Page:United States Statutes at Large Volume 103 Part 2.djvu/933

 PUBLIC LAW 101-227—DEC. 12, 1989 103 STAT. 1943 Public Law 101-227 101st Congress An Act Dec. 12, 1989 [H.R. 3629] 5 USC 8343a note. Extending the authority of the Secretary of Commerce to conduct the quarterly financial report program under section 91 of title 13, United States Code, through September 30, 1993. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 4(b) of Public Law 97-454 (13 U.S.C. 91 note) is amended by striking "7 years after such effective date." and inserting "after September 30, 1993.". SEC. 2. PARTIAL DEFERRED PAYMENT OF LUMP-SUM CREDIT FOR CERTAIN INDIVIDUALS ELECTING ALTERNATIVE FORMS OF ANNUITIES. (a) IN GENERAL.—Notwithstanding any other provision of law, and except as provided in subsection (c), any lump-sum credit payable to an employee or Member pursuant to the election of an alternative form of annuity by such employee or Member under section 8343a or section 8420a of title 5, United States Code, shall be paid in accord- ance with the schedule under subsection (b) (instead of the schedule which would otherwise apply), if the commencement date of the annuity payable to such employee or Member occurs after Decem- ber 2, 1989, and before October 1, 1990. (b) SCHEDULE OF PAYMENTS.— The schedule of payment of any lump-sum credit subject to this section is as follows: (1) 50 percent of the lump-sum credit shall be payable on the date on which, but for the enactment of this section, the full amount of the lump-sum credit would otherwise be payable. (2) The remainder of the lump-sum credit shall be payable on the date which occurs 12 months after the date described in paragraph (1). An amount payable in accordance with paragraph (2) shall be payable with interest, computed using the rate under section 8334(e)(3) of title 5, United States Code. (c) EXCEPTIONS.—The Office of Personnel Management shall pre- Regulations, scribe regulations to provide that, unless the individual involved indicates otherwise by written notice to the Office (submitted at such time and in such manner as the regulations may require), this section shall not apply— (1) in the case of any individual who is separated from Government service involuntarily, other than for cause on charges of misconduct or delinquency; and (2) in the case of any individual as to whom the application of this section would be against equity and good conscience, due to a life-threatening affliction or other critical medical condition affecting such individual. (d) ANNUITY BENEFITS NOT AFFECTED.—Nothing in this section shall affect the commencement date, the amount, or any other aspect of any annuity benefits payable under section 8343a or section 8420a of title 5, United States Code.

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