Page:United States Statutes at Large Volume 100 Part 1.djvu/64

 100 STAT. 28

PUBLIC LAW 99-251—FEB. 27, 1986 SEC. 307. 18-MONTH PERIOD TO ELECT A SURVIVOR ANNUITY UNDER THE CIVIL SERVICE RETIREMENT AND DISABILITY SYSTEM.

5 USC 8334.

(a) IN GENERAL.—Section 8339 of title 5, United States Code, is amended by adding at the end thereof the following: "(o)(DCA) An employee or Member— "(i) who, at the time of retirement, is married, and "(ii) who notifies the Office at such time (in accordance with subsection 0)) that a survivor annuity under section 8341(b) of this title is not desired, may, during the 18-month period beginning on the date of the retirement of such employee or Member, elect to have a reduction under subsection (j) made in the annuity of the employee or Member (or in such portion thereof as the employee or Member may designate) in order to provide a survivor annuity for the spouse of such employee or Member. "(B) An employee or Member— "(i) who, at the time of retirement, is married, and "(ii) who at such time designates (in accordance with subsection (j)) that a limited portion of the annuity of such employee or Member is to be used as the base for a survivor annuity under section 8341(b) of this title, may, during the 18-month period beginning on the date of the retirement of such employee or Member, elect to have a greater portion of the annuity of such employee or Member so used. "(2)(A) An election under subparagraph (A) or (B) of paragraph (1) of this subsection shall not be considered effective unless the amount specified in subparagraph (B) of this paragraph is deposited into the Fund before the expiration of the applicable 18-month period under paragraph (1). "(B) The amount to be deposited with respect to an election under this subsection is an amount equal to the sum of— "(i) the additional cost to the System which is associated with providing a survivor annuity under subsection (b)(2) of this section and results from such election taking into account (I) the difference (for the period between the date on which the annuity of the participant or former participant commences and the date of the election) between the amount paid to such participant or former participant under this subchapter and the amount which would have been paid if such election had been made at the time the participant or former participant applied for the annuity, and (II) the costs associated with providing for the later election; and "(ii) interest on the additional cost determined under clause (i) of this subparagraph computed using the interest rate specified or determined under section 8334(e) of this title for the calendar year in which the amount to be deposited is determined. "(3) An election by an employee or Member under this subsection voids prospectively any election previously made in the case of such employee or Member under subsection (j). "(4) An annuity which is reduced in connection with an election under this subsection shall be reduced by the same percentage reductions as were in effect at the time of the retirement of the employee or Member whose annuity is so reduced. "(5) Rights and obligations resulting from the election of a reduced annuity under this subsection shall be the same as the rights and

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