144 SIXTY-EIGHT]-I CONGRESS. Sess. I. Ch. 182. 1924. R,u,,,m.,,,t,,.,m_ Sys. Sec. 18. The President is authorized to prescribe rules and
- °*** °5°**"“S‘*°d· regulations for the establishment of a Foreign Service retirement
and disability system to be administered under the direction of the Secretary of State and in accordance with the following principles, to wit :' A**°‘““°S· a The Secreta of State shall submit annuall a com arative reéiéiiigiilwdegiigigigf regiogt showing all Lrceipts and disbursements on accbunt of iiefunds, §§°§`uti,§fiti°Q°d?°” °’ ° allowances, and annuities, together with the total number of persons receivgpg annuities aqd the amounts paid them, and shall subrlpit annua y estimates o appropriations necessa to continue t is Prom igectioiré ig frlulll force and silchhapyallopriations gleiillierieby authorised: · ,,1, ,0,_ rm: e , a in no even s a e aggre a a appropriations guégiiiopgtgvnvibu- exceed the aggregate total of the contriutions of pthe pForeign ° ° Service officers theretofore made, and accumulated interest thereon. S*’°"*”“““d "’°°‘°“· (b) There is hereby created a special fund to be known as the _ Foreign _Service retirement and disability fund. d,,‘Q3';§”§§§,“s§’,§,‘§g§ (c) Five per centum of the basic salary of all Foreign Service ¤f¢**¤i¤¥¤ <>¤*¤¤¤· officers eligible to retirement shall be contributed to the Foreign Service retirement and disability fund and the Secretary of the ,cr{_’0<j,d;*0°}lg{,*;*_ **·***** Treasury is directed on the date on which this Act takes effect to cause such deductions to be made and the sums transferred on the books of the Treasury Department to the credit of the Foreign _ Service retirement and disability fund for the payment of annuities, ,Q*g'Q;’g;um salary rqfggmilsioand allowanx :uPl:·B01;idedédThat§;H basic salaries in excess basis. o , per annum a reat as 000. R¤¢ir¤r¤¤¤¢¤:¤- _ (d) When any Foreign Service officerihas reached the age of · sixty-five years and rendered at least fifteen years of service he _1>e¤eu¤¤m mm- shall be retired: Pmmded, That the President may in his discretion
- °**· retain any such officer on active duty for such period not exceeding
Cmsmmmm of W five years as_he may deem for_the interest of the United States. uuitiesbuedonservice Sie) Annuities shall be paid to retired Foreign Service officers M; un er the following classification, based upon length of service and at the following percentages of the average annual basic salary for §£§.L°%3$3§?t“%t“ §§$°€${‘§Jh‘21d”‘°B°f{°“'E'“°“l’ C‘r1*· {tt? , ; ass , rom wen -seven o 1 years, 54 per centum; class C, from twenty-fouryto twenty-seveh years, 48 per centum; class D, from_ twenty-one to twenty-four years, 42 per centum; class E, from eighteen to twenty-one years, 36 per centum; class F, from fifteen to eighteen years, 30 per cen um.
- r;?v¤E8°&'§%§§%T£§ (f) Those officers who retire before having contributed for each
p,0,,,,,;,_,,,,,,,,,,,,,,,,,,,, year of service shall have_ withheld from their annuities to the r¤¤¤¤¤s· credit of the Foreign Service retirement and disability fund such proportion of 5 per centum as the number of years in which they Fund to be invested id not contribute bears to the total length of service. in P-sdm; ,,,c,,,m,,S_ _ (g) The Secretary of the Treasury is directed to invest from t1me_ to time in interest-bearing securities of the United States such portions of the Foreign Service retirement and disability fund as in his gudgment may not be immediately required for the payment of annuities, refunldsiland allowances, and the income derived from _ suc investments s a constitute a art of said fund. ggggglgmiit Qliqihii. (h) l\lone of the moneys mentiongd in this section shall be assign- ’ ‘ able, either in law or equity, or be sub]ect to execution, levy, or Ammm dying be attachment, garnishment, or other legal process. me tampa; mn or _ (1) In case an annmtant dies without having received in annuig;‘s";¤;’y;‘{)f§· ssc-kg; ties an amount equal to the total amount of his contributions from representative. salary with 1Ht€I‘BSl; hh€I`€O]1 at 4 per célltum pe? annum compounded annually up to the time of his death, the excess of the said accumu-
