Pub. L. 103-226, sec. 4 (as amended)

ADDITIONAL AGENCY CONTRIBUTIONS TO THE RETIREMENT FUND.

Year: 2004Length: 423 wordsOfficial source
SEC. 4. [5 U.S.C. 8331 note] ADDITIONAL AGENCY CONTRIBUTIONS TO THE RETIREMENT FUND. (a) Relating to Voluntary Separation Incentive Payments.— (1) In general.—In addition to any other payments which it is required to make under subchapter III of chapter 83 of title 5, United States Code, an agency shall remit to the Office of Personnel Management for deposit in the Treasury of the United States to the credit of the Civil Service Retirement and Disability Fund an amount equal to 9 percent of the final basic pay of each employee of the agency— (A) who, on or after the date of the enactment of this Act retires under section 8336(d)(2) of such title; and (B) to whom a voluntary separation incentive payment has been or is to be paid by such agency based on that retirement. (2) Definitions.—For the purpose of this subsection— (A) the term “final basic pay”, with respect to an employee, means the total amount of basic pay which would be payable for a year of service by such employee, computed using the employee's final rate of basic pay, and, if last serving on other than a full-time basis, with appropriate adjustment therefor; and (B) the term “voluntary separation incentive payment” means— (i) a voluntary separation incentive payment under section 3 (including under any program established under section 3(f)); and (ii) any separation pay under section 5597 of title 5, United States Code. (b) Relating to Fiscal Years 1995 Through 1998.— (1) In general.—In addition to any other payments which it is required to make under subchapter III of chapter 83 or chapter 84 of title 5, United States Code, in fiscal years 1995, 1996, 1997, and 1998 (and in addition to any amounts required under subsection (a)), each agency shall, before the end of each such fiscal year, remit to the Office of Personnel Management for deposit in the Treasury of the United States to the credit of the Civil Service Retirement and Disability Fund an amount equal to the product of— (A) the number of employees of such agency who, as of March 31st of such fiscal year, are subject to subchapter III of chapter 83 or chapter 84 of such title; multiplied by (B) $80. (2) Definition.—For the purpose of this subsection, the term “agency” means an Executive agency (as defined by section 105 of title 5, United States Code), but does not include the General Accounting Office. (c) Regulations.—The Director of the Office of Personnel Management may prescribe any regulations necessary to carry out this section.
Cross-references to the US Code
5 U.S.C. 8331 note
Pub. L. 103-226, sec. 4 (as amended): ADDITIONAL AGENCY CONTRIBUTIONS TO THE RETIREMENT FUND. | Justis AI