Sec. 704. REVISION IN METHOD BY WHICH ANNUAL PAY ADJUSTMENTS FOR CERTAIN EXECUTIVE, LEGISLATIVE, AND JUDICIAL POSITIONS ARE TO BE MADE
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## SEC. 704 REVISION IN METHOD BY WHICH ANNUAL PAY ADJUSTMENTS FOR CERTAIN EXECUTIVE, LEGISLATIVE, AND JUDICIAL POSITIONS ARE TO BE MADE ###
(a)Percent Change in the Employment Cost Index ####
(1)Method for computing percent change in the eci #####
(A)Definitions For purposes of this paragraph— ######
(i)the term “**Employment Cost Index**” or “ECI” means the Employment Cost Index (wages and salaries, private industry workers) published quarterly by the Bureau of Labor Statistics; and ######
(ii)the term “**base quarter**” means the 3-month period ending on December 31 of a year. #####
(B)Method For purposes of the provisions of law amended by paragraph (2), the “most recent percentage change in the ECI”, as of any date, shall be one-half of 1 percent less than the percentage (rounded to the nearest one-tenth of 1 percent) derived by— ######
(i)reducing— ######
(I)the ECI for the last base quarter prior to that date, by ######
(II)the ECI for the second to last base quarter prior to that date, ######
(ii)dividing the difference under clause
(i)by the ECI for the base quarter referred to in clause (i)(II), and ######
(iii)multiplying the quotient under clause
(ii)by 100, except that no percentage change determined under this paragraph shall be— ######
(I)less than zero; or ######
(II)greater than 5 percent. * * * * * * *