Pub. L. 112-96, tit. V, sec. 5003 (as amended)

CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM.

Year: 2022Length: 293 wordsOfficial source
SEC. 5003. CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM. Section 211(a) of the Central Intelligence Agency Retirement Act (50 U.S.C. 2021(a)) is amended— (1) by redesignating paragraph (3) as paragraph (4); and (2) by striking paragraphs (1) and (2) and inserting the following: “(1) Definition. In this subsection, the term ‘revised annuity participant’ means an individual who— “(A) on December 31, 2012— “(i) is not a participant; “(ii) is not performing qualifying service; and “(iii) has less than 5 years of qualifying service; and “(B) after December 31, 2012, becomes a participant performing qualifying service. “(2) Contributions. “(A) In general. Except as provided in subsection (d), 7 percent of the basic pay received by a participant other than a revised annuity participant for any pay period shall be deducted and withheld from the pay of that participant and contributed to the fund. “(B) Revised annuity participants. Except as provided in subsection (d), 9.3 percent of the basic pay received by a revised annuity participant for any pay period shall be deducted and withheld from the pay of that revised annuity participant and contributed to the fund. “(3) Agency contributions. “(A) In general. An amount equal to 7 percent of the basic pay received by a participant other than a revised annuity participant shall be contributed to the fund for a pay period for the participant from the appropriation or fund which is used for payment of the participant’s basic pay. “(B) Revised annuity participants. An amount equal to 4.7 percent of the basic pay received by a revised annuity participant shall be contributed to the fund for a pay period for the revised annuity participant from the appropriation or fund which is used for payment of the revised annuity participant’s basic pay.” .
Pub. L. 112-96, tit. V, sec. 5003 (as amended): CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM. | Justis AI