Statement of Administration Policy: H.R. 807 - Federal Reserve Board Retirement Portability Act

STATEMENT OF ADMINISTRATION POLICY

(House)

(Rep. Scarborough (R) FL and 8 cosponsors)

The Administration supports House passage of H.R. 807. The bill would allow Federal Reserve Board employees to count their service with the Board toward other Federal retirement plans if and when they later are employed by another Federal agency.

Pay-As-You-Go Scoring

H.R. 807 would affect direct spending and receipts; therefore, it is subject to the pay-as-you-go (PAYGO) requirement of the Omnibus Budget Reconciliation Act of 1990. OMB's preliminary estimate indicates, however, that the PAYGO effect of H.R. 807 would be minimal.