Legislation Would Make a Deferred Annuity a Better Deal Washington Post (01/15/02) Vol. 32, No. 1 p.B2; Barr, Stephen
New legislation in the House would increase the value of deferred retirement payments in the pension system for federal employees. The bill seeks to enhance deferred annuities---based on the average increase in General Schedule salaries---while providing an incentive for departing employees to leave their retirement money in the hands of the government. Currently those employees who leave their federal jobs before retirement age are eligible for a deferred annuity, payable at 62---provided they have worked for the government for at least five years.