Page:United States Statutes at Large Volume 100 Part 1.djvu/648

 100 STAT. 612

PUBLIC LAW 99-335—JUNE 6, 1986

SEC. 408. ALTERNATE FORMS OF ANNUITIES.

Regulations. 22 USC 4048.

22 USC 4046.

Post, p. 615.

Section 807 (22 U.S.C. 4047) is amended by adding at the end thereof the following: "(e)(1) The Secretary of State shall prescribe regulations under which a participant may, at the time of retiring under this subchapter (other than under section 808), elect annuity benefits under this section instead of any other benefits under this subchapter (including survivor benefits) based on the service of the participant. "(2) Subject to paragraph (3), the Secretary of State shall by regulation provide for such alternative forms of annuities as the Secretary considers appropriate, except that among the alternatives offered shall be— "(A) an alternative which provides for— "(i) payment of the lump-sum credit (excluding interest) to the participant; and "(ii) payment of an annuity to the participant for life; and "(B) in the case of a participant who is married at the time of retirement, an alternative which provides for— "(i) payment of the lump-sum credit (excluding interest) to the participant; and "(ii) payment of an annuity to the participant for life, with a survivor annuity payable for the life of a surviving spouse. "(3) Each alternative provided for under paragraph (2) shall, to the extent practicable, be designed such that the total value of the benefits provided under such alternative (including any lump-sum credit) is actuarially equivalent to the value of the annuity which would otherwise be provided the participant under this subchapter, as Computed under section 806(a). "(4) A participant who, at the time of retiring under this subchapter— "(A) is married, shall be ineligible to make an election under this section unless a waiver is made under section 806(b)(1)(B); or "(B) has a former spouse, shall be ineligible to make an election under this section if the former spouse is entitled to benefits under this subchapter (based on the service of the participant) unless a waiver has been made under section 806(b)(1)(C). "(5) A participant 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 806(n), subject to the deposit requirement thereunder. "(6) Notwithstanding any other provision of law, any lump-sum credit provided pursuant to an election under this subsection shall not preclude an individual from receiving any other benefits under this subsection.". SEC. 409. TREATMENT OF CERTAIN RECALL SERVICE. Section 823 (22 U.S.C. 4063) is amended by adding at the end thereof the following: "(c) If an annuitant becomes subject to subchapter II of this chapter by reason of recall service— "(1) subsections (a) and (b) shall not apply to such annuitant; and

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