TENTATIVE DETAILED DESCRIPTION OF PROPOSED AGENCY RETIREMENT SYSTEM

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP78-04718A002600170010-6
• Release Decision: RIFPUB
• Original Classification: C
• Document Page Count: 1
• Document Creation Date: December 9, 2016
• Document Release Date: June 13, 2001
• Sequence Number: 10
• Publication Date: July 14, 1958
• Content Type: REPORT

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I : CIA-RDP78-047JI18AR QW010-6
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MEMA
SUBJECT: Tentative Detailed Description of Proposed Agency Retirement System
7
1. The attached detailed description of a proposed Agency Retirement System
follows the format of the Kaplan Report of 1954. Comparison can be made with the
26 then-extant Federal Retirement Systems described in that report. The salient
features of the present proposal are:
(a) Restriction of coverage to true Career Employees of the Agency. ,rSee
paragraph I A, page 1 of the attached description.)
(b) Extension of coverage to certain contract employees, for operational
reasons of a long range nature. rSee paragraph I B 5(b), page 1.]
(c) The adoption of a proposal similar to one made by the Department of State
(which has been cleared by the Bureau of the Budget) which would permit
a retired Career Employee of the Agency to accept employment elsewhere
in the Government with sus nsion of only part, rather than all, of his
already earned annuity. LSee paragraph I B 6(a), page 2.2
(d) The application of the same principle as in (c) above to certain special
contract employees who have retired after age 50 so that they may be
utilized in certain operational situations of a long-range nature.
,L Bee paragraph I B 6(b), page 2.]
(e) The adoption of the "Ellsworth Formula" - early retirement with full
immediate annuity with permission of the Director at age 50 after 20
years creditable service, (military and civilian), 10 of which shall have
been spent overseas, 5 of the 10 having been spent as an Agency Career
Employee, with computation of annuity at straight 2p. See paragraph
I.I A 1, page 3.J
(f)