Note: This document may not always reflect the actual appropriations determined by Congress. Final budget allocations for USAID's programs are not determined until after passage of an appropriations bill and preparation of the Operating Year Budget (OYB).
FOREIGN SERVICE RETIREMENT AND DISABILITY FUND
See footnote 1
FY 1997 FY 1998 FY 1999 Actual Estimate Request Foreign Service Retirement and Disability Fund $43,826,000 $44,508,000 $44,552,000
In FY 1974, amendments to the Foreign Assistance Act of 1961, as amended, permitted USAID career foreign service employees to become participants in the Foreign Service Retirement and Disability Fund.
The extension of coverage to USAID employees created an unfunded liability in the system. An actuarial determination by the Department of the Treasury shows that in FY 1999, $44,552,000 will be required to amortize this liability and the unfunded liability created by pay raises and benefit changes since FY 1974. For FY 1999, USAID is requesting an appropriation of this amount.
Footnote: 1 Authorized by Chapter 8 of the Foreign Service Act of 1980.
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