CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP89-00066R000900080054-9
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 3
• Document Creation Date: December 22, 2016
• Document Release Date: January 14, 2011
• Sequence Number: 54
• Content Type: MISC

Sanitized Copy Approved for Release 2011/01/14: CIA-RDP89-00066R000900080054-9
FORM 5075 IVI EU DITIONSPREVIOUS
Sanitized Copy Approved for Release 2011/01/14: CIA-RDP89-00066R000900080054-9
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,tar SECRET
CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY SYSTEM
General
The Central Intelligence Agency Retirement Act of 1964 (P.L. 88-
643, 13 October 1964) authorized the establishment of a Central
Intelligence Agency Retirement and Disability System (CIARDS) for a
mainte-
would establishment
limited number dAgency whchybenefis the
todqual'fied
nance of a
beneficiaries
From the inception of the CIARDS, annuities to beneficiaries have
been provided exclusively from the CIARDS Fund maintained through:
(a) contributions deducted from basic salaries of participants designated
by the Director; (b) matching Agency (employer) contributions from the
appropriation from which salaries are paid; (c) transfers from other gov-
ernment retirement systems representing employee and matching
employer contributions plus interest for service of Agency employees
prior to the date they became participants and for any subsequent
integree service; (d) payments, beginning 1 October 1976, from employ-
ing agencies equal to annuities deducted from salaries of reemployed
annuitants; (e) income on investments in US Government securities; and
(f) direct appropriations, beginning with 1977, consistent with the provi-
1976))
b
er
sions of P.L. 94-522 (enacted 17 Octo
The benefits structure of CIARDS is essentially the same as for the
Civil Service Retirement System with only minor exceptions. These ex-
ceptions are (a) annuities are based upon a straight 2 percent of
high-three average salary for each year of service, not exceeding 35; (b)
under stipulated conditions a participant may retire with the consent of
the Director, or at his direction be retired, at age 50 with 20 years of
service, or a participant with 25 years of service may be retired by the
Director regardless of age; and (c) retirement is mandatory at age 65 for
personnel receiving compensation at the rate of grade GS-18 or above
and at age 60 for personnel receiving compensation at a rate less than
grade GS-18 except that t may, in the public interest, extend
service for up to five years
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