Home > 108th Congressional Bills > H.R. 1810 (ih) To require door delivery of mail sent to persons residing in senior communities. [Introduced in House] ...H.R. 1810 (ih) To require door delivery of mail sent to persons residing in senior communities. [Introduced in House] ...
``the first sentence of subsection
(a)(1) of this section'' and inserting
``subsection (a)(1)(A)''; and
(II) by amending subparagraph (B)
to read as follows:
``(B) the amount of the contribution under subsection
(a)(1)(B) shall be the amount which would have been contributed
under such subsection if this subsection had not been
enacted.''; and
(ii) in paragraph (2)(C)(iii) by striking
``the first sentence of subsection (a)(1)'' and
inserting ``subsection (a)(1)(A)''; and
(3) in section 8348--
(A) by repealing subsection (f);
(B) by amending subsection (g) to read as follows:
``(g)(1)(A) Not later than June 30, 2004, the Office of the Actuary
shall determine the unfunded liability of the Fund, as of September 30,
2003, attributable to benefits payable under this chapter and make
recommendations regarding its liquidation. After considering such
recommendations, the Office shall establish an amortization schedule,
including a series of annual installments commencing October 1, 2004,
which provides for the liquidation of such liability by October 1,
2043.
``(B) The Office shall redetermine the unfunded liability of the
Fund as of the close of the fiscal year, for each fiscal year beginning
after September 30, 2003, through the fiscal year ending September 30,
2038, and shall establish a new amortization schedule, including a
series of annual installments commencing on October 1 of the second
subsequent fiscal year, which provides for the liquidation of such
liability by October 1, 2043.
``(C) The Office shall redetermine the unfunded liability of the
Fund as of the close of the fiscal year for each fiscal year beginning
after September 30, 2038, and shall establish a new amortization
schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over five years.
``(D) Amortization schedules established under this paragraph shall
be set in accordance with generally accepted actuarial practices and
principles, with interest computed at the rate used in the most recent
valuation of the Civil Service Retirement System.
``(2) At the beginning of each fiscal year, beginning on October 1,
2004, the Office shall notify the Secretary of the Treasury of the
amount of the first installment under the most recent amortization
schedule established under paragraph (1). The Secretary shall credit
that amount to the Fund, as a Government contribution, out of any money
in the Treasury of the United States not otherwise appropriated.
``(3) For the purpose of carrying out paragraph (1) with respect to
any fiscal year, the Office may--
``(A) require the Board of Actuaries of the Civil Service
Retirement System to make actuarial determinations and
valuations, make recommendations, and maintain records in
accordance with section 8347(f); and
``(B) use the latest actuarial determinations and
valuations made by such Board of Actuaries.'';
(C) in subsections (h), (i), and (m) by striking
``unfunded'' and inserting ``accrued'' each place it
appears; and
(D) by adding at the end the following new
subsection:
``(n) Under regulations prescribed by the Office, the head of an
agency may request reconsideration of any amount determined to be
payable with respect to such agency under section 8334(a)(1)(B)-(D).
Any such request shall be referred to the Board of Actuaries of the
Civil Service Retirement System. The Board of Actuaries shall review
the computations of the Office and may make any adjustment with respect
to any such amount which the Board determines appropriate. A
determination by the Board of Actuaries under this subsection shall be
final.''.
(b) Government Contributions.--Section 8423 of title 5, United
States Code, is amended--
(1) in subsection (a)(2) by striking ``section 8422'' and
inserting ``section 8422(a)''; and
(2) in subsection (b)(2) by striking ``equal annual
installments'' and inserting ``annual installments set in
accordance with generally accepted actuarial practices and
principles''.
SEC. 302. CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM.
(a) Section 101 of the Central Intelligence Agency Retirement Act
(50 U.S.C. 2001) is amended--
(1) in paragraph (5), to read as follows:
``(5) Unfunded liability.--The term `unfunded liability'
means the estimated excess of--
``(A) the actuarial present value of all future
benefits payable from the Fund under title II of this
Act based on the service of current or former
participants, over
``(B) the sum of--
``(i) the actuarial present value of
deductions to be withheld from the future basic
pay of participants currently subject to title
II of this Act pursuant to section 211;
``(ii) the actuarial present value of the
future contributions to be made pursuant to
section 211 with respect to participants
currently subject to title II of this Act;
``(iii) the Fund balance, as defined in
paragraph (4), as of the date the unfunded
liability is determined; and
``(iv) any other appropriate amount, as
determined by the Director in accordance with
generally accepted actuarial practices and
principles.'';
(2) in paragraph (6)--
(A) by striking ```normal cost''' and inserting
```normal cost percentage'''; and
(B) by inserting ``and standards (using dynamic
assumptions)'' after ``practice''; and
(3) by adding at the end the following paragraph:
``(10) Dynamic assumptions.--The term `dynamic assumptions'
means economic assumptions that are used in determining
actuarial costs and liabilities of a retirement system and in
anticipating the effects of long-term future--
``(A) investment yields;
``(B) increases in rates of basic pay; and
``(C) rates of price inflation.'';
(b) Section 202 of such Act (50 U.S.C. 2012) is amended by adding
at the end the following: ``The Fund is appropriated for the payment of
benefits as provided by this title.''.
