H.R. 4431 explicitly authorizes agencies that have committed an administrative error in calculating a military service deposit for a federal employee’s pension to pay the interest accrued as a result of the mistake on behalf of the veteran. It also authorizes agencies to pay similarly assessed interest for former members of the Peace Corps or AmeriCorps.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Dec 22, 2018.
Correcting Miscalculations in Veterans' Pensions Act
This bill authorizes federal agencies to pay on behalf of an employee, Member, or annuitant any additional interest assessed as a result of certain administrative errors in processing annuity deposit amount. Specifically, in calculating amounts that employees with prior military service may pay into their federal retirement account, an agency may pay interest that accrues to the employee for the agency's calculation error.