§ 4061. Payments for future benefits

§ 4061. Payments for future benefits

(a) Statutes deemed to authorize appropriations to Fund to finance unfunded liability Any statute which authorizes—

is deemed to authorize appropriations to the Fund to finance the unfunded liability created by that statute, in 30 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 benefits, or increase in salary is effective.

(1) new or liberalized benefits payable from the Fund under this part, including annuity increases other than under section 4065 of this title;

(2) extension of the benefits of the System to new groups of employees; or

(3) increases in salary on which benefits are computed;

(b) Authorization of appropriations to Fund There is authorized to be appropriated to the Fund for each fiscal year an amount equal to the amount of the Foreign Service normal cost for that year which is not met by contributions to the Fund under section 4045(a) of this title.

(Pub. L. 96–465, title I, § 821, Oct. 17, 1980, 94 Stat. 2121; Pub. L. 99–335, title IV, § 402(a)(3), June 6, 1986, 100 Stat. 609.)

Editorial Notes

Amendments

1986—Subsec. (a)(1). Pub. L. 99–335 inserted “under this part” after “payable from the Fund”.

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment

Amendment by Pub. L. 99–335 effective Jan. 1, 1987, see section 702(a) of Pub. L. 99–335, set out as an Effective Date note under section 8401 of Title 5, Government Organization and Employees.