Page:United States Statutes at Large Volume 93.djvu/944

 93 STAT. 912

PUBLIC LAW 96-122—NOV. 17, 1979

Ante, p. 868.

District of Columbia Retirement Reform Act) for deposit in the District of Columbia Police Officers and Fire Fighters' Retirement Ante, p. 872. Fund established by section 122(a) of such Act. All other members shall deposit such sums with the Mayor of the District of Columbia for credit to the revenues of the District of Columbia. If the member so elects, he may deposit the total amount of such refund in monthly installments not exceeding twenty-four, except that in the case of a member who is an officer or member of the United States Park Police force, the Executive Protective Service, or the United States Secret Service Division, such monthly installments shall be of equal amounts. No deposit shall be required for days of unused sick leave D.C. Code 4-528. credited under subsection (h) of this section. Interest "(B) Interest required on deposits under this paragraph for memcomputation, bers who are officers or members of the Metropolitan Police force or the Fire Department of the District of Columbia shall be computed as follows: "(i) Interest shall be paid at a rate which (as determined by the Mayor of the District of Columbia) is equal to the average rate of return on investment (adjusted to the nearest one-eighth of 1 per centum) for the District of Columbia Police Officers and Fire Fighters' Retirement Fund (established by section 122 of the District of Columbia Retirement Reform Act) for the period beginning on the first day of the first month which begins after the end of the service with respect to which the deposit is made and ending on the last day of the month which precedes the month during which the deposit is made if he makes a lump-sum payment or during which he makes the first monthly payment if he makes monthly payments, except that for so much of any such period which precedes October 1, 1981, the average rate of interest on interest-bearing obligations of the United States forming a part of the public debt (adjusted to the nearest oneeighth of 1 per centum) shall be used in determining the interest rate to be paid on deposits under this paragraph. "(ii) Interest shall be payable for the period beginning on the first day of the first month which begins after the end of the period of service with respect to which the deposit is made and ending on the last day of the month which precedes the month during which the deposit is made. "(iii) If a member elects to make his deposit in monthly installments, each monthly payment shall include interest on that portion of the refund which is then being redeposited.". Effective date. (b) The amendments made by subsection (a) shall take effect at the end of the ninety-day period beginning on the date of the enactment of this Act. The amendments made by paragraph (2) of subsection (a) shall not apply with respect to deposits made, in whole or in part, prior to the end of such ninety-day period. COST-OF-LIVING ADJUSTMENTS OF ANNUITIES D.C. Code 4-521 note.

Ante, p. 909.

SEC. 209. (a)(1) The Policemen and Fireman's Retirement and Disability Act is amended— (A) by redesignating subsections (m) through (s), as redesignated by section 207(a)(1)(A) of this Act, as subsections (n) through (t), respectively; and (B) by inserting immediately after subsection (1), as added by the amendment made by section 207(a)(1)(B) of this Act, the following new subsection:

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