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22 U.S.C. § 4059 — Investment of Fund
Federal law — U.S. Code and appendices · legal_authorities
The Secretary of the Treasury shall invest from time to time in interest-bearing securities of the United States such portions of the Fund as in the judgment of the Secretary of the Treasury may not be immediately required for the payment of annuities, cash benefits, refunds, and allowances. The income derived from such investments shall constitute a part of the Fund.
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Stable record: federal_law:legal_authorities:record_usc_8f1a1865c067eb572100f995
Source file: Laws/federal/codes/united-states-code/title-22/section-4059-investment-of-fund--e861fae97b.md
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Source location: Title 22, Chapter 52, § 4059; chapter-052-foreign-service.md
Stored source content
The Secretary of the Treasury shall invest from time to time in interest-bearing securities of the United States such portions of the Fund as in the judgment of the Secretary of the Treasury may not be immediately required for the payment of annuities, cash benefits, refunds, and allowances. The income derived from such investments shall constitute a part of the Fund.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Rates and sources; deposits in Fund**
(1) Except as otherwise provided in this section, 7.25 percent of the basic salary received by each participant shall be deducted from the salary and contributed to the Fund for the payment of annuities, cash benefits, refunds, and allowances. The contribution by the employing agency shall be a percentage of basic salary equal to the percentage in effect under section 7001(d)(1) of the Balanced Budget Act of 1997 (Public Law 105–33; [22 U.S.C. 4045](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4045&num=0&edition=prelim) note), and section 505(h) of the Department of Transportation and Related Agencies Appropriations Act, 2001 (as enacted by Public Law 106–346; 114 Stat. 1356A–54), plus .25 percent of basic salary, and shall be made from the appropriations or fund used for payment of the salary of the participant. The employing agency shall deposit in the Fund the amounts deducted and withheld from basic salary and the amounts contributed by the employing agency.
(2) Notwithstanding the percentage limitation contained in paragraph (1) of this subsection—
(A) the employing agency shall deduct and withhold from the basic pay of a Foreign Service criminal investigator/inspector of the Office of the Inspector General, Agency for International Development, who is qualified to have his annuity computed in the same manner as that of a law enforcement officer pursuant to [section 8339(d) of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8339/d&num=0&edition=prelim), an amount equal to that to be withheld from a law enforcement officer pursuant to [section 8334(a)(1) of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8334/a/1&num
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 4045
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirements for payment**
(1) A participant is entitled to be paid a lump-sum credit if the participant—
(A) is separated from the Service for at least 31 consecutive days, or is transferred to a position in which the participant is not subject to this subchapter and remains in such a position for at least 31 consecutive days;
(B) files an application with the Secretary of State for payment of the lump-sum credit;
(C) is not reemployed in a position in which the participant is subject to this subchapter at the time the participant files the application;
(D) will not become eligible to receive an annuity under this part within 31 days after filing the application; and
(E) has notified any spouse or former spouse the participant may have of the application for payment in accordance with regulations prescribed by the Secretary of State.
Such regulations may provide for waiver of subparagraph (E) under circumstances described in [section 4046(b)(1)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4046/b/1/D&num=0&edition=prelim).
(2) Such lump-sum credit shall be paid to the participant and to any former spouse of the participant in accordance with subsection (i).
**(b) Recall service; return of contributions** Whenever an annuitant becomes separated from the Service following a period of recall service without becoming eligible for a supplemental or recomputed annuity under [section 4063 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4063&num=0&edition=prelim), the compulsory contributions of the annuitant to the Fund for such service, together with any special contributions the annuitant may have made for other service performed after the date of separation
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 4055
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Composition; election and return** 11 See Amendment of Section note below. The voluntary contribution account shall be the sum of unrefunded amounts voluntarily contributed prior to February 15, 1981, by any participant or former participant under any prior law authorizing such contributions to the Fund, plus interest compounded at the rate of 3 percent per year to the date of separation from the Service or (in case of participant or former participant separated with entitlement to a deferred annuity) to the date the voluntary contribution account is claimed, the commencing date fixed for the deferred annuity, or the date of death, whichever is earlier. Effective on the date the participant becomes eligible for an annuity or a deferred annuity and at the election of the participant, his or her account shall be—
(1) returned in a lump sum;
(2) used to purchase an additional life annuity;
(3) used to purchase an additional life annuity for the participant and to provide for a cash payment on his or her death to a beneficiary whose name shall be notified in writing to the Secretary of State by the participant; or
(4) used to purchase an additional life annuity for the participant and a life annuity commencing on his or her death payable to a beneficiary whose name shall be notified in writing to the Secretary of State by the participant, with a guaranteed return to the beneficiary or his or her legal representative of an amount equal to the cash payment referred to in paragraph (3).
