S. 1888 — Introduced in Senate

II 115th CONGRESS 1st Session S. 1888 IN THE SENATE OF THE UNITED STATES September 28, 2017 Mr. Lankford introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To amend title 5, United States Code, to increase the maximum amount of a Voluntary Separation Incentive Payment and to include an annual adjustment in accordance with the Consumer Price Index. 1. Short title This Act may be cited as the Voluntary Separation Incentive Payment Adjustment Act of 2017. 2. Voluntary separation incentive pay increase (a) In general Section 3523 of title 5, United States Code, is amended— (1) in subsection (b)(3)(B), by striking $25,000 and inserting $40,000, as adjusted in accordance with subsection (c); and (2) by adding at the end the following: (c) Consumer price index adjustment (1) In general On March 1 of each year, the Director of the Office of Personnel Management shall adjust the amount under subsection (b)(3)(B) by the amount determined by the Secretary of Labor to reflect the percentage increase between— (A) the Consumer Price Index (all items; United States city average) published for December of the preceding year; and (B) the Consumer Price Index (all items; United States city average) published for December of the year before the preceding year. (2) Rounding In making an adjustment under paragraph (1), the Director of the Office of Personnel Management shall— (A) round the percentage increase to the nearest 1/10 of 1 percent; and (B) round the amount of the adjustment to the nearest multiple of $1,000. . (b) Department of Defense Section 9902(f)(5) of title 5, United States Code, is amended— (1) in subparagraph (A)(ii), by striking $25,000 and inserting an amount determined by the Secretary, not to exceed $40,000, as adjusted in accordance with subparagraph (D); and (2) by adding at the end the following: (D) (i) On March 1 of each year, the Secretary of Defense shall adjust the amount under subparagraph (A)(ii) by the amount determined by the Secretary of Labor to reflect the percentage difference between— (I) the Consumer Price Index (all items; United States city average) published for December of the preceding year; and (II) the Consumer Price Index (all items; United States city average) published for December of the year before the preceding year. (ii) In making an adjustment under clause (i), the Secretary of Defense shall— (I) round the percentage increase to the nearest 1/10 of 1 percent; and (II) round the amount of the adjustment to the nearest multiple of $1,000. .