Page:United States Statutes at Large Volume 100 Part 1.djvu/569

 PUBLIC LAW 99-335—JUNE 6, 1986

100 STAT. 533

"(c) Each alternative provided for under subsection (b) shall, to the extent practicable, be designed such that the present value of the benefits provided under such alternative (including any lump-sum credit) is actuarially equivalent to the sum of— "(1) the present value of the annuity which would otherwise be provided under this subchapter, as computed under section 8415; and "(2) the present value of the annuity supplement which would otherwise be provided (if any) under section 8421. "(d) An employee or Member who, at the time of retiring under this subchapter— "(1) is married, shall be ineligible to make an election under this section unless a waiver is made under section 8416(a); or "(2) has a former spouse, shall be ineligible to make an election under this section if the former spouse is entitled to benefits under section 8445 or 8467 (based on the service of the employee or Member) under the terms of a decree of divorce or annulment, or a court order or court-approved property settlement incident to any such decree, with respect to which the Office has been duly notified. "(e) An employee or Member who is married at the time of retiring under this subchapter and who makes an election under this section may, during the 18-month period beginning on the date of retirement, make the election provided for under section 8416(d), subject to the deposit requirement thereunder. "§ 8421. Annuity supplement 5 USC 8421. "(a)(1) Subject to paragraph (3), an individual shall, if and while entitled to an annuity under subsection (a), (b), (d), or (e) of section 8412, or under section 8414(c), also be entitled to an annuity supplement under this section. "(2) Subject to paragraph (3), dn individual shall, if and while entitled to an annuity under section 8412(f), or under subsection (a) or (b) of section 8414, also be entitled to an annuity supplement under this section if such individual is at least the applicable minimum retirement age under section 8412(h). "(3)(A) An individual whose entitlement to an annuity under section 8412 or 8414 does not commence before age 62 is not entitled to an annuity supplement under this section. "(B) An individual entitled to an annuity supplement under this section ceases to be so entitled after the last day of the month preceding the first month for which such individual would, on proper application, be entitled to old-age insurance benefits under title II of the Social Security Act, but not later than the last day of 42 USC 401. the month in which such individual attains age 62. "(b)(1) The amount of the annuity supplement of an annuitant under this section for any month shall be equal to the product of— "(A) an amount determined under paragraph (2), multiplied by "(B) a fraction, as described in paragraph (3). "(2) The amount under this paragraph for an annuitant is an amount equal to the old-age insurance benefit which would be payable to such annuitant under title II of the Social Security Act (without regard to sections 203, 215(a)(7), and 215(d)(5) of such Act) 42 USC 403, 415. upon attaining age 62 and filing application therefor, determined as if the annuitant had attained such age and filed application therefor, and were a fully insured individual (as defined in section 214(a)

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