Page:United States Statutes at Large Volume 102 Part 4.djvu/945

 PUBLIC LAW 100-659—NOV. 15, 1988 /

102 STAT. 3915

"(2) SPOUSES AND FORMER SPOUSES.—(A) Payment of the lumpsum credit under paragraph (I)(A) or a payment under paragraph (IXG)"(i) may be made only if any current spouse and any former spouse of the bankruptcy judge or magistrate are notified of the bankruptcy judge's or magistrate's application; and "(ii) shall be subject to the terms of a court decree of divorce, annulment, or legal separation or any court or court approved property settlement agreement incident to such decree, if— "(I) the decree, order, or agreement expressly relates to any portion of the lump-sum credit or other payment involved; and "(II) payment of the lump-sum credit or other payi ment would extinguish entitlement of the bankruptcy judge's or magistrate's spouse or former spouse to any portion of an annuity under subsection (i). "(B) Notification of a spouse or former spouse under this paragraph shall be made in accordance with such requirements as the Director of the Administrative Office of the United States Courts shall by r ^ u l a t i o n prescribe. The Director may provide under such regulations that subparagraph (A)(i) may be waived with respect to a spouse or former spouse if the bankruptcy judge or magistrate establishes to the satisfaction of the Director that the whereabouts of such spouse or former spouse cannot be determined. "(C) The Director shall prescribe regulations under which this Regulations. p a r s ^ a p h shall be applied in any case in which the Director receives two or more orders or decrees described in subparagraph (A). "(3) DEFINITION.—For purposes of this subsection, the term 'lump-sum credit' means the unrefunded amount consisting of— "(A) retirement deductions made under this section from the salary of a bankruptcy judge or magistrate; "(B) amounts deposited under subsection (k) by a bankruptcy judge or magistrate covering earlier service; and "(C) interest on the deductions and deposits which, for any calendar year, shall be equal to the overall average yield to the Judicial Officers' Retirement Fund during the preceding fiscal year from all obligations purchased by the Secretary of the Treasury during such fiscal year under subsection (o); but does not include interest— "(i) if the service covered thereby aggregates 1 year or less; or "(ii) for the fractional part of a month in the total service.
 * (o) JUDICIAL OFFICERS' RETIREMENT FUND.—

"(1) ESTABLISHMENT.—There is established in the Treasury a fund which shall be known as the 'Judicial Officers' Retirement Fund'. The Fund is appropriated for the payment of annuities, refunds, and other payments under this section. "(2) INVESTMENT OF FUND.—The Secretary of the Treasury

shall invest, in interest bearing securities of the United States, such currently available portions of the Judicial Officers' Retirement Fund as are not immediately required for payments

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