Page:United States Statutes at Large Volume 106 Part 4.djvu/504

 106 STAT. 3240 PUBLIC LAW 102-496—OCT. 24, 1992 "Part J—Cost-of-Living Adjustment of Annuities 50 USC 2131. <n3EC. 291. COST-OF-LIVING ADJUSTMENT OF ANNUITIES. "(a) IN GENERAL.—Each annuity payable from the fund shall be adjusted as follows: "(1) Each cost-of-living annuity increase under this section shall be identical to the corresponding percentage increase under section 8340(b) of title 5, United States Code. "(2) A cost-of-living increase made under paragraph (1) shall become effective under this section on the effective date of each such increase under section 8340(b) of title 5, United States Code. Except as provided in subsection (b), each such increase shall be applied to each annuity payable from the fund which has a commencing date not later than the effective date of the increase. "(b) ELIGIBILITY.—Eligibility for an annuity increase under this section shall be governed by the commencing date of each annuity payable from the fund as of the effective date of an increase, except as follows: "(1) The first cost-of-living increase (if any) made under subsection (a) to an annuity which is payable from the fund to a participant who retires, to the surviving spouse, former spouse, or previous spouse of a participant who dies in service, or to the surviving spouse, former spouse, previous spouse, or insurable interest designee of a deceased annuitant whose annuity has not been increased under this subsection or subsection (a), shall be equal to the product (adjusted to the nearest Vio of one percent) of— "(A) Vi2 of the applicable percent change computed under subsection (a), militiplied by "(B) the number of months (not to exceed 12 months, counting any portion of a month as a month)— "(i) for which the annuity was payable fvora the fund before the effective date of the increase, or "(ii) in the case of a surviving spouse, former spouse, previous spouse, or insurable interest designee of a deceased annuitant whose annuity has not been so increased, since the annuity was first payable to the deceased annuitant. "(2) Effective from its commencing date, an annuity payable from the fund to an annuitant's survivor (other than a child entitled to an annuity under section 221(d) or section 232(c)) shall be increased by the total percentage increase the annuitant was receiving under this section at death. "(3) For purposes of computing the annuity of a child under section 221(d) that commences after October 31, 1969, the doUcur amounts specified in section 221(d)(3) shall each be increased by the total percentage increases allowed and in force under this section on or after such day and, in the case of a deceased annuitant, the percentages specified in that section shall be increased by the total percent allowed and in force to the annuitant under this section on or after such day.

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