To amend title 5, United States Code, to allow Federal employees within any agency undergoing a major reorganization, reduction in force, or transfer of function to be credited with an additional 4 years (in age or length of service) in order to encourage voluntary retirements, and for other purposes.

Federal Employees Retirement Incentive Act - Allows certain Federal employees serving in entities undergoing a major reorganization, reduction in force, or transfer of functions to elect to have four years added to their age upon separation, their total creditable service, or a combination thereof (not to exceed four years) for purposes of determining retirement eligibility and benefits under...