Page:United States Statutes at Large Volume 93.djvu/952

 93 STAT. 920

Ante, p. 918. Effective date.

PUBLIC LAW 96-122—NOV. 17, 1979 service period 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. "(3) If a teacher elects to make his deposit in installments, each payment shall include interest on that portion of the refund which is then being redeposited.". (b) The Act entitled "An Act to authorize certain teachers in the public schools of the District of Columbia to count as creditable service for retirement purposes certain periods of authorized leave without pay taken by such teachers for educational purposes", approved June 27, 1960 (D.C. Code, sec. 31-745), is amended— (1) by striking out "and interest"; and (2) by inserting immediately before the colon at the beginning of the proviso "plus interest computed in accordance with section 24(b) of such Act of August 7, 1946". (c) The amendments made by this section shall take effect at the end of the ninety-day period beginning on the date of the enactment of this Act. INTEREST ON JUDGES' REDEPOSITS

Ante, p. 866.

D.C. Code 11-1567.

Ante, p. 875.

SEC. 254. (a) Subchapter III of chapter 15 of title 11 of the District of Columbia Code is amended— (1) in section 11-1561— (A) in paragraph (9)(C), by inserting immediately before the semicolon at the end thereof "or the end of the 90-day period beginning on the date of the enactment of the District of Columbia Retirement Reform Act, whichever is earlier", and (B) in paragraph (10)(C), by inserting immediately before the semicolon at the end thereof "or the end of the 90-day period beginning on the date of the enactment of the District of Columbia Retirement Reform Act, whichever is earlier"; and (2) in section ll-1569(c), by inserting "or the end of the 90-day period beginning on the date of the enactment of the District of Columbia Retirement Reform Act, whichever is earlier" immediately after "such judge" and before the comma. Qy) Such subchapter III is further amended— (1) in section 11-1563(b), by striking out "at 4 per centum per annum to December 31, 1947, and 3 per centum per annum thereafter, compounded on December 31 of each year" and inserting in lieu thereof "computed in accordance with section ll-1564(d)(2)"; (2) by amending section ll~1564(d)(2) to read as follows: "(2) Interest on deposits under this subsection and section 11-1567 (b) shall be computed as follows: "(A) 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 Judges' Retirement Fund (established by section 124 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 period 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 payment if he makes installment deposits, except that—

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