Page:United States Statutes at Large Volume 110 Part 3.djvu/826

 110 STAT. 2556 PUBLIC LAW 104-201—SEPT. 23, 1996 "(ii) shall be made within one year after the person's remarriage; and "(iii) shall be made in such form and manner as may be prescribed in regulations under section 1455 of this title. "(D) NOTICE TO SPOUSE. —If a person makes an election under this paragraph— "(i) not to participate in the Plan; "(ii) to provide an annuity for the person's spouse at less than the maximum level; or "(iii) to provide an annuity for a dependent child but not for the person's spouse, the person's spouse shall be notified of that election. "(E) CONSTRUCTION WITH FORMER SPOUSE ELECTION PROVISIONS. —This paragraph does not affect any right or obligation to elect to provide an annuity to a former spouse under subsection (b). "(b) INSURABLE INTEREST AND FORMER SPOUSE COVERAGE. — " (1) COVERAGE FOR PERSON WITH INSURABLE INTEREST.— "(A) GENERAL RULE. —^A person who is not married and does not have a dependent child upon becoming eligible to participate in the Plan may elect to provide an annuity under the Plan to a natural person with an insurable interest in that person. In the case of a person providing a reserve-component annuity, such an election shall include a designation under subsection (e). "(B) TERMINATION OF COVERAGE.^AU election under subparagraph (A) for a beneficiary who is not the former spouse of the person providing the annuity may be terminated. Any such termination shall be made by a participant by the submission to the Secretary concerned of a request to discontinue participation in the Plan, and such participation in the Plan shall be discontinued effective on the first day of the first month following the month in which the request is received by the Secretary concerned. Effective on such date, the Secretary concerned shall discontinue the reduction being made in such person's retired pay on account of participation in the Plan or, in the case of a person who has been required to make deposits in the Treasury on account of participation in the Plan, such person may discontinue making such deposits effective on such date. "(C) FORM FOR DISCONTINUATION. — A request under subparagraph (B) to discontinue participation in the Plan shall be in such form and shall contain such information as may be required under regulations prescribed by the Secretary of Defense. "(D) WITHDRAWAL OF REQUEST FOR DISCONTINUATION. — The Secretary concerned shall furnish promptly to each person who submits a request under subparagraph (B) to discontinue participation in the Plan a written statement of the advantages and disadvantages of participating in the Plan and the possible disadvantages of discontinuing participation. A person may withdraw the request to discontinue participation if withdrawn within 30 days after having been submitted to the Secretary concerned.

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