(c) Section 211(a)(2) of such Act (50 U.S.C. 2021(a)(2)) is amended
to read as follows:
``(2) Agency contributions.--The Agency shall contribute to
the Fund the amount computed in a manner similar to that used
under section 8334(a) of title 5, United States Code, pursuant to
determinations of the normal cost percentage of the Central
Intelligence Agency Retirement and Disability System by the Director.
Contributions under this paragraph shall be paid from amounts available
for salaries and expenses.''; and
(d) Section 261 of such Act (50 U.S.C. 2091) is amended--
(1) by striking subsections (c), (d), and (e); and
(2) by inserting after subsection (b) the following new
subsections:
``(c)(1) Not later than June 30, 2004, the Director shall cause to
be made actuarial valuations of the Fund that determine the unfunded
liability of the Fund, as of September 30, 2003, attributable to
benefits payable under this title and make recommendations regarding
its liquidation. After considering such recommendations, the Director
shall establish an amortization schedule, including a series of annual
installments commencing October 1, 2004, which provides for the
liquidation of such liability by October 1, 2043.
``(2) The Director shall redetermine the unfunded liability of the
Fund as of the close of the fiscal year, for each fiscal year beginning
after September 30, 2003, through the fiscal year ending September 30,
2038, and shall establish a new amortization schedule, including a
series of annual installments commencing on October 1 of the second
subsequent fiscal year, which provides for the liquidation of such
liability by October 1, 2043.
``(3) The Director shall redetermine the unfunded liability of the
Fund as of the close of the fiscal year for each fiscal year beginning
after September 30, 2038, and shall establish a new amortization
schedule, including a series of annual installments commencing on
October 1 of the second subsequent fiscal year, which provides for the
liquidation of such liability over five years.
``(4) Amortization schedules established under this subsection
shall be set in accordance with generally accepted actuarial practices
and principles, with interest computed at the rate used in the most
recent valuation of the Civil Service Retirement and Disability System.
``(d) At the beginning of each fiscal year, beginning on October 1,
2004, the Director shall notify the Secretary of the Treasury of the
amount of the first installment under the most recent amortization
schedule established under subsection (c). The Secretary shall credit
that amount to the Fund, as a Government contribution, out of any money
in the Treasury of the United States not otherwise appropriated. For
the purposes of Section 504 of the National Security Act of 1947, this
amount shall be considered authorized.''.
(e)(1) Title III of such Act (50 U.S.C. 2151 et seq.) is amended by
adding at the end the following new section:
``SEC. 308. FULL FUNDING OF RETIREE COSTS FOR EMPLOYEES DESIGNATED
UNDER SECTION 302.
``(a) In addition to other government contributions required by
law, the Agency shall contribute to the Civil Service Retirement and
Disability fund (hereinafter in this section referred to as the `Fund')
amounts calculated in accordance with section 8423 of title 5, United
States Code, based on the projected number of employees to be
designated pursuant to section 302 of this Act. In addition, the
Agency, in a manner similar to that established for employee
contributions to the Fund by section 8422 of title 5, United States
Code, will contribute an amount equal to the difference between that
which would be contributed by the number of employees projected to be
designated under section 302 and the amounts that are actually being
deducted and contributed from the basic pay of an equal number of
employees pursuant to section 8422. The amounts of the Agency's
contributions under this subsection shall be determined by the Director
of the Office of Personnel Management, in consultation with the
Director, and shall be paid by the Agency from funds available for
salaries and expenses. Agency employees designated pursuant to section
302 of this Act shall, commencing with such designation, have deducted
from their basic pay the full amount required by section 8422 of title
5, United States Code, and such deductions shall be contributed to the
Fund.
