22 U.S.C. § 4061 — Payments for future benefits

FEDERAL · 22 U.S.C. · Chapter 52

Payments for future benefits

Current through Pub. L. 119-102

Title 22 — Foreign Relations and Intercourse·Ch. 52 — FOREIGN SERVICE·Subch. VIII·Pt. I

(a)Statutes deemed to authorize appropriations to Fund to finance unfunded liability Any statute which authorizes—

(1)new or liberalized benefits payable from the Fund under this part, including annuity increases other than under section 4065 of this title;

(2)extension of the benefits of the System to new groups of employees; or

(3)increases in salary on which benefits are computed; is deemed to authorize appropriations to the Fund to finance the unfunded liability created by that statute, in 30 equal annual installments with interest computed at the rate used in the then most recent valuation of the 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 benefits, or increase in salary is effective.

(b)Aut

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(a) Statutes deemed to authorize appropriations to Fund to finance unfunded liability
Any statute which authorizes—
(1) new or liberalized benefits payable from the Fund under this part, including annuity increases other than under section 4065 of this title;
(2) extension of the benefits of the System to new groups of employees; or
(3) increases in salary on which benefits are computed;
is deemed to authorize appropriations to the Fund to finance the unfunded liability created by that statute, in 30 equal annual installments with interest computed at the rate used in the then most recent valuation of the 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 benefits, or increase in salary is effective.
(b) Authorization of appropriations to Fund
There is authorized to be appropriated to the Fund for each fiscal year an amount equal to the amount of the Foreign Service normal cost for that year which is not met by contributions to the Fund under section 4045(a) of this title.

22 U.S.C. § 4061 (Payments for future benefits) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 96–465, title I, §821, Oct. 17, 1980, 94 Stat. 2121; Pub. L. 99–335, title IV, §402(a)(3), June 6, 1986, 100 Stat. 609.)

Editorial Notes

Editorial Notes

Amendments
1986—Subsec. (a)(1). Pub. L. 99–335 inserted "under this part" after "payable from the Fund".

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment
Amendment by Pub. L. 99–335 effective Jan. 1, 1987, see section 702(a) of Pub. L. 99–335, set out as an Effective Date note under section 8401 of Title 5, Government Organization and Employees.