Page:United States Statutes at Large Volume 106 Part 4.djvu/480

 106 STAT. 3216 PUBLIC LAW 102-496—OCT. 24, 1992 "(ii) by a lump-stun payment or installment pay- ments to the fund; or "(iii) by any combination thereof. present value of the total amount to accrue to the fund under subparagraph (A) to provide any annuity under this subsection shall be actuarially equivalent in value to such annuity, as calculated upon such tables of mortality as may from time to time be prescribed for this purpose by the Director. "(C) EFFECT OF FORMER SPOUSE'S DEATH OR DISQUAU- FICATION. —If a former spouse predeceases the participant or remarries before attaining age 55 (or, in the case of a spouse, the spouse predeceases or does not qualify as a former spouse upon dissolution of the marriage)— - "(i) if an annuity reduction or pay allotment under subparagraph (A) is in effect for that spouse or former spouse, the annuity shall be recomputed and paid as if it had not been reduced or the pay allotment terminated, as the case may be; and Regulations. «*(ii) any amount accruing to the fund under subparagraph (A) shall be refunded, but only to the extent that such amount may have exceeded the actuarial cost of providing benefits under this subsection for the period such benefits were provided, as determined under regulations prescribed by the Director. "(D) RECOMPUTATION UPON DEATH OR REMARRIAGE OF FORMER SPOUSE. — Under regulations prescribed by the Director, an annuity shall be recomputed (or a pay allotment terminated or adjusted), and a refund provided (if appropriate), in a manner comparable to that provided under subparagraph (C), in order to reflect a termination or reduction of future benefits under this subsection for a spouse in the event a former spouse of the participant dies or remarries before attaining age 55 and an increased annuity is provided for that spouse in accordance with this section. "(4) COMMENCEMENT AND TERMINATION OF ADDITIONAL SURVIVOR ANNUITY.—An annuity payable under this subsection to a spouse or former spouse shall commence on the day after the pcirticipant dies and shall terminate on the last day of the month before the former spouse's death or remarriage before attaining age 55. "(5) NONAPPLICABILITY OF COLA PROVISION. —Section 291 does not apply to an annuity under this subsection, unless authorized under regulations prescribed by the Director. 50 USC 2033. ««EC. 223. ELECTION OF SURVIVOR BENEFITS FOR CERTAIN FORMER SPOUSES DIVORCED AS OF NOVEMBER 15, 1982. "(a) FORMER SPOUSES AS OF NOVEMBER 15, 1982.— A participant, former participant, or retired participant in the system who on November 15, 1982, had a former spoiise may, by a spousal agreement, elect to receive a reduced annuity and provide a survivor annuity for such former spouse under section 222(b). "(b) TIME FOR MAKING ELECTION.—
 * (B) ACTUARIAL EQUIVALENCE TO BENEFir. —The

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