5 U.S.C. § 8463 — Rate of benefits
submitted 40 years ago by Pub. L. 99-335 to r/title-5-GOVERNMENT-ORGANIZATION-AND-EMPLOYEES · 44 words · no verdicts yet
Every annuity from the Fund is set as a yearly amount. That yearly amount is divided by twelve, rounded down to the nearest whole dollar, to get the monthly payment. The monthly payment goes out on the first business day of the month after the one it covers.
Every annuity paid from the Fund* is stated as a yearly amount. One-twelfth of that yearly amount, rounded down to the next lower dollar, is the monthly rate. That monthly amount is paid on the first business day of the month after the month it was earned for.
Each annuity payable from the Fund* is stated as an annual amount, one-twelfth of which, rounded to the next lower dollar, constitutes the monthly rate payable on the first business day of the first month beginning after the month for which it has accrued.
Source credit: (Added Pub. L. 99–335, title I, § 101(a), June 6, 1986, 100 Stat. 574.)
- 1986Enacted · Pub. L. 99-335 · 100 Stat. 574
A history note hasn’t been published yet. The record shows enactment by Pub. L. 99-335 on 1986-06-06.
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