22 U.S.C. § 4071a: Definitions

Summary

Defines the key words used in this part of the law. A "court order" means the same thing as in section 4044(4). "Fund" means the Foreign Service Retirement and Disability Fund held by the Secretary of the Treasury under section 4042. "Lump‑sum credit" is the unreturned total made up of retirement deductions (under section 4071e or section 204 of the 1983 Adjustment Act), deposits to buy prior civilian or military service credit under section 4071c, and interest calculated from the Fund’s average yield for the preceding fiscal year on obligations bought under section 4059 (compounded yearly). That interest is not included if the service totals 1 year or less or if it is only a fractional part of a month. "Normal cost" is the entry‑age normal cost for the parts of the System tied to the Fund, worked out by the Secretary of State using standard actuarial methods and shown as a steady percent of total basic pay. "Participant" is someone in the Foreign Service Pension System. "Pro rata share" for a former spouse is the percent equal to years married to the participant during credited service divided by total years of that credited service, ignoring extra credit under section 4057. A "revised annuity participant" is someone who on December 31, 2012 was not a participant, not doing creditable service under section 4071c, had less than 5 years of such service, and who becomes a participant doing that creditable service after December 31, 2012 but before January 1, 2014. A "further revised annuity participant" has the same rules using the dates December 31, 2013 and after December 31, 2013. "Supplemental liability" is the estimated shortfall equal to the present value of future Fund benefits for participants minus the present value of expected deductions, future contributions, the Fund balance attributable to the System or the 1983 Act contributions, and any other amounts the Secretary of State finds appropriate using standard actuarial practice. "System" means the Foreign Service Pension System. "Special agent" means the same as in section 4044(15).

Title 22, §4071a

Foreign Relations and Intercourse, Source: USLM XML via OLRC

As used in this part, unless otherwise specified—

(1)the term “court order” has the same meaning given in section 4044(4) of this title;

(2)the term “Fund” means the Foreign Service Retirement and Disability Fund maintained by the Secretary of the Treasury pursuant to section 4042 of this title;

(3)the term “lump-sum credit” means the unrefunded amount consisting of—

(A)retirement deductions made from the basic pay of a participant under section 4071e of this title (or under section 204 of the Federal Employees’ Retirement Contribution Temporary Adjustment Act of 1983);

(B)amounts deposited by a participant under section 4071c of this title to obtain credit under this System for prior civilian or military service; and

(C)interest on the deductions and deposits which, for any calendar year, shall be equal to the overall average yield to the Fund during the preceding fiscal year from all obligations purchased by the Secretary of the Treasury during such fiscal year under section 4059 of this title, as determined by the Secretary of the Treasury (compounded annually); but does not include interest—

(i)if the service covered thereby aggregates 1 year or less; or

(ii)for a fractional part of a month in the total service;

(4)the term “normal cost” means the entry-age normal cost of the provisions of the System which relate to the Fund, computed by the Secretary of State in accordance with generally accepted actuarial practice and standards (using dynamic assumptions) and expressed as a level percentage of aggregate basic pay;

(5)the term “participant” means a person who participates in the Foreign Service Pension System;

(6)the term “pro rata share” in the case of any former spouse of any participant or former participant means the percentage which is equal to the percentage that (A) the number of years during which the former spouse was married to the participant during the service of the participant which is creditable under this subchapter is of (B) the total number of years of such service, disregarding extra credit under section 4057 of this title;

(7)the term “revised annuity participant” means any individual who—

(A)on December 31, 2012—

(i)is not a participant;

(ii)is not performing service which is creditable service under section 4071c of this title; and

(iii)has less than 5 years creditable service under section 4071c of this title; and

(B)after December 31, 2012, and before January 1, 2014, becomes a participant performing service which is creditable service under section 4071c of this title;

(8)the term “further revised annuity participant” means any individual who—

(A)on December 31, 2013—

(i)is not a participant;

(ii)is not performing service which is creditable service under section 4071c of this title; and

(iii)has less than 5 years creditable service under section 4071c of this title; and

(B)after December 31, 2013, becomes a participant performing service which is creditable service under section 4071c of this title;

(9)the term “supplemental 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 participants or former participants, over

(B)the sum of—

(i)the actuarial present value of (I) deductions to be withheld from the future basic pay of participants pursuant to section 4071e of this title and (II) contributions for past civilian and military service;

(ii)the actuarial present value of future contributions to be made pursuant to section 4071f of this title;

(iii)the Fund balance as of the date the supplemental liability is determined, to the extent that such balance is attributable—

(I)to the System, or

(II)to the contributions made under the Federal Employees’ Retirement Contribution Temporary Adjustment Act of 1983 (5 U.S.C. 8331 note); and

(iv)any other appropriate amount, as determined by the Secretary of State in accordance with generally accepted actuarial practices and principles;

(10)the term “System” means the Foreign Service Pension System; and

(11)the term “special agent” has the same meaning given in section 4044(15) of this title.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Federal Employees’ Retirement Contribution Temporary Adjustment Act of 1983, referred to in pars. (3)(A) and (7)(B)(iii)(II), is title II of Pub. L. 98–168, Nov. 29, 1983, 97 Stat. 1106, which is set out as a note under section 8331 of Title 5, Government Organization and Employees.

Amendments

2013—Par. (7)(B). Pub. L. 113–67, § 402(a)(2), inserted “and before

January 1, 2014,” after “after

December 31, 2012,”. Pars. (8) to (11). Pub. L. 113–67, § 402(a)(1), added par. (8) and redesignated former pars. (8) to (10) as (9) to (11), respectively. 2012—Pars. (7) to (10). Pub. L. 112–96 added par. (7) and redesignated former pars. (7) to (9) as (8) to (10), respectively. 1998—Par. (9). Pub. L. 105–382 added par. (9). 1988—Pars. (3) to (8). Pub. L. 100–238 added par. (3) and redesignated former pars. (3) to (7) as (4) to (8), respectively.

Statutory Notes and Related Subsidiaries

Effective Date

of 1998 AmendmentAmendment by Pub. L. 105–382 effective Nov. 13, 1998, with provisions relating to applicability with respect to certain individuals, see section 4 of Pub. L. 105–382, as amended, set out as a note under section 4044 of this title.

Effective Date

of 1988 AmendmentAmendment by Pub. L. 100–238 effective 90 days after Jan. 8, 1988, see section 261(a) of Pub. L. 100–238, set out as a note under section 4054 of this title.

§4071a Definitions

Summary

Title 22, §4071a

Notes & Related Subsidiaries

Editorial Notes

References in Text

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata