By the authority vested in me as President of the United States of America by Section 292 of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees, as amended (50 U.S.C. 403 note), and in order to further conform the Central Intelligence Agency Retirement and Disability System to certain amendments to the Civil Service Retirement and Disability System, it is hereby ordered as follows:
1-101. Section 291(b) of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees, as amended, shall be deemed to be amended (a) by striking out paragraph (1) thereof, and (b) by inserting in lieu thereof the following:
"(1) The first cost-of-living increase (if any) made to an annuity which is payable from the Central Intelligence Agency Retirement and Disability Fund to a participant who retires, or to the widow or widower of a deceased participant, shall be equal to the product (adjusted to the nearest of 1/10 of one percent) of:
a. 1/6 of the applicable percent change computed under subsection (a) of this Section, multiplied by
b. the number of full months for which the annuity was payable from the Fund before the effective date of the increase (counting any portion of a month as a full month).".
1-102. The amendment made by subsection 1-101 (a) hereof shall apply with respect to annuities commencing after January 19, 1981.
The White House,
January 16, 1981.
[Filed with the Office of the Federal Register, 10:21 a.m., January 19, 1981]