§4071a Definitions

Summary

Defines key words used in this part. Court order — means the same thing as in section 4044(4). Fund — the Foreign Service Retirement and Disability Fund kept by the Secretary of the Treasury under section 4042. Lump-sum credit — the unrefunded retirement deductions, deposits for prior civilian or military service, and interest calculated using the Treasury’s average Fund yield from the prior fiscal year (compounded annually); no interest if the service totals 1 year or less or for a fractional month. Normal cost — the entry-age normal cost for the Fund, worked out by the Secretary of State using standard actuarial methods (with dynamic assumptions) and shown as a steady percent of total basic pay. Participant — a person in the Foreign Service Pension System. Pro rata share — the percent equal to years married to the participant during the participant’s creditable service divided by total years of that service (ignoring extra credit under section 4057). Revised annuity participant — someone who, on December 31, 2012, was not a participant, not performing creditable service under section 4071c, had under 5 years of such service, and who became a participant performing that service after December 31, 2012 but before January 1, 2014. Further revised annuity participant — same test using December 31, 2013 and becoming a participant after that date. Supplemental liability — the estimated excess of the actuarial present value of future Fund benefits over the actuarial value of expected and past contributions, the Fund balance attributable to the System (or the 1983 Act contributions), and any other amounts the Secretary of State includes under standard actuarial practice. System — the Foreign Service Pension System. Special agent — means the same as in section 4044(15).