Pub. L. 91-201, tit. I, sec. 104

Sec. 104. (a) Part G of title VIII of such Act (22 U.S.C. 1101–1104) is amended by adding at the end thereof the following new sections: “payments for future benefits “Sec. 865. Any statute which authorizes— “(1) new or liberalized benefits payable from the Fund, including annuity increases other than under section 882; “(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 thirty equal annual installments with interest computed at the rate used in the then most 84 Stat. 18recent 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. “unfunded liability obligations “Sec. 866. At the end of each fiscal year, the Secretary shall notify the Secretary of the Treasury of the amount equivalent to (1) interest on the unfunded liability computed for that year at the interest rate used in the then most recent valuation of the System, and (2) that portion of disbursement for annuities for that year which the Secretary estimates is attributable to credit allowed for military service. Before closing the accounts for each fiscal year, the Secretary of the Treasury shall credit to the Fund, as a Government contribution, out of any money in the Treasury of the United States not otherwise, appropriated, the following percentages of such amounts: 10 per centum for 1971; 20 per centum for 1972 ; 30 per centum for 1973; 40 per centum for 1974; 50 per centum for 1975; 60 per centum for 1976; 70 per centum for 1977; 80 per centum for 1978; 90 per centum for 1979; and 100 per centum for 1980 and for each fiscal year thereafter. The Secretary shall report to the President and to the Congress the sums credited to the Fund under this section.” (b) The provisions of section 866 of the Foreign Service Act of 1946, as contained in the amendment made by subsection (a) of this section, shall become effective at the beginning of the fiscal year which ends on June 30, 1971.