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Full Text of this Amendment
At the appropriate place, insert the following:
SEC. __XX. 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.--
(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.
(As printed in the Congressional Record for the Senate on Mar 8, 2010.)