50 USC 2001 - Definitions relating to the system

U.S Code last checked for updates: Nov 22, 2024

§ 2001.

Definitions relating to the system

When used in this chapter:

(1)

Agency

(2)

Director

(3)

Qualifying service

(4)

Fund balance

The term “fund balance” means the sum of—

(A)

the investments of the fund calculated at par value; and

(B)

the cash balance of the fund on the books of the Treasury.

(5)

Unfunded liability

The term “unfunded liability” means the estimated amount by which—

(A)

the present value of all benefits payable from the fund exceeds

(B)

the sum of—

(i)

the present value of deductions to be withheld from the future basic pay of participants subject to subchapter II and of future Agency contributions to be made on the behalf of such participants;

(ii)

the present value of Government payments to the fund under sections 2091(c) and 2091(d) of this title; and

(iii)

the fund balance as of the date on which the unfunded liability is determined.

(6)

Normal cost

(7)

Lump-sum credit

(8)

Congressional intelligence committees

(9)

Employee

(Pub. L. 88–643, title I, § 101, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3197; amended Pub. L. 103–178, title II, § 202(a)(1), Dec. 3, 1993, 107 Stat. 2025; Pub. L. 108–458, title I, § 1071(c), Dec. 17, 2004, 118 Stat. 3691.)

cite as: 50 USC 2001