Federal Annuity and Investment Reform Act of 1985

[AI summary unavailable — showing source text] Federal Annuity and Investment Reform Act of 1985 - Title I: Federal Thrift Plan - Establishes the Federal Thrift Plan. Permits an active participant (a Federal employee or Member of Congress) to elect to contribute in any year up to ten percent of such participant's annual basic pay or $6,000 to a thrift retirement account. Defines such account as a qualified investment program or the Federal Fund. Requires the employing agency of an active participant who is a post 83-employee (as defined in title II of this Act) and who contributes to a thrift retirement account, to contribute to a thrift retirement account established for the participant within the Federal Fund an amount equal to the amount contributed by the participant, or three percent of the participant's basic pay, whichever is less. Declares that such agency contributions shall be made after the post-83 employee completes one year of service. Provides for the treatment of breaks in service. Allows active participants to change designated accounts once during each year and provides for fund transfers to new accounts. Excludes amounts deducted from the basic pay of an active participant, and the contributions of an employin…