Page:United States Statutes at Large Volume 110 Part 3.djvu/831

 PUBLIC LAW 104-201—SEPT. 23, 1996 110 STAT. 2561 "(a) IN GENERAL. —Effective as of the first day after the death Effective date. of a person to whom section 1448 of this title appHes (or on such other day as that person may provide under subsection (j)), a monthly annuity under section 1451 of this title shall be paid to the person's beneficiaries under the Plan, as follows: "(1) SURVIVING SPOUSE OR FORMER SPOUSE.— The eligible surviving spouse or the eligible former spouse. "(2) SURVIVING CHILDREN. —The surviving dependent children in equal shares, if the eligible surviving spouse or the eligible former spouse is dead, dies, or otherwise becomes ineligible under this section. "(3) DEPENDENT CHILDREN. — The dependent children in equal shares if the person to whom section 1448 of this title applies (with the concurrence of the person's spouse, if required under section 1448(a)(3) of this title) elected to provide an annuity for dependent children but not for the spouse or former spouse. "(4) NATURAL PERSON DESIGNATED UNDER 'INSURABLE INTEREST' COVERAGE.— The natural person designated under section 1448(b)(1) of this title, unless the election to provide an annuity to the natural person has been changed as provided in subsection (f). "(b) TERMINATION OF ANNUITY FOR DEATH, REMARRIAGE BEFORE AGE 55, ETC. — "(1) GENERAL RULE.— An annuity payable to the beneficiary terminates effective as of the first day of the month in which eligibility is lost. "(2) TERMINATION OF SPOUSE ANNUITY UPON DEATH OR REMARRIAGE BEFORE AGE 55.— An annuity for a surviving spouse or former spouse shall be paid to the surviving spouse or former spouse while the surviving spouse or former spouse is living or, if the surviving spouse or former spouse remarries before reaching age 55, until the surviving spouse or former spouse remarries. "(3) EFFECT OF TERMINATION OF SUBSEQUENT MARRIAGE BEFORE AGE 55.—I f the surviving spouse or former spouse remarries before reaching age 55 and that marriage is terminated by death, annulment, or divorce, payment of the annuity shall be resumed effective as of the first day of the month in which the marriage is so terminated. However, if the surviving spouse or former spouse is also entitled to an annuity under the Plan based upon the marriage so terminated, the surviving spouse or former spouse may not receive both annuities but must elect which to receive. "(c) OFFSET FOR AMOUNT OF DEPENDENCY AND INDEMNITY COMPENSATION.— "(1) REQUIRED OFFSET.— If, upon the death of a person to whom section 1448 of this title applies, the surviving spouse or former spouse of that person is also entitled to dependency and indemnity compensation under section 1311(a) of title 38, the surviving spouse or former spouse may be paid an annuity under this section, but only in the amount that the annuity otherwise payable under this section would exceed that compensation. "(2) EFFECTIVE DATE OF OFFSET.—^A reduction in an annuity under this section required by paragraph (1) shall be effective
 * § 1450. Payment of annuity: beneficiaries

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