``(b)(1) The Director of the Office of Personnel Management, in
consultation with the Director, shall determine the total amount of
unpaid contributions (government and employee contributions) and
interest attributable to the number of individuals employed with the
Agency on September 30, 2004, who are projected to be designated under
section 302 of this Act, but are not yet designated under that section
as of that date. The amount shall be referred to as the section 302
unfunded liability.
``(2) Not later than June 30, 2005, the Director of the Office of
Personnel Management, in consultation with the Director, shall
establish an amortization schedule, setting forth a series of annual
installments commencing September 30, 2005, which provides for the
liquidation of the section 302 unfunded liability by September 30,
2012.
``(3) At the end of each fiscal year, beginning on September 30,
2005, the Director shall notify the Secretary of the Treasury of the
amount of the annual installment under the amortization schedule
established under paragraph (2) of this subsection. Before closing the
accounts for that fiscal year, the Secretary shall credit that amount
to the Fund, out of any money in the Treasury of the United States not
otherwise appropriated.
``(c) Amounts paid by the Agency pursuant to this section are
deemed to be specifically authorized by the Congress for the purposes
of section 504 of the National Security Act of 1947.''.
(2) The table of contents of such Act is amended by inserting after
the item relating to section 307 the following new item:
``Sec. 308. Full funding of retiree costs for employees designated
under section 302.''.
SEC. 303. FOREIGN SERVICE RETIREMENT AND DISABILITY SYSTEM.
(a) Chapter 8 of Title I of the Foreign Service Act of 1980, Public
Law 96-465, (22 U.S.C. 4041 et seq.) 94 Stat. 2071, as amended, is
further amended in section 804 (22 U.S.C. 4044)--
(1) by amending paragraph (5) to read as follows:
``(5) `normal cost percentage' means the entry-age normal
cost computed in accordance with generally accepted actuarial
practice and standards (using dynamic assumptions) and
expressed as a level percentage of aggregate basic pay;'';
(2) by amending paragraph (14) to read as follows:
``(14) `unfunded liability' means the estimated excess of--
``(A) the actuarial present value of all future
benefits payable from the Fund under this part based on
the service of current or former participants, over
``(B) the sum of--
``(i) the actuarial present value of
deductions to be withheld from the future basic
pay of participants currently subject to this
part pursuant to section 805;
``(ii) the actuarial present value of the
future contributions to be made pursuant to
section 805 with respect to participants
currently subject to this part;
``(iii) the Fund balance, as defined in
paragraph (7), as of the date the unfunded
liability is determined, excluding any amount
attributable to the Foreign Service Pension
System, or contributions made under the Federal
Employees' Retirement Contribution Temporary
Adjustment Act of 1983 by or on behalf of any
individual who became subject to the Foreign
Service Pension System; and
``(iv) any other appropriate amount, as
determined by the Secretary of the Treasury in
accordance with generally accepted actuarial
practices and principles.''; and
(3)(A) by striking the period at the end of paragraph (15)
and inserting ``; and''; and
(B) by adding at the end the following new paragraph:
``(16) `dynamic assumptions' means economic assumptions
that are used in determining actuarial costs and liabilities of
a retirement system and in anticipating the effects of long-
term future--
``(A) investment yields;
``(B) increases in rates of basic pay; and
``(C) rates of price inflation.'';
(b) in section 852 (22 U.S.C. 4071a)--
(1) in paragraph (4)--
(A) by striking ``normal cost'' and inserting
``normal cost percentage''; and
(B) by striking ``by the Secretary of State'';
(2) in paragraph (7)--
(A) by striking ``supplemental'' and inserting
``unfunded'';
(B) in subparagraph (B)(i) by striking ``(I)'' and
``and (II) contributions for past civilian and military
service''; and
(C) in subparagraph (B)(ii) by inserting before the
semicolon ``with respect to participants currently
subject to this part''; and
(3)(A) at the end of paragraph (8) by striking ``and'';
(B) at the end of paragraph (9) by striking the period and
insering ``; and''; and
(C) by adding at the end the following new paragraph:
``(10) `dynamic assumptions' means economic assumptions
that are used in determining actuarial costs and liabilities of
a retirement system and in anticipating the effects of long-
term future--
``(A) investment yields;
``(B) increases in rates of basic pay; and
``(C) rates of price inflation.'';
(c) in section 805(a)(1) (22 U.S.C. 4045(a)(i))--
(1) by striking the second sentence;
(2) (by redesignating that subsection, as so amended, as
(a)(1)(A);
(3) by redesignating the last sentence of that subsection,
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