Political Quotes

Larry Combest: “this section corrects existing law which currently requires the CIA to make two payments, one of 9 percent, one of 15…”

On the recordMay 22, 1996
this section corrects existing law which currently requires the CIA to make two payments, one of 9 percent, one of 15 percent, for employees who take incentivized retirement from the CIA during fiscal years 1998, 1999. The CIA is required to make the Government retirement trust fund whole for those individuals who take these incentivized retirements. In order to do so, it must reimburse the Federal Government 15 percent of the final base pay of each individual who retires. Requiring the CIA to make an additional 9 percent payment becomes a penalty. Section 403 eliminates the double surcharge. This amendment is identical to one offered by the gentleman from Florida [Mr. Mica], chairman of the Subcommittee on Civil Service. It is my understanding that Mr. Dicks has no objections.
Said by
Larry Combest
Texas
Source
govinfo.gov

Editor's note · Context

Discussing amendments related to CIA retirement payments during a legislative session.

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