Pub. L. 91-93, tit. I, sec. 101

Sec. 101. Section 8331 of title 5, United States Code, is amended— (1) by striking out “and” at the end of paragraph (15); (2) by striking out the period at the end of paragraph (16) and inserting a semicolon in lieu thereof; and (3) by adding immediately below paragraph (16) the following new paragraphs: “(17) ‘normal cost’ means the entry-age normal cost computed by the Civil Service Commission in accordance with generally accepted actuarial practice and expressed as a level percentage of aggregate basic pay; “(18) ‘Fund balance’ means the sum of— “(A) the investments of the Fund calculated at par value; and “(B) the cash balance of the Fund on the books of the Treasury; and “(19) ‘unfunded liability’ means the estimated excess of the present value of all benefits payable from the Fund to employees and Members, and former employees and Members, subject to this subchapter, and to their survivors, over the sum of— “(A) the present value of deductions to be withheld from the future basic pay of employees and Members currently subject to this subchapter and of future agency contributions to be made in their behalf; plus “(B) the present value of Government payments to the Fund under section 8348 (f) of this title; plus “(C) the Fund balance as of the date the unfunded liability is determined.”.