§ 2001. Definitions relating to the system

4,175 words·~19 min read·/usc/title-50/section-2001

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

When used in this chapter:

(1)Agency The term “Agency” means the Central Intelligence Agency.

(2)Director The term “Director” means the Director of the Central Intelligence Agency.

(3)Qualifying service The term “qualifying service” means service determined by the Director to have been performed in carrying out duties described in section 2013 of this title.

(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 The term “normal cost” means the level percentage of payroll required to be deposited in the fund to meet the cost of benefits payable under the system (computed in accordance with generally accepted actuarial practice on an entry-age basis) less the value of retirement benefits earned under another retirement system for government employees and less the cost of credit allowed for military service.

(7)Lump-sum credit The term “lump-sum credit” means the unrefunded amount consisting of retirement deductions made from a participant’s basic pay and amounts deposited by a participant covering earlier service, including any amounts deposited under section 2082(h) of this title.

(8)Congressional intelligence committees The term “congressional intelligence committees” means the Permanent Select Committee on Intelligence of the House of Representatives and the Select Committee on Intelligence of the Senate.

(9)Employee The term “employee” includes an officer of the Agency.

(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.)