66 S T A T. ]
of this amendment, was receiving or entitled to receive an annuity from the civil-service retirement and disability fund, shall be increased, effective on the first day of the second month following enactment of this amendment, by $36 for each full six-month period elapsed between the commencing date of annuity and October 1, 1952: Provided, That such increase in annuity shall not exceed the lesser of $324 or 25 per centum of the present annuity: Provided further, That no annuity shall be increased to an amount in excess of $2,160 by reason of the enactment of this amendment: And provided further, That the increases to retired employees provided by this subsection shall not operate to increase the annuities of their survivors. "(2) The increases in annuity provided by this subsection shall be paid from the civil-service retirement and disability fund, and shall terminate, without subsequent resumption, on June 30, 1955, or on an earlier date under any one of the following conditions, whichever may first occur: " (A) At the end of the second month following the third consecutive month for which the Consumers' Price Index of the Bureau of Labor Statistics is less than 169.9, the index for the month of April 1948. I n the event that the Bureau of Labor Statistics revises the basis of calculating the Consumers' Price Index, it shall immediately furnish to the Commission a conversion factor designed to adjust to the new basis the index figure of 169.9 described herein, and such adjusted index shall be used for the purposes of this subsection. " (B) On June 30, 1954, unless an appropriation is made to the civil-service retirement and disability fund in the applicable annual appropriation Act, for the fiscal year 1955, or in any prior appropriation Act, for the specific purpose of compensating said fund for the cost, as determined by the Commission, of increases provided by this subsection during the fiscal years 1954 and 1955." SEC. 2. (a) There is hereby created a body to be known as the Committee on Retirement Policy for Federal Personnel, which shall be composed of a chairman appointed by the President and, ex officio, the Secretary of the Treasury, the Secretary of Defense, the Chairman of the Board of Governors of the Federal Reserve System, the Director of the Bureau of the Budget, and the Chairman of the Civil Service Commission. (b) The Committee shall make a comparative study of all retirement systems for all Federal personnel and report to the Congress not later than December 31, 1953. Its report, including findings and recommendations, shall include the following: (1) the types and amounts of retirement and other related benefits provided to Federal personnel, including their role in the compensation system as a whole; (2) the necessity for special benefit provisions for selected employee groups, including overseas personnel and employees in hazardous occupations; (3) the relationships of these retirement systems to one another, to the Federal employees' compensation system, and to such general systems as old-age and survivors insurance; and (4) the current financial status of the several systems, the most desirable methods of cost determination and funding, the division of costs between the Government and the members of the systems, and the policies that should be followed in meeting the Government's portion of the cost of the various systems. (c) The Chairman of said Committee, under such rules and regulations as the President may prescribe, is authorized to procure services pursuant to section 15 of the Act of August 2, 1946 (5 U.S.C. 93300 O - 53 - 49
723
PUBLIC LAW 555--JULY 16, 1952
Restriction.
Termination.
Conditions.
Committee on Retirement P o l i c y for Federal Pei^ sonnel.
Duties. Report.
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