--Section 1918(a)(3) of the Non-Foreign Area
Retirement Equity Assurance Act of 2009 (5 U.S.C. 5304 note)
is amended by striking ``January 1, 2012'' and inserting
``January 1, 2010''.
(b) Interim Pay Adjustments.--
(1) Adjustments.--
(A) In general.--Until the Director of the Office of
Personnel Management prescribes regulations in accordance
with the amendment made by subsection (a), for employees
receiving a cost-of-living allowance under section 5941 of
title 5, United States Code, and a retained rate under
section 5363 of that title, agencies shall--
(i) calculate the adjustment under section 5363(b)(2)(B) of
that title based on a maximum rate of basic pay, excluding
any locality-based comparability payment; and
(ii) provide an additional adjustment reflecting the full
increase in the locality-based comparability payment that
would apply to the employee but for receipt of a retained
rate.
(B) Guidance.--Not later than 30 days after the date of
enactment of this Act, the Director of the Office of
Personnel Management shall issue guidance for carrying out
paragraph (1).
(C) Other pay systems.--For employees in another pay system
that receive a retained rate equivalent to a retained rate
under section 5363 of title 5, United States Code, equivalent
treatment shall be provided, consistent with section 1918(b)
of the Non-Foreign Area Retirement Equity Assurance Act of
2009.
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