Page:United States Statutes at Large Volume 46 Part 1.djvu/518

 SEVE NTY-F IRST CONGRESS. SEss. IL CH.349. 1930 . 475 BENEFI TS EXTEND ED TO THO SE A LRE ADY RETIRE D Retired employees. SEC. 8 . In the case of those who before the effective date of this tend dto. of Act shall have been retired on annuity under the provisions of the Act of May 22, 1920, or said Act as amended, or as extended by Executive orders, the annuity shall be computed, adjusted, and paid under the provisions of this Act, but this Act shall not be so construed as to reduce the annuity of any person retired before its effective date, nor shall any increase in annuity commence before such effecti ve date. CREDIT FOR PA ST SERVICE Past service. Deposits to credit of SEC. 9. Beginning with the effective date of this Act, all fund by employees employees who may be brought then or thereafter within the purview hereafter r o ug t with- of the Act by legislative enactment, or by appointment, or through to July 1, Ju ly 6 31, 1920, classification, or by transfer, or reinstatement, or Executive order, or otherwise, shall be required to deposit with the Treasurer of the United States to the credit of the "civil-service retirement and dis- ability fund " a sum equal to 21/2 per centum of the employee's basic salary, pay, or compensation received for services rendered after V ol. 4q4, • p. 9 10, July 31, 1920, and prior to July 1, 1926, and also 31/2 per centum amended. of the basic salary, pay, or compensation for services rendered from and after July 1, 1926, together with interest computed at the rate of 4 per centum per annum compounded on June 30 of each fiscal year, but such interest shall not be included for any period during which the employee was separated from the service. All employees meats during c insta- who may hereafter be brought within the purview of this Act may ante of service, elect to make such deposits in installments during the continuance of their service in such amounts and under such conditions as may be Post, p.1016. determined in each instance by the Commissioner of Pensions. The amount so deposited, less $1 for each month, or major fraction thereof, Post. p. 476 . of service after the effective date of this Act, shall be credited to the emp loyee's individua l accoun t, as pr ovided i n section 12 (a) hereof. Upon making such deposit the employee shall be entitled to credit for the period or periods of service involved : Provided, That failure Pcevise. to make such deposit shall not deprive the employee of credit for credit for s not to ervice ed it service prior or r any past service rendered prior to August 1, 1920, to which he or to August 1, 192 0. she would otherwise be entitled. DEDUC TIONS AND DONATIONS Ded uctions and do- nations. SEC. 10 . Beginning as of July 1, 1926, there shall be deducted and from salaries. withheld from the basic salary, pay, or compensation of each em ploye e to whom this Act appl ies a sum equa l to 31/2 per cen tum of such employee's basic salary, pay, or compensation. The amounts Re gul atio ns to be so deducted and withheld from the basic salary, pay, or compensa- prescribed . tion of each employee shall, in accordance with such procedure as may be prescribed by the Comptroller General of the United States, fund. ansferredtospecial be deposited in the Treasury of the United States to the credit of Vol. 41, p . 618. the "civil-service retirement and disability fund" created by the Act of May 22, 1920, and said fund is hereby appropriated for the fromppropriationsthere payment of annuities, refunds, and allowances as provided in this Act. The Secretary of the Treasury is hereby authorized and empow- Acc eptance and ap- plication of donations Bred in carrying out the provisions of this Act to supplement the to fund. individual contributions of employees wi th moneys received in the form of donations, gifts, legacies, or bequests, or otherwise, and to receive, deposit, and invest for the purposes of this Act all moneys which may be contributed by private individuals or corporations or organizations for the benefit of civil-service employees generally. Act ex-

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