A bill to exclude locality adjustments from average pay for purposes of computing the amount of retirement annuities of new employees.

Bill 118 s 4833, titled "A bill to exclude locality adjustments from average pay for purposes of computing the amount of retirement annuities of new employees," aims to make a change to how retirement annuities are calculated for new employees in the United States. Specifically, the bill seeks to exclude locality adjustments from the average pay used in determining the amount of retirement annuities for these employees.

Locality adjustments are additional payments made to employees in certain areas to account for differences in the cost of living. By excluding these adjustments from the calculation of retirement annuities, the bill would likely result in lower annuity payments for new employees compared to current employees who receive these adjustments.

The rationale behind this bill is not explicitly stated, but it may be aimed at reducing costs associated with retirement benefits for new employees. It is important to note that this bill only applies to new employees, meaning that current employees who receive locality adjustments would not be affected. Overall, Bill 118 s 4833 proposes a change to how retirement annuities are calculated for new employees by excluding locality adjustments from the average pay used in the calculation. The potential impact of this change on new employees' retirement benefits is a key consideration in evaluating the bill.