Managerial Flexibility Act of 2001

[AI summary unavailable — showing source text] Managerial Flexibility Act of 2001 - Revises and establishes provisions concerning Federal employee management, Federal retirement funding, and Federal management of real and personal property. Sets forth provisions governing voluntary separation incentive payments. Revises: (1) eligibility criteria for voluntary early retirement; (2) Federal employee recruitment, relocation, and retention bonus provisions (increasing the amount which may be paid for critical need employees); (3) criteria for providing employees academic degree training; (4) provisions governing special pay authority; and (5) annuity computation for part-time service. Permits all Federal employees to keep their frequent travel program benefits resulting from U.S. paid travel. Makes certain student volunteers eligible under agency programs to encourage commuting by means other than single-occupancy motor vehicles. Establishes a separate annual pay cap applicable to certain senior-level and senior executive positions. Repeals the senior executive recertification requirement. Authorizes an annual leave credit for certain senior level and senior executive employees. Revises provisions concerning personnel management de…