To amend chapter 84 of title 5, United States Code, to provide that annuities for Members of Congress be computed under the same formula as applies to Federal employees generally, and for other purposes.

Amends Federal employees' retirement law to compute annuities for Members of Congress under the same formula as applies to Federal employees generally. Subjects Members to the same guidelines as apply to Federal employees with respect to deductions from pay and Government contributions for retirement plans.