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[Congressional Presentation]

FOREIGN SERVICE RETIREMENT AND DISABILITY FUND

  FY 1998
Actual		 FY 1999
Estimate		 FY 2000
Request
Foreign Service Retirement
   and Disability Fund 1		 $44,208,000 $44,552,000 $43,837,000

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 2000, $43,837,000 will be required to amortize this liability and the unfunded liability created by pay raises and benefit changes since FY 1974. For FY 2000, USAID is requesting an appropriation of this amount.

1 Authorized by Chapter 8 of the Foreign Service Act of 1980
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