Page:United States Statutes at Large Volume 104 Part 3.djvu/495

 PUBLIC LAW 101-510—NOV. 5, 1990 104 STAT. 1847 Panama Canal Commission before January 1, 2000, and who at the time of separation has a minimum of 11 years of continuous employ- ment with the Commission (disregarding any break in service of 3 days or less) is entitled to an annuity if the employee is separated— "(A) involuntarily, after completing 20 years of service or after becoming 48 years of age and completing 18 years of service, if the separation is a result of the implementation of any provision of the Panama Canal Treaty of 1977 and related agreements; or "(B) voluntarily, after completing 23 years of service or after becoming 48 years of ag^ and completing 18 years of service.". (b) COMPUTATION. —Section 8339(d) of title 5, United States Code, is amended by redesignating paragraphs (3) through (6) as paragraphs (4) through (7), respectively, and by inserting after paragraph (2) the following: "(3) The annuity of an employee retiring under this subchapter who is employed by the Panama Canal Commission at any time during the period beginning October 1, 1990, and ending December 31, 1999, is computed, with respect to any period of service with the Panama Canal Commission, by adding— "(A) IVi percent of the employee's average pay multiplied by so much of that service as does not exceed 20 years; plus "(B) 2 percent of the employee's average pay multiplied by so much of that service as exceeds 20 years.". (c) UNFUNDED LIABILITY. —Section 8348(i)(l) of title 5, United States Code, is amended by striking "1979." and inserting "1979, and the amendments made by section 3506 of the Panama Canal Commission Authorization Act for Fiscal Year 1991.". SEC. 3507. AMENDMENTS TO PANAMA CANAL COMPENSATION FUND ACT OF 1988 Section 5 of the Panama Canal Commission Compensation Fund Act of 1988 (22 U.S.C. 3715c) is amended— (1) by striking "Upon the termination of the Panama Canal Commission:"; (2) in subsection (a)— (A) by striking "The Secretary of Labor" and inserting "Upon the termination of the Panama Canal Commission, the Secretary of Labor"; and (B) by striking the last sentence; (3) in subsection (b)— (A) by inserting "under subsection (a)" after "Secretary of Labor"; and (B) by striking "Employees Compensation"; and (4) by adding at the end the following new subsection: "(c) CONTINUITY OF THE FUND.—(1) Amounts in the Fund (including amounts transferred as a result of the final determination made under subsection (a)) shall be maintained by the Secretary of the Treasury, shall be made available for transfer to the Employees' Compensation Fund in such amounts as are requested by the Secretary of Labor pursuant to section 4, and may be discontinued only in accordance with paragraph (2). "(2) At such time as the Secretary of Labor certifies that no further liability exists for workers compensation benefits or other payments described in section 3(a), the Secretary of the Treasury may discontinue the Fund in the manner provided by law.".

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