Page:United States Statutes at Large Volume 95.djvu/780

 95 STAT. 754

PUBLIC LAW 97-35—AUG. 13, 1981

5 USC 5343 note.

0>)(1) Notwithstanding any other provision of law, in the case of a prevailing rate employee described in section 5342(a)(2) of title 5, United States Code, or an employee covered by section 5348 of that title— I.• (A) any increase in the rate of pay payable to such employee which would result from the expiration of the limitation con5 USC 5343 tained in section 114(a)(2) of Public Law 96-369 shall not take "0^effect, and (B) any adjustment under subchapter IV of chapter 53 of such 5 USC 5341. title to any wage schedule or rate applicable to such employee which results from a wage survey and which is to become effective during the fiscal year beginning October 1, 1981, shall not exceed the amount which is 4.8 percent above the schedule or rate payable on September 30, 1981 (determined with regard to the limitation contained in section 114(a)(2) of Public Law 96-369). (2) Notwithstanding the provisions of section 9(b) of Public Law 5 USC 5343 note. 92-392 or section 704(b) of the Civil Service Reform Act of 1978, the provisions of paragraph (1) shall apply (in such manner as the Office of Personnel Management shall prescribe) to prevailing rate employees to whom such section 9(b) applies, except that the provisions of paragraph (1) shall not apply to any increase in a wage schedule or rate which is required by the terms of a contract entered into before the date of the enactment of this Act. ANNUAUZATION OF COST-OF-LIVING ADJUSTMENT FOR FEDERAL EMPLOYEES

Effective date. n^e^ ^^^^

SEC. 1702. (a) Section 8340(b) of title 5, United States Code, is amended to read as follows: "(b) Except as provided in subsection (c) of this section, effective March 1 of each year each annuity payable from the Fund having a commencing date not later than such March 1 shall be increased by the percent change in the price index published for December of the preceding year over the price index published for December of the year prior to the preceding year, adjusted to the nearest Vic of 1 percent.". (b) Section 8340(c)(1) of title 5, United States Code, is amended to read as follows: "(1) The first increase (if any) made under subsection (b) of this section to an annuity which is payable from the Fund to an employee or Member who retires, to the widow or widower of a deceased employee or Member, or to the widow or widower of a deceased annuitant whose annuity has not been increased under this subsection or subsection (b) of this section, shall be equal to the product (adjusted to the nearest Vio of 1 percent) of— "(A) Vi2 of the applicable percent change computer under subsection (b) of this section, multiplied by "(B) the number of months (counting any portion of a month as a month)— "(i) for which the annuity was payable from the Fund before the effective date of the increase, or "(ii) in the case of a widow or widower of a deceased annuitant whose annuity has not been so increased, since the annuity was first payable to the deceased annuitant.". (c) The amendments made by this section shall take effect on the ^^*® °^ ^^^ enactment of this Act and shall apply to annuities which commence before, on, or after such date.

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