Page:United States Statutes at Large Volume 74.djvu/879

 74

STAT.]

PUBLIC LAW 86-723-SEPT. 8, 1960

889

step-child or recognized natural child who received more than onehalf of his support from the participant." SEC. 33. Section 811 of such Act is amended to read as follows: R^tV^of*°cortri"SEC. 811. (a) Six and one-half per centum of the basic salary re- bution. ceived by each participant shall be contributed to the Fund for the payment of annuities, cash benefits, refunds, and allowances. An equal sum shall also be contributed from the respective appropriation or fund which is used for payment of his salary. The amounts deducted and withheld from basic salary together with the amounts so contributed from the appropriation or fund, shall be deposited by the Department of State in the Treasury of the United States to the credit of the Fund. " (b) Each participant shall be deemed to consent and agree to such deductions from basic salary, and payment less such deductions shall be a full and complete discharge and acquittance of all claims and demands whatsoever for all regular services during the period covered by such payment, except the ri^ht to the benefits to which he shall be entitled under this Act, notwithstanding any law, rule, or regulation affecting the individual's salary." SEC. 34. (a) Paragraphs (a), (b), and (c) of section 821 of such Act " use io76. are amended to read as follows: "SEC. 821. (a) The annuity of a participant shall be equal to 2 per ^^** °* °^""y* centum of his average basic salary for the highest five consecutive years of service, for which full contributions have been made to the Fund, multiplied by the number of years, not exceeding thirty-five, of service credit obtained in accordance with the provisions of sections 851,852, and 853. However, the highest five years of service for which 8«f ^'' ^^* ^^^' full contributions have been made to the F u n d shall be used in com- 22 USC 1093. puting the annuity of any participant who serves as chief of mission and whose continuity of service as such is interrupted prior to retirement by appointment or assignment to any other position determined by the Secretary to be of comparable importance. In determining the aggregate period of service upon which the annuity is to be based, the fractional part of a month, if any, shall not be counted. "(b) At the time of retirement, any married participant may elect nu^y.*^""" °' °"" to receive a reduced annuity and to provide for an annuity payable to his wife or her husband, commencing on the date following such participant's death and terminating upon the death of such surviving wife or husband. The annuity payable to the surviving wife or husband after such participant's death shall be 50 per centum of the amount of the participant s annuity computed as prescribed in paragraph (a) of this section, up to the full amount of such annuity specified by him as the base for the survivor benefits. The annuity of the participant making such election shall be reduced by 2i^ per centum of any amount up to $2,400 he specifies as the base for the survivor benefit plus 10 per centum of any amount over $2,400 so specified. Su "(c) (^1) If an annuitant dies and is survived by a wife or husband nulty.r v i v o r ' s ar»» and by a child or children, in addition to the annuity payable to the surviving wife or husband, there shall be paid to or on behalf of each child an annuity equal to the smallest of: (i) 40 per centum of the annuitant's average basic salary, as determined under paragraph (a) of this section, divided by the number of children; (ii) $600; or (iii) $1,800 divided by the number of children. "(2) If an annuitant dies and is not survived by a wife or husband but by a child or children, each surviving child shall be paid an annuity equal to the smallest of: (i) 50 per centum of the annuitant's average basic salary, as determined under paragraph (a) of this section, divided by the number of children; (li) $720; or (iii) $2,160 divided by the number of children."

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