Page:United States Statutes at Large Volume 60 Part 1.djvu/1047

This page needs to be proofread.


PUBLIC LAWS-CH. 957-AUG. 13 , 1946 Post, p. 1038. Persons entitled to benefits. Post, p. 1024 . Ante, pp . 1008, 101S, 1016; post, pp . 1021, 1022. Salaries in excess of $13,.,00. Married partici- pant. Annuity payable to widow. MAINTENANCE OF FUND SEC. 802. The Secretary of the Treasury shall maintain the special fund, known as the Foreign Service Retirement and Disability Fund, referred to hereafter as the Fund, originally constituted by section 18 of the Act of May 24, 1924 (43 Stat. 144). PARTICIPANTS SEC. 803. (a) The following persons, hereafter referred to as par- ticipants, shall be entitled to the benefits of the System: (1) All Foreign Service officers; (2) All other persons making contributions to the Fund on the effective date of this Act; (3) Any chief of mission who is not otherwise entitled to be a participant and who fulfills the conditions of paragraph (b) of this section; (b) A person to become a participant in accordance with the pro- visions of paragraphs (a) (3) of this section must- (1) have served as chief of mission for an aggregate period of twenty years or more, exclusive of extra service credit in accordance with the provisions of section 853; and (2) have paid into the Fund a special contribution equal to 5 per centum of his basic salary for each year of such service with interest thereon to date of payment, compounded annually at 4 per centum. ANNUITANTS SEC. 804. Annuitants shall be persons who are receiving annuities from the Fund on the effective date of this Act, persons who shall become entitled to receive annuities in accordance with the provisions of sections 519, 631, 632, 633, 634, 636, 637, 831, 832, and 833, and all widows and beneficiaries of participants who are entitled to receive annuities in accordance with the terms of this title. PART B-COMPULSORY CONTRIBUTIONS SEC. 811. (a) Five per centum of the basic salary of all participants shall be contributed to the Fund, and the Secretary of the Treasury is directed to cause such deductions to be made and the sums trans- ferred on the books of the Treasury Department to the credit of the Fund for the payment of annuities, cash benefits, refunds, and allowances. (b) All basic salaries in excess of $13,500 per annum shall be treated as $13,500 for the purposes of this title. PART C-COMPUTATION OF ANNUITIES SEC. 821. (a) The annuity of a participant shall be equal to 2 per centum of his average basic salary, not exceeding $13,500 per annum, for the five years next preceding the date of his retirement multi- plied by the number of years of service, not exceeding thirty years. In determining the aggregate period of service upon which the annuity is to be based, the fractional part of a month, if any, shall not be counted. (b) At the time of his retirement, a participant, if the husband of a wife to whom he has been married for at least three years or who is the mother of issue by such marriage, may elect to receive a reduced annuity for himself and to provide for an annuity payable to his widow, commencing on the date following his death and con- tinuing as long as she may live. The annuity payable to his widow 1020 [60 STAT.