Federal Benefit Payment Law and Legal Definition

According to 31 CFR 29.103 [Title 31 -- Money and Finance: Treasury; Subtitle A -- Office of the Secretary of the Treasury; Part 29 -- Federal Benefit Payments Under Certain District of Columbia Retirement Programs; Subpart A -- General Provisions], Federal Benefit Payment means “a payment for which the Department is responsible under the Act, to which an individual is entitled under the Judges Plan, the Police and Firefighters Plan, or the Teachers Plan, in such amount and under such terms and conditions as may apply under such plans, including payments made under these plans before, on, or after the October 1, 1997, effective date of the Act. Service after June 30, 1997, shall not be credited for purposes of determining the amount of any Federal Benefit Payment under the Teachers Plan and the Police and Firefighters Plan.”