Federal Employees' Optional Early Retirement Act of 1986

[AI summary unavailable — showing source text] Federal Employees' Optional Early Retirement Act of 1986 - Authorizes early retirement during the 90-day period beginning 60 days after the date of enactment of this Act for certain Federal employees after: (1) completing 25 years of service; (2) becoming 50 years of age and completing 20 years of service; (3) becoming 55 years of age and completing 15 years of service; or (4) becoming 57 years of age and completing five years of service. Specifies those employees who are not eligible for such retirement. Subjects such retirement annuities to the applicable reduction for employees who retire under the age of 55. Directs the President to extend the early retirement provisions of this Act to: (1) participants in the Central Intelligence Agency Retirement and Disability System; (2) participants in the Foreign Service Retirement and Disability System; and (3) if determined appropriate, employees of the executive branch who are participants in any other Federal retirement system. Authorizes the President to exempt employees (other than postal employees) from early retirement provisions in cases of essential occupational categories, projects, or locations. Authorizes the head of an execu…