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Current as of January 01, 2024 | Updated by Findlaw Staff
(a)Statutes deemed to authorize appropriations to Fund to finance unfunded liability
Any statute which authorizes--
(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;
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.
(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.
Cite this article: FindLaw.com - 22 U.S.C. § 4061 - U.S. Code - Unannotated Title 22. Foreign Relations and Intercourse § 4061. Payments for future benefits - last updated January 01, 2024 | https://codes.findlaw.com/us/title-22-foreign-relations-and-intercourse/22-usc-sect-4061/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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