Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-09

for payment of annuities, refunds and
allowances.
Under such regulations az NAV be
prescribed by the Secretary of the
interior after consultation with heads
of the executive departments and with
the approval of the President the
amounts deducted and withheld from
the basic pay OF each employee shall be
credited with interest at 4 per cent
compounded annually. to an individual
account for each employee.
He provides, however, that II and
when his bill goes into effect. 81 a
month shall be deducted from the en-
ployes salary and placed in the fund
for paying the basic annuity of $40 a
year for each service In case of the
death Of an annuitant, no part of the
amount to the credit of his individual
account shall be returned to his estate
unless at the time of his retirement he
shall have elected under rules and
regulations prescribed by the commits
sioner of pensions to take a reduced
annuity of equivalent value carving
with it proviso for the return of the
unpaid principal to his heirs upon his
death. If an employee should die with
out having attained eligibility for re-
tirement, or without establishing a
valid claim for annuity, the amount
credited to his individual account shall
be paid to the employees legal repre-
sentative, and If former employe be-
comes legally incompetent the amount
due him may be paid to a duly ap-
pointed guardian.
Annuities under the Lehlbach retire.
ment bill would be payable in monthly
installmentS on the first business day of
each month, payment to be made by
checks under safeguards prescribed by
the Secretary of the Interior,
Applications for annuity would be
made in such form as the commissioner
of pensions may prescribe.
Keep Records Of Service.
The Civil Service Commission is d.
rected by the Lelhbach bill to keep a
record of appointments. transfers.
changes in grades, separations from the
service, reinstatementS, loss of pay and
such other information concerning in
dividual service as may be deemed es-
sential to proper determination of
rights under this act.
The commissioner of pensions, with
the approval of the Secretary of the
Interior. is authorized to select three
actuarieS, one from the Government
service, to be known as the board of
actuarfeS, whose duty would be to re-
of the retirement act and with authority
to recommend to the commissioner of
pensions changes that they may deem
necessary to protect the public interest
and to maintain the system upon a
sound financial basis.
This board of actuaries would be re-
quired to make valuation of the civil
service retirement and disability fund
at intervals OF five years or oftener.
The salaries of the board of actu-
aries would be fixed by the commits
sioner of pensions. with the approval of
the Secretary of the Interior. The
commissioner of pensions Is charged
with administration Of the revised re-
tirement law and would be required to
make detailed, comparative report an
nually showing all receipts and disburse-
mentS, the total number of persons re-
ceiving annuities, and the recommen-
dationS of the board of actuaries.
The Secretary of the Interior would
be directed to submit to the Bureau of
the Budget annually estimates of ap-
preparations to finance the retirement
and disability fund.
Representative Lehlbach makes the
effective date of the act the first day of
the second month after its approval.