Page:United States Statutes at Large Volume 112 Part 5.djvu/651

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PUBLIC LAW 105-382—NOV. 13, 1998 112 STAT. 3409 attains 57 years of age or completes 20 years of service if then over that age.". SEC. 4. EFFECTIVE DATE; APPLICABILITY. 22 USC 4044 (a) IN GENERAL.—Except as provided in subsection (b), this Act and the amendments made by this Act— (1) shall take effect on the date of the enactment of this Act; and (2) shall apply with respect to— (A) any individual first appointed on or after that date as a special agent who will have any portion of such individual's annuity computed in conformance with section 806(a)(6) of the Foreign Service Act; and (B) any individual making an election under subsection (b), subject to the provisions of such subsection. (b) ELECTION FOR CURRENT PARTICIPANTS.— (1) ELIGIBILITY.— An election under this subsection may be made by any currently employed participant under chapter 8 of the Foreign Service Act of 1980 who is serving or has served as a special agent, or by a survivor of a special agent who was eligible to m^e an election under this section. (2) EFFECT OF AN ELECTION.— (A) IN GENERAL. — I f an individual makes an election under this subsection, the amendments made by this Act shall become applicable with respect to such individual, subject to subparagraph (B). (B) TREATMENT OF PRIOR SERVICE.— (i) SPECIAL CONTRIBUTION. — An individual may, after making the election under this subsection, make a special contribution up to the full amount of the difference between the contributions actually deducted from pay for prior service and the deductions that would have been required if the amendments made by this Act had then been in effect. Any special contributions under this clause shall be computed under regulations based on section 805(d) of the Foreign Service Act of 1980 (as amended by section 2), including provisions relating to the computation of interest. (ii) ACTUARIAL REDUCTION.— (I) RULE IF THE SPECIAL CONTRIBUTION IS PAID.— I f the full amount of the special contribution under clause (i) is paid, no reduction under this clause shall apply. (II) RULE IF LESS THAN THE ENTIRE AMOUNT IS PAID.— I f no special contribution under clause (i) is paid, or if less than the entire amount of such special contribution is paid, the recomputed annuity shall be reduced by an amount sufficient to make up the actuarial present value of the shortfall. (c) REGULATIONS AND NOTICE. — Not later than 6 months after Deadline, the date of the enactment of this Act, the Secretary of State— (1) shall promulgate such regulations as may be necessary to carry out this Act; and (2) shall take measures reasonably designed to provide notice to participants as to any rights they might have under this Act.