397

(a) Creation of the Program.— The Defined Contribution Program is hereby created. This Program shall consist of the establishment of an individual account for each person who enrolls in the System under the provisions of this subchapter. The contributions made by each participant to the Defined Contribution Program, as well as the return on investment thereon, shall be credited to such individual accounts, in accordance with § 397g of this title. The benefit to be paid to each participant upon separation from service, due to retirement or otherwise, shall depend on the total amount of contributions made to the Defined Contribution Program accumulated in the participant’s account after August 1, 2014, or the date of enrollment of the participant in the Defined Contribution Program, the return on investment of these contributions, and the pension granted on the basis thereof, in accordance with § 397i of this title.(b) Program participants.— The following persons shall participate in the Defined Contribution Program:(1) Any participant enrolled in the System as of July 31, 2014.(2) Any new participant who enrolls for the first time in the System on or after August 1, 2014.

ate in the Defined Contribution Program:(1) Any participant enrolled in the System as of July 31, 2014.(2) Any new participant who enrolls for the first time in the System on or after August 1, 2014. History —Dec. 24, 2013, No. 160, § 5.1.