Page:United States Statutes at Large Volume 110 Part 2.djvu/522

 110 STAT. 3009 -375 PUBLIC LAW 104-208—SEPT. 30, 1996 "(b) Subject to section 8435 of this title, any employee or Member who separates from Government employment is entitled and may elect to withdraw from the Thrift Savings Fund the balance of the employee's or Member's account as— "(1) an annuity; "(2) a single payment; "(3) 2 or more substantially equal payments to be made not less frequently than annually; or "(4) any combination of payments as provided under paragraphs (1) through (3) as the Executive Director may prescribe by regulation. "(c)(1) In addition to the right provided under subsection (b) to withdraw the balance of the account, an employee or Member who separates from Government service and who has not made a withdrawal under subsection (h)(1)(A) may make one withdrawal of any amount as a single payment in accordance with subsection (b)(2) from the employee's or Member's account. "(2) An employee or Member may request that the amount withdrawn from the Thrift Savings Fund in accordance with subsection (b)(2) be transferred to an eligible retirement plan. "(3) The Executive Director shall make each transfer elected under paragraph (2) directly to an eligible retirement plan or plans (as defined in section 402(c)(8) of the Internal Revenue Code of 1986) identified by the employee. Member, former employee, or former Member for whom the transfer is made. "(4) A transfer may not be made for an employee, Member, former employee, or former Member under paragraph (2) until the Executive Director receives from that individual the information required by the Executive Director specifically to identify the eligible retirement plan or plans to which the transfer is to be made."; (2) in subsection (d)— (A) in paragraph (1) by striking out "Subject to paragraph (3)(A)" and inserting in lieu thereof "Subject to paragraph (3)"; (B) by striking out paragraph (2) and redesignating paragraph (3) as paragraph (2); and (C) in paragraph (2) (as redesignated under subparagraph (B) of this paragraph)— (i) in subparagraph (A) by striking out "(A)"; and (ii) by striking out subparagraph (B); (3) in subsection (f)(1)— (A) by striking out "$3,500 or less" and inserting in lieu thereof "less than an amount that the Executive Director prescribes by regulation"; and (B) by striking out "unless the employee or Member elects, at such time and otherwise in such manner as the Executive Director prescribes, one of the options available under subsection (b), or" and inserting a comma; (4) in subsection (f)(2)— (A) by striking out "February 1" and inserting in lieu thereof "April 1"; (B) in subparagraph (A)— (i) by striking out "65" and inserting in lieu thereof "70^2"; and (ii) by inserting "or" after the semicolon; (C) by striking out subparagraph (B); and

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