Pub. L. 94-522, tit. I, sec. 102

Sec. 102. Section 261 of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees, as amended (78 Stat. 1043; 50 U.S.C. 403 note), is amended by inserting “(a)” after “261,” and by adding the following new paragraphs (b), (c), and (d): “(b) Any statute which authorizes— “(1) new or liberalized benefits payable from the fund, including annuity increases other than under section 291 of this Act; “(2) extension of the coverage of this Act to new groups of employees; or 90 STAT. 2468 “(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 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 coverage, or increase in salary is effective. “(c) There is hereby authorized to be appropriated to the fund each fiscal year, beginning with fiscal year 1977 such amounts as may be necessary to meet the amount of normal cost for each year which is not met by contributions under section 211(a). “(d) There is hereby authorized to be appropriated to the fund each fiscal year such sums as may be necessary to provide 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 Director estimates is attributable to credit allowed for military service, not to exceed the following percentages of such amounts: 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’.