Judicial Survivors' Annuities Reform Act

(Reported to House from the Committee on the Judiciary with amendments, H. Rept. 94-1604)

Judicial Survivors' Annuities Reform Act - Establishes in the Treasury of the United States a fund to be known as "The Judicial Survivors' Annuities Fund." Sets forth the procedures under which specified amounts deducted from the salaries of judicial officials are to be deposited in the Treasury and credited to the Judicial Survivors' Annuities Fund.

Authorizes deposits into the Fund from prior governmental service to be credited in computing annuity amounts under this Act.

Establishes individual accounts in the name of each judicial official within the Fund.

Authorizes the Secretary of the Treasury to invest portions of the Fund in interest bearing securities.

Stipulates the conditions under which an annuity shall be paid from the Fund, the amounts of annuities for surviving dependent children, and the conditions under which the payment of annuities shall terminate.

Authorizes the Director of the Administrative Office of the U.S. Courts to determine all questions of dependency or disability arising under this Act, subject only to the review of the Judicial Conference of the United States.

Stipulates the conditions under which annuity payments from the Fund may be made to guardians or fiduciaries of annuitants.

Defines those years of service by a judicial official which may be deemed creditable years of service to be used in computing an annuity.

Authorizes periodic cost of living increases in annuities paid from the Fund. Increases the annuity by three percent for every five percent increase in the salary of the office in which the judicial official rendered some portion of his or her final 18 months of creditable service.

Creates a plan of descent and distribution of all monies in a judicial official's individual account, where such official dies without enough creditable service to qualify his survivors for an annuity or without being survived by any annuitants.

Directs the Secretary of the Treasury to ascertain from the Director of the Administrative Office of the U.S. Courts, the cost deficiency existing in the judicial survivors' annuity fund established by the Act of August 3, 1956.

Provides that upon the effective date of this Act, each annuity paid from the judicial survivors' annuity fund established by the Act of August 3, 1956, shall be increased by a specified amount. Authorizes to be appropriated such funds as are necessary to make such increased payments.

Entitles judicial officers who previously participated in the judicial survivors annuity program to elect to terminate their participation within 180 days of the enactment of these provisions.