A bill to amend the Internal Revenue Code of 1954 to allow a temporary refundable income tax credit to Federal employees covered under the social security system for the amount of their contributions under a Federal retirement system.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a refundable income tax credit for the amount of contributions made to the Federal retirement system by Federal employees newly covered under the social security system after December 31, 1983. Disallows such credit for contributions made to a Federal retirement system: (1) established after the enactment of this Act; or (2) modified after the enactment of this Act for purposes of coordinating such system with the social security system. Terminates such credit after December 31, 1985.…