Public Law 76–545

That sections 6 and 7 of the Act entitled “An Act for the retirement of employees of the Alaska Railroad, Territory of Alaska, who are citizens of the United

49 Stat. 2020, 2021.

5 U. S. C., Supp. IV, §§ 745e, 745f.

States”, approved June 29, 1936 (49 Stat. 2017), are hereby amended to read as follows:

“Sec. 6.

The annuity of an employee retired under the provisions of this Act shall be composed of—

“(1)“(1)

A sum equal to $37.50 multiplied by the number of years of service, not to exceed thirty years, rendered (a) on the Alaska Railroad or (b) in the military or naval service of the United States in the Tropics or in Alaska; and

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“(2)“(2)

The annuity purchasable with the sum to the credit of the employee’s individual account, including accrued interest thereon computed as prescribed in section 11 (a) hereof, according to the experience of the Alaska Railroad retirement and disability fund as may from time to time be set forth in tables of annuity values by the board of actuaries; and

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“(3)“(3)

Thirty dollars multiplied by the number of years of service

Proviso.

Limitation on number of years.

rendered and not allowable under paragraph (1) hereof: Provided, That the number of years of service to be used in computing the allowance under paragraph (3) shall not exceed the difference between thirty and the number of allowable years of service under paragraph (1); and

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“(4)“(4)

Thirty-six dollars multiplied by the number of years’ service rendered in the Territory of Alaska in the construction of the Alaska Railroad, either in the employ of the Alaskan Engineering Commission and the Alaska Railroad or of either of them, between March 12,

Service on Isthmus of Panama.

1914, and July 1, 1923, phis the number of years’ service, if any, rendered on the Isthmus of Panama either in the employ of the Isthmian Canal Commission. or the Panama Railroad Company between May 4, 1904, and April 1, 1914.

Minimum annuity.

“In no case, however, shall the total annuity paid exclusive of that provided in paragraph (4) hereof, be less than an amount equal to the sum of—

“The average annual basic salary, pay, or compensation, not to

Method of computation.

exceed $2,000 per annum, received by the employee during any five consecutive years of allowable service at the option of the employee, multiplied by the number of years of service used in computing the annuity under paragraph (1) hereof, and divided by forty, and the average annual basic salary, pay, or compensation, not to exceed $1,600 per annum, received by the employee during any five consecutive years of allowable service at the option of the employee, multiplied by the number of years of service used in computing the annuity under paragraph (3) hereof, and divided by forty.

“The annuity granted under paragraphs (1), (3), and (4) of this

Annuity limited to three-fourths of average annual salary, pay, etc.

section shall not exceed three-fourths of the average annual basic salary, pay, or compensation received by the employee during any five consecutive years of allowable service at the option of the employee.

“Any employee at the time of his retirement may elect to receive,

Increased annuity at employee’s option.

in lieu of the life annuity herein described, an increased annuity of equivalent value which shall carry with it a proviso that no unexpended part of the principal upon the annuitant’s death shall be returned. For the purposes of this Act all periods of service shall be

Computation of periods of service.

computed in accordance with section 7 hereof, and the annuity shall be fixed at the nearest multiple of twelve.

“The term ‘basic salary, pay, or compensation’, wherever used in

“Basic salary, pay, or compensation”, bonuses, etc., excluded.

this Act, shall be so construed as to exclude from the operation of the Act all bonuses, allowances, overtime pay, or salary, pay, or compensation given in addition to the base pay of the position as fixed by law or regulation.

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“Sec. 7.

Subject to the provisions of section 8, hereof, the service

Accredited service.

Periods included.

which shall form the basis for calculating the amount of any benefit provided in this Act shall be computed from the date of original employment, whether as a classified or an unclassified employee in the civil service of the United States or under the municipal government of the District of Columbia, including periods of service at different times and in one or more departments, branches, or independent offices of the Government and service in Alaska with the Alaskan Engineering Commission and the Alaska Railroad, or of either of them, and service on the Isthmus of Panama with the Isthmian Canal Commission, the Panama Canal, or the Panama Railroad Company; also

Overseas service, etc.

periods of service performed overseas under authority of the United States and periods of honorable service in the Army, Navy, Marine Corps, or Coast Guard of the United States. In the case of an

Deduction of periods for which military, etc., pension based.

employee, however, who is eligible for and elects to receive a pension under any law, or retired pay on account of military or naval service, or compensation under the War Risk Insurance Act, the period of his military or naval service upon which such pension, retired pay, or compensation is based shall not be included, but nothing in this Act shall be so construed as to affect in any manner his right to a pension, or to retired pay, or to compensation under the War Risk Insurance Act in addition to the annuity herein provided.

“In computing length of service for the purposes of this Act all

Periods of separations, etc., excluded.

periods of separations from the service, and so much of any leave of absence without pay as may exceed six months in the aggregate in any calendar year, shall be excluded: Provided, That river-boat

Proviso.

River-boat employees engaged during navigation season.

employees, who in the past have been, or in the future may be, employed during the navigation season under a working agreement, shall for the purpose of this Act be considered in a leave-of-absence-without- pay status for the time prior and subsequent to the season of navigation during the calendar year in which employed.

Fractions of a month disregarded.

“In determining the total periods of service upon which the allowances are to be computed under section 6 hereof, the fractional part of a month, if any, shall be eliminated from each respective total period.”