This increase is necessary to provide for annualization of the 1987 pay raises for General Schedule and Wage Board employees effective in January 1987. Funds have been requested in the fiscal 1987 supplemental to cover the increases from the effective dates through September 30, 1987. Included in this amount is $83,400 to provide for annualization of the 1987 pay raises for the local staff in the Library of Congress Field Offices.

P.L. 99-335, the Federal Employees' Retirement System Act of 1986 (FERS), established a retirement program for Federal civilian employees hired after December 31, 1983, and for employees under the Civil Service Retirement System (CSRS) who choose to transfer into the new system. The effective date of coverage of post-1983 hires under FERS is January 1, 1987. This amount is necessary to provide for annualization of the 1987 costs and increased costs projected for 1988 based on assumptions provided by OMB in Bulletin No. 87-2, October 24, 1986.

Personnel Benefits ........................

$5,368,000

D.

One extra day .....

Fiscal 1987 requires the 1988 will have 262 days.

payment of salary funds for a total of 261 days; fiscal Funds are requested to cover the extra day.

$

376,232 75,246

E.

Accident Compensation reimbursement to Employees' Compensation Fund

The Library's reimbursement to the Bureau of Employee's Compensation for benefits and other payments for fiscal 1986 is more than the amount budgeted for those purposes as follows:

Cost ........

Available

-394,253 46,903