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EPIC Act

Source: Congress.gov  ·  1,347 words in original text
This bill stops Congress members from earning new retirement benefits under two federal retirement systems, starting when the bill becomes law. Congress members can still participate in the Thrift Savings Plan (a retirement savings account that federal employees can use). The bill protects retirement benefits that Congress members already earned before this law takes effect.
Congress members (both current and future), except the Vice President. Federal agencies that manage retirement benefits for Congress members. The Department of Labor and the Executive Director overseeing retirement accounts.
• Congress members cannot earn new retirement benefits under the Civil Service Retirement System starting on the bill's
Congress members stop earning new pension (a regular payment after retirement) benefits immediately upon the bill's enactment. No government money goes toward new retirement benefits for Congress members under these two systems going forward. Congress members who were already covered can opt to keep their old benefits within 90 days.
The bill defines "Member" as Congress members but excludes the Vice President (Sec. 2 and Sec. 3). The bill does not define other key terms.
The date the bill becomes law, described as "the date of enactment of this section" (Sec. 2 and Sec. 3).
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.