Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-29

2" We learn fAu r,vh.. ~~o,....s
;. To under PATE
act applies a sum equal to 31a per
centum of such employees basic salary,
pay or compensation. The amounts so
deducted and withheld from the basic
salary. pay or compensation of each
en1ploye shall, in accordance with such
procedure as may be prescribed by the
Controller General of the United States,
be deposited in the Treasury of the
United States to the credit of the civil
service retirement and disability fund"
created by the act of May %, 1920. and
said fund is hereby appropriated for
the payment Of annuities, refunds and
allowances as provided in this act.
The Secretary OF the Treasury is
hereby authorized and empowered in
carrying out the provisions of this act
to supplement the individual contri-
buttons of employees with moneys re-
ceived in the form of donations, gifts,
legacies, or requests, or otherwise, and
to receive, deposit, and invest for the
purposes of this act all moneys which
may be contributed by private indi-
viduals or corporations or organizations
for the benefit Of civil sevice employees
generally.
Every employee coming within the
provisions Of this act shall be deemed
to consent and agree to the deductions
from salary, pay, or compensation as
provided herein, and payment less such
deductions shall be q full and COM
plete discharge and acquittance Of all
claims and demands whatsoever for all
regular services rendered by such en-
ploye during the period covered by such
payment, except the right to the bene-
fits to which he shall be entitled under
the provisions Of this act, notwithstand-
ing the provisions of section 1877, 1853.
and 1859 Of the Revised Statutes Of the
United States, and of any other law,
rule, or regulation affecting the salary,
pay or compensation of any person or
persons employed in the civil service to
whom this act applies.
Investment and Accounts.
Section II. The Secretary Of the
Treasury shall invest from time to time,
in Understanding securities of the
United States or Federal farm-loan
bonds, such portions of the civil
service retirement and disability fund"
AZ in his judgment may not be lmmedi-
ately required for the payment of an
nuities, refunds, and allowances as
herein provided, and the income derived
from such investments shall constitute
a part of said fund for the purpose of
paying annuities and of carrying out
the provisions of section IL Of this act
Returns Of Reductions.
Section II. (a) Under such regula-
tons as may be prescribed by the Civil
Service Commission the amounts de-
dYH0fad and withhold frOV1n the eia
salary, pay, or compensation Of each
employe for credit to the "civil-service
retirement and disability fund" credited
by the act of May %, 1920, covering
service during the period from August
/, 1920, to the effective date of this act,
shall be credited to an individual ac-
count of such employee to be maintained
by the department or Office by which he
is employed. and the amounts deducted
and withheld from the basic salary,
pay, or compensation of each employe
for credit to the "civil-Service retire
ment and disability fund" covering
service from and after the effective
date of this act, less the sum of 81 per
month or major fraction thereof, shall
similarly be credited to such individual
account.
(b) In the case Of any employe to
whom this act applies who shall be
transferred to q position not within the
purvieW of the act, or who shall become
absolutely separated from the service
before becoming eligible for retirement
on annuity, the amount credited to his
individual account shall be returned to
such employe, together with interest at
Der centum per annum compounded
on June 80 Of each year: Provided, that
when any employe becomes involuntar-
kaA hn
removal for cause on charges of mis-
conduct or delinquency, the total
amount Of his deductions with interest
thereon shall be paid to such employe:
And provided further, that all money
so returned to an employe must, upon
reinstatement, retranSfer or reappoint-
ment. to a position coming within the
purview of this act, be redeposited with
interest before such employe may de-
rive any benefits under this act, ex-
cept as provided in this section, but
interest shall not be required covering
any period Of separation from the
service.
(c) In case an annuitant shall die
without having received in annuities
purchased by the employees contribu-
tons IS provided In CD OF section 4
hereof an amount equal to the total
amount to his credit at time OF retire.
ment, the amount remaining to his
credit shall be paid in one sum to his
legal representatives upon the eStab-
lishment of q valid claim therefor, I'M
less the annuitant shall have elected TO
receive an increased annuity as pro-
vided In section hereof.
cd In case an employe snail Ole
without having attained eligibility for
retirement or without having estab-
lished q valid claim for annuity, the
total amount of his deductions with in
terest thereon shall be paid to the legal
representatives Of such employe.
(e) In case O former employe entitled
to the return Of the amount credited to
his individual account shall become le-
gally incompetent, the total amount due
may be paid to duly appointed guard
ian or committee of such employe.
% If the amount Of accrued annu-
ity or of refund due former employe
who Is legally incompetent does not ex-
coed 81 900, and II there has been no
demand upon the Commissioner of PEN
sions by duly appointed executor, adj
ministrator, guardian or committee,
payment may be made, after the expi-
ration of 80 days from date OF death or
of separation from the service, as the
case may be. to such person or persons
as may appear in the Judgment OF the
Commissioner Of Pensions to be legally
entitled thereto, and such payment shall
be a har to recovery by any other