Page:United States Statutes at Large Volume 46 Part 1.djvu/1515

 1472 Final separation ex- cept in special cases. Superannuation re- tirement. Age and service re- q uire ment. Past, p. 1474. Option allowed em- plo yee. Vol untar y ret ire- ment. A ge and service re- SEc. 3. (a) Any employee to whom this Act applies who shall qu irem ent. have attained the age of fifty-five and rendered at least twenty-five computation of an- years of service, of which not less than fifteen years shall have been nuity. rendered on the Isthmus of Panama, may voluntarily retire on an annuity equivalent in value to the present worth of a deferred annuity beginning at the age at which the employee would other- wise have become eligible for retirement, computed as provided in section 6 of this Act, the present worth of said deferred annuity to be determined on the basis of the American Experience Table of Mortality and an interest rate of 4 per centum, compounded annually. (b) Any employee to whom this Act applies may voluntarily retire on an annuity computed as provided in section 6, who shall have attained the age of fifty-five and rendered at least thirty years of service on the Isthmus of Panama (inclusive of absences while in the service of the United States during the World War), of which not less than three years shall have been in the employment of the I sthmi an Ca nal Commi ssio n or the Panam a Ra ilroa d Com pany between May 4, 1904, and April 1, 1914. Post, p. 1474. Disabil ity reti rement. Annuity allowed on application of Governor if physically or men- tally disqualified. Pro vis o. Medical examination required. If totally disabled. SEVENTY-FIRST C ONGRESS. SEss. III. CH. 375. 1931 . Provided, Iwwever, That no employee shall be continued in the service beyond the age of retirement for more than four years, except that where the Governor of the Panama Canal certifies, and t he Civil Service Commissi on agree s, that by reaso n of exp ert knowl - edge and special qualifications the continuance of the employee would be advantageous to the service, further extensions of two years may be granted. All employees to whom this Act applies who would be eligible for retirement from the service upon attaining the age of sixty-two years shall, after attaining the age of sixty years and having ren- d ered at least th irty year s servic e, compu ted as p rovided in sectio n 7, of this Act, be eligible for retirement on an annuity as provided in section 6 of this Act. Retirement under the provisions of this p aragraph shall b e at the option o f the em ployee, but if s uch optio n is not exercised prior to the date upon which the employee would otherwise be eligible for retirement from the service, the provisions of this Act with respect to automatic separation from the service shall apply. VOLUNTARY RETIREMENT DISABILITY RETIREMENT-MEDICAL EXAMINATIONS REQUIRED SEC. 4 . (a) Any employee to whom this Act applies who shall have attained the age of fifty-five years and shall have rendered at least fifteen years of service on the Isthmus of Panama, and who shall have become physically or mentally disqualified to perform satisfactorily and efficiently the duties of his position or of any other position of approximately equal compensation to which he might be assigned, because of the strenuous or hazardous nature of such position, shall, upon the request or order of the Governor of the Panama Can al, be retired on an annuity c omputed in accordance with the provisions of section 6 hereof : Provided, That no such employees shall be so retired except after an examination and finding as to his mental or physical disqualifications as hereinafter provided. (b) An y employ ee to wh om this Act app lies who shall h ave served for a total period of not less than five years, and who, before becoming eligible for retirement under the conditions defined in section 2 hereof, shall have become totally disabled for useful

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