Page:United States Statutes at Large Volume 83.djvu/166

 138

PUBLIC LAW 91-93-OCT. 20, 1969

Unfunded liability obligations.

Report to P r e s i d e n t and Congress. Effective date.

80 Stat. 4 0 3. Repeal.

[83 STAT.

ments with interest conmuted at the rate used in the then most recent valuation of the Civil Service Retirement System and with the first payment thereof due as of the end of the fiscal year in which each new or liberalized benefit, extension of coverage, or increase in pay is effective. " (g) A t the end of each fiscal year, the Commission shall notify the Secretary of the Treasury of the amount equivalent to (1) interest on the unfunded liability computed for that year at the interest rate used in the then most recent valuation of the System, and (2) that portion of disbursement for annuities for that year which the Commission estimates is attributable to credit allowed for military service. Before closing the accounts for each fiscal year, the Secretary shall credit to the Fund, as a Government contribution, out of any money in the Treasury of the United States not otherwise appropriated, the following percentages of such amounts: 10 percent for 1971; 20 percent for 1972; 30 percent for 1973; 40 percent for 1974; 50 percent for 1975; 60 percent for 1976; 70 percent for 1977; 80 percent for 1978; 90 percent for 1979; and 100 percent for 1980 and for each fiscal year thereafter. The Commission shall report to the President and to the Congress the sums credited to the Fund under this subsection.". (b)(1) The provisions of subsection (g) of section 8348 of title 5, United States Code, as contained in the amendment made by subsection (a)(2) of this section, shall become effective at the beginning of the fiscal year which ends on June 30, 1971. (2) Paragraph (1) of this subsection shall not be held or considered to continue in effect after the enactment of this Act the provisions of section 8348(g) of title 5, United States Code, as in effect immediately prior to such enactment. SEC. 104. Section 1308(c) of title 5, United States Code, is amended by striking out "on a normal cost plus interest basis". SEC. 105. The proviso under the heading " C IV I L SERVICE COMMISSION " and under the subheading " P A Y M E N T TO CIVIL SERVICE RETIREMENT AND DISABILITY F U N D " m title I of the Independent Offices Appropriation.Act, 1962 (75 Stat. 345; Public Law 87-141), is repealed. TITLE II—CIVIL SERVICE RETIREMENT BENEFITS

Average pay computation. 80 Stat. 566.

Pose, p. 140. 80 Stat. 5 6 9.

Ante,

p. 136.

80 Stat. 569; 81 Stat. 2 1 4.

%

SEC. 201. (a) Paragraph (4)(A) of section 8331 of title 5, United States Code, is amended to read as follows: " (A) over any 3 consecutive years of creditable service or, in the case of an annuity under subsection (d) or (e)(1) of section 8341 of this title based on service of less than 3 years, over the total service; or". (b) Subsection (c) of section 8333 of title 5, United States Code, is amended to read as follows: "(c) A Member or his survivor is eligible for an annuity under this subchapter only if the amounts named by section 8334 of title 5 have been deducted or deposited with respect to his last 5 years of civilian service, or, in the case of a survivor annuity under section 8341(d) or (e)(1) of this chapter, with respect to his total service." SEC. 202. Subsection (g) of section 8334 of title 5, United States Code, is amended— (1) by striking out the word "or" at the end of paragraph (3); (2) by striking out the period at the end of paragraph (4) and inserting in lieu thereof a semicolon and the word "or"; and (3) by adding the following new paragraph immediately below paragraph (4):

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