Page:United States Statutes at Large Volume 100 Part 1.djvu/628

 100 STAT. 592

Regulations.

PUBLIC LAW 99-335—JUNE 6, 1986

retiring under this subchapter (other than under section 8337 of this title), elect annuity benefits under this section instead of any other benefits under this subchapter (including any benefits under section 8341 of this title) based on the service of the employee or Member. "(b) Subject to subsection (c), the Office shall by regulation provide for such alternative forms of annuities as the Office considers appropriate, except that among the alternatives offered shall be— "(1) an alternative which provides for— "(A) payment of the lump-sum credit to the employee or Member; and "(B) payment of an annuity to the employee or Member for life; and "(2) in the case of an employee or Member who is married at the time of retirement, an alternative which provides for— "(A) payment of the lump-sum credit to the employee or Member; and "(B) payment of an annuity to the employee or Member for life, with a survivor annuity payable for the life of a surviving spouse. "(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 present value of the annuity which would otherwise be provided the employee or Member under this subchapter, as computed under subsections (a)-(i) and (n) of section 8339 of this title. "(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 8339(j)(l) of this title; 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 8341(h) or 8345(j) of this title (based on the service of the employee or Member) under the terms of a decree of divorce or annulment, or a court order or courtapproved 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 8339(o) of this title, subject to the deposit requirement thereunder.". (b) CONFORMING AMENDMENTS.—(1) The analysis for chapter 83 of

title 5, United States Code, is amended by inserting after the item relating to section 8343 the following: "8343a. Alternative forms of annuities.".

(2) The second sentence of section 8342(a) of title 5, United States Code, is amended by striking "The" and inserting in lieu thereof "Except as provided in section 8343a of this title, the". SEC. 205. RETIREMENT COUNSELING.

(a) IN GENERAL.—Subchapter III of chapter 83 of title 5, United States Code, as amended by section 201(b), is further amended by adding at the end thereof the following:

