Page:United States Statutes at Large Volume 115 Part 2.djvu/260

 115 STAT. 1244 PUBLIC LAW 107-107—DEC. 28, 2001 "(h) No deposit may be made with respect to service credited under section 8411(b)(6). ". (B) The heading for such section is amended to read as follows: "§8422. Deductions from pay; contributions for other service". (C) The item relating to such section in the table of contents at the beginning of chapter 84 of title 5, United States Code, is amended to read as follows: "8422. Deductions from pay; contributions for other service.". (3) Section 8415 of such title is amended by adding at the end the following new subsection: "(j) The annuity of an employee retiring under this chapter with service credited under section 8411(b)(6) shall be reduced by the amount necessary to ensure that the present value of the annuity payable to the employee under this subchapter is actuarially equivalent to the present value of the annuity that would be payable to the employee under this subchapter if it were computed— "(1) on the basis of service that does not include service credited under section 8411(b)(6); and "(2) assuming the employee separated from service on the actual date of the separation of the employee. The amount of the reduction shall be computed under regulations prescribed by the Office of Personnel Management for the administration of this subsection.". 5 USC 8332 note. (c) APPLICABILITY. —The amendments made by this section shall apply only to separations from service as an employee of the United States on or after the date of the enactment of this Act. SEC. H33. MODIFICATION OF LIMITATIONS ON EXERCISE OF VOL- UNTARY SEPARATION INCENTIVE PAY AUTHORITY AND VOLUNTARY EARLY RETIREMENT AUTHORITY. (a) IN GENERAL.—Section 1153(b) of the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 (as enacted 5 USC 5597 note, into law by Public Law 106-398; 114 Stat. 1654A-323) is amended— (1) in paragraph (1)— (A) by striking "(1) Subject to paragraph (2), the" and inserting "The"; (B) by striking "in each of fiscal years 2002 and 2003, not more than 4000 employees of the Department of Defense are" and inserting "in fiscal year 2002 not more than 2000 employees of the Department of Defense are, and in fiscal year 2003 not more than 6000 employees of the Department of Defense are"; and (C) by redesignating subparagraphs (A) and (B) as paragraphs (1) and (2), respectively; and (2) by striking paragraph (2). 5 USC 5597 note. (b) CONSTRUCTION.— The amendments made by subsection (a) may be superceded by another provision of law that takes effect after the date of the enactment of this Act, and before October 1, 2003, establishing a uniform system of providing voluntary separation incentives (including a system for requiring approval of plans by the Office of Management and Budget) for employees of the Federal Government.

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