Page:United States Statutes at Large Volume 49 Part 1.djvu/2066

 7 4TH C ONGRESS. SESS. II. CH. 859. JU NE 29, 1936 . 20 21 further, That the number of years of service to be used in computing Years of service. the annui ty under paragra phs (1) and (3) of this section shall n ot exceed the difference between thirty and the number of years of allowable service rendered prior to July 1, 1935. The annuity granted under paragraphs (1), (3), and (4) of this Ann ui ty limited to three-fourths average section s hall not exceed three-fo urths of the av erage an nual bas ic annua l salar y, etc . salary, pay, or compensation received by the employee during any five consecutive years of allowable service at the option of the employ ee. Any emplo yee at t he time of his r etiremen t may e lect to receive, employee's on pity at in lieu of the life annuity herein described, an increased annuity of equivalen t value which sh all carr y with i t a pro viso tha t no une x- pended part of the principal upon the annuitant's death shall be returned. For the purposes of this Act all periods of service shall r ; ooops ~ i ens of pe. be computed in accordance with section 7 hereof, and the annuity shall be fixed at the nearest multiple of twelve. The term "basic salar, a or compensation", wherever used in "Basic salary, pay, Y~ pa y, or compensation ', eon- this Act, shall be so construed as to exclude from the operation of str ued . the Act all bonuses, allowances, overtime pay, or salary, pay, or com- pensation give n in addition to the base pay of the pos ition as fixe d by law or regulation . SEC . 7. Subject to the rovisions of section 8 hereof, the service Accredited service. h Periods included . which shall form the basis for calculating the amount of any benefit provided in this Act shall be computed from the date of original employment, whether as a classified or an unclassified employee, in the civil service of the United States or under the municipal govern- ment of the District of Columbia, including periods of service at different times a nd in on e or mor e depart ments, branches, or ind e- pendent offices of the Government and service in Alaska with the Ala ska En gin eer ing Co mm iss ion and the Alaska Railroad, or of either of them, and service on the Isthm us of Panama with the Isthmian Canal Commission, the Panama Canal, or the Panama Railroad Company ; also periods of service performed overseas under Overseas, military, authority of the United S tates an d period s of ho norable service in naval, etc' the Army, Navy, M arine Co rps, or Coast Gu ard of the Unit ed State s. In the case of an employee, however, who is eligible for and elects Deduction of periods for which military, to receive a pension under any law, or retired pay on account of f etc., pension paid military or naval service, or compen sation unde r the War Ri sk Insurance Act, the period of his military or naval service upon which such pension, retired pay, or compensation is based shall not be inc luded, but not hing in this Act shall be so construed a s to affect i n any manner his right to a pension, or to retired pay, or to compensa- tion under the War Risk Insurance Act in addition to the annuity herein provided. In computing length of service for the purposes of this Act all Per io ds of separa- periods of separations from the service, and so much of any leave of tions, etc., excluded. absence without pay as may exceed six months in the aggregate in any calendar year, shall be excluded. In determining the total periods of service upon which the allow- Fractions of months. ances are to be computed under section 6 hereof, the fractional part of a mont h, if an y, shall be elim inated f rom eac h respec tive tot al period. SEC. 8 . All employees coming within the provisions of this Act Past serv ice. Depos its to credit of after the effective date thereof shall be required to deposit with the fund b y employees Treasurer of the United States to the credit of the Alaska Railroad o ought Ac within pur- retirement and disability fund referred to in section 9 hereof, under rules to be prescribed by the United States Civil Service Commis- sion, a sum equal to 21/2 per centum of the employee's basic salary,