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PUBLIC LAW 541-MAY 28, 1956

such level as the Secretary determines will cause them to compete on equal terms on the market." (b) The amendment made by this section shall take effect with the 1956 crop. TRANSITIONAL PARITY FOR BASIC COMMODITIBS FROZEN DURING 1957

SEC. 602. Section 301(a)(1)(E) (ii) of the Agricultural Adjustment Act of 1938, as amended (7 U.S.C. 1301 (a)(1)(E) (ii)) is amended by inserting after "full calendar years" the following: "(not counting 1956 in the case of basic agricultural commodities) '. The Secretary shall make a thorough study of possible methods of improving the parity formula and report thereon^ with specific recommendations, including drafts of necessary legislation to carry 6ut such recommendations, to Congress not later than January 31, 1957. Approved May 28, 1956.

Public Law 541

Report to Co ngress.

CHAPTER 328

AN ACT To provide for continuance of life insurance coverage under the Federal Employees' Group Life Insurance Act of 1954, as amended, in the case of employees receiving benefits under the Federal Employees' Compensation Act.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That section 6 of the Federal Employees' Group Life Insurance Act of 1954, as amended, is amended to read as follows: " (a) Each policy purchased under this Act shall contain a provision, in terms approved by the Commission, to the effect that any insurance thereunder on any employee shall cease upon his separation from the service or twelve months after discontinuance of his salary payments, whichever first occurs, subject to a provision which shall be contained in the policy for temporary extension of coverage and for conversion to an individual policy of life insurance under conditions approved by the Commission. " (b) If upon such date as the insurance would otherwise cease the employee retires on an immediate annuity and (1) his retirement is for disability or (2) he has completed fifteen years of creditable service, as determined by the Commission, his life insurance only may, under conditions determined by the Commission, be continued without cost to him in the amounts for which he would have been insured from time to time had his salary payments continued at the same rate as on the date of cessation. Periods of honorable active service in the Army, Navy, Air Force, Marine Corps, or Coast Guard of the United States shall be credited toward the required fifteen years provided the employee has completed at least five years of civilian service. "(c) If upon such date as the insurance would otherwise cease the employee is receiving benefits under the Federal Employees' Compensation Act because of disease or injury to himself, his life insurance may, as provided in subsection (b), ho. continued during the period he is in receipt of such benefits and held by the United States Department of Labor to be unable to return to duty." SEC. 2. The amendment made by this Act shall become effective as of August 29, 1954. Approved May 28, 1956.

May 28. 1956 [S. 3237]

Federal emp l o y e e s ' insurance* 68 Stat. 739. 5 USC 2095. Termination, e t c.

Effective date.

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