**(b) Computation of benefits** The benefits provided by subsection (a)(2), (3), or (4) shall be actuarially equivalent in value to the payment provided for by subsection (a)(1) and shall be calculated upon such tables of mortality as may be from time to time prescribed for this purp
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 4065
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Civil Service and Foreign Service Retirement Systems** In order to maintain existing conformity between the Civil Service Retirement and Disability System under subchapter III of chapter 83 of title 5, and the Foreign Service Retirement and Disability System, whenever a law of general applicability is enacted which—
(1) affects the treatment of current or former participants, annuitants, or survivors under the Civil Service Retirement and Disability System; and
(2) affects treatment which, immediately prior to the enactment of such law, was substantially identical to the treatment accorded to participants, former participants, annuitants, or survivors under the Foreign Service Retirement and Disability System;
such law shall be extended in accordance with subsection (b) to the Foreign Service Retirement and Disability System so that it applies in like manner with respect to participants, former participants, annuitants, or survivors under that System.
**(b) Regulations to implement prescribed by Executive order** The President shall by Executive order prescribe regulations to implement this section and may make such extension retroactive to a date no earlier than the effective date of the provision of law applicable to the Civil Service Retirement and Disability System. Any provision of an Executive order issued under this section shall modify, supersede, or render inapplicable, as the case may be, to the extent inconsistent therewith—
(1) all provisions of law enacted prior to the effective date of that provision of the Executive order, and
(2) any prior provision of an Executive order issued under this section.
**(c) Federal Employees’ Retirement and Foreign Service Pension Systems** The President shall maintain, under the same conditions and in the same m
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 4067
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Federal law — U.S. Code and appendices · legal_authorities
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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4044/4&num=0&edition=prelim);
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4042&num=0&edition=prelim);
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4071e&num=0&edition=prelim) (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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4071c&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section4059&num=0&edition=prelim), 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)
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 4071a
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Federal law — U.S. Code and appendices · legal_authorities
Page 1501
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 4060
clude from the computation of creditable civil-
ian service under subsec. (a) of this section any
period of civilian service for which retirement
deductions or contributions have not been made
under section 4045(d) of this title unless—
(1) the participant makes a contribution for
such period as provided in such section 4045(d)
of this title; or
(2) no contribution is required for such service
as provided under section 4045(f) of this title as
deemed to be amended by this Order, or under
any other statute.
Editorial Notes
AMENDMENTS
1990—Subsec. (i)(2). Pub. L. 101–246 amended par. (2)
generally. Prior to amendment, par. (2) read as follows:
‘‘A former spouse shall not be considered as married to
a participant—
‘‘(A) for periods assumed to be creditable service
under section 4048(a) of this title or section 4049(e) of
this title, or
‘‘(B) for any extra period of creditable service pro-
vided under section 4057 of this title for service of a
participant at an unhealthful post unless the former
spouse resided with the participant at that post dur-
ing that period.’’
1986—Subsecs. (a), (b), (f), (h), (i)(1), (j)(1). Pub. L.
99–335 substituted ‘‘part’’ for ‘‘subchapter’’ wherever
appearing.
1983—Subsec. (a). Ex. Ord. No. 12446, § 4(b), designated
existing provisions as par. (1) and added pars. (2) to (4).
Subsec. (j). Ex. Ord. No. 12446, § 4(c), added subsec. (j).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by Pub. L. 99–335 effective Jan. 1, 1987,
see section 702(a) of Pub. L. 99–335, set out as an Effec-
tive Date note under section 8401 of Title 5, Govern-
ment Organization and Employees.
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by section 4
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 4059
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