Page:United States Statutes at Large Volume 92 Part 2.djvu/1261

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PUBLIC LAW 95-000—MMMM. DD, 1978

PUBLIC LAW 95-595—NOV. 4, 1978

92 STAT. 2541

Public Law 95-595 95th Congress An Act To amend the Budget and Accounting Procedures Act of 1950 to require that the Comptroller General provide for a financial audit with respect to pension plans for officers and employees of the Federal Government and its agencies and instrumentalities, to require that an annual report, including a financial statement and an actuarial statement, be furnished to the Congress and the Comptroller General with respect to such plans, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. Part II of title I of the Budget and Accounting Procedures Act of 1950 (64 Stat. 832) is amended by adding at the end thereof the following new matter: "Subpart C

Nov. 4, 1978 [H.R. 9701]

Budget and Accounting Procedures Act of 1950, amendment. 31 USC 1 note. 31 USC 65 et seq.


"SEC. 120. It is the purpose of this subpart to protect the interests 31 USC 68. of the Nation and of the participants and their beneficiaries in Federal Government pension plans and certain othor pension plans by requiring full disclosure of the financial condition of such plans. "SEC. 121. (a) Notwithstanding any other provision of law or any 31 USC 68a. administrative determination to the contrary, each Federal Government pension plan and each plan described in section 123(b), except as specified in subsection (b) of this section, shall be deemed to be subject to the provisions of section 103 of the Employee Retirement Income Security Act of 1974 in the same manner as an employee pen- 29 USC 1023. sion benefit plan to which such section applies, except that, with respect to such a Federal Government pension plan or a plan described in section 123(b)— "(1) the annual report required by such section shall be in such form, and shall include such information and data, as the President, in consultation with the Comptroller General (or in the case of a plan described in section 123(a)(9) or 123(b), the Comptroller General) may prescribe; "(2) the annual report required by such section shall be furnished to the Congress and to the Comptroller General, not later than the end of the two hundred and ten-day period beginning on the day after the last day of the plan year involved; "(3) unless specifically authorized by the Comptroller General, no provision of such section which provides for waiver of, relief from, or exception to any requirement otherwise applicable to an employee pension benefit plan shall be deemed to apply to such Federal Government pension plan or such plan described in section 123(b); "(4) the provisions of section 104(b) of such Act shall not 29 USC 1024. apply; "(5) the report required by this subpart shall be in addition to and shall not supersede other reports or projections required by law: and