Page:United States Statutes at Large Volume 46 Part 1.djvu/1521

 1478 S EVE NTY -FIR ST CONGRESS. SEss. III. Cu. 375. 1931 . of such employee to be maintained by the Panama Canal, and the amounts deducted and withheld from the basic salary, pay, or The less $I pOrmmonth af ter, compensation of each employee for credit to the Canal Zone retirement and disability fund, covering service from and after the effective date of this Act a less the sum of $1 per month or major f raction ther eof, shall si milarly be cr edited to su ch individual account. Return of dedue- (b) In the case of any employee to whom this Act applies who d ons on transfer to position not included in s hall be tran sferred to a position not within the p urview of the Act. Act, or who shall become absolutely separated from the service before becoming eligible for retirement on annuity, the amount credited to his individual account shall be returned to such employee together with interest at 4 per centum per annum compounded on I nvDS8 nvolu ntary separa- June 30 of each y ear : Provided, That when an employee becomes Lion. involuntarily separated from the service, not by removal for cause o n charges of misconduct o r delinquency, the total amount of his d eductions wi th interest t hereon shall be paid to s uch employee instatement, eiupon re' And provided further, That all moneys so returned to an employee must, upon reinstatement, retransfer, or reappointment to a position coming within the purview of this Act, be redeposited with interest before such employee may derive any benefits under this Act, except as provided in this section, but interest shall not be required covering any period of separation from the service. deceasedAmount credited annuitant ' s to (c) In case an annuitant shall die without having received in account to be paid to annuities purchased by the employee's contributions as provided in his representative. (2) of section 6 hereof an amount equal to the total amount to his c redit at ti me of retir ement, the a mount remai ning to his cred it sha ll be paid in one sum to his legal representatives upon the establish- ment of a valid claim therefor, unless the annuitant shall have elected to receive an increased annuity as provided in section 6 hereof. If deceased employee ineligible for retire- (d) In c ase an empl oyee sha ll die with out hav ing atta ined eli gi- ment. bility for retirement or without having established a valid claim for an nuity, the total amoun t of h is de ductio ns wi th int erest there on sha ll be p aid to the legal representatives of such employee. Payme nt to g uard- ian, etc. (e) In case a former employee entitled to the return of the amount credited to his individual account shall become legally incompetent, the total amount due may be p aid to a dul y appointed g uardian or co mmittee of su ch employee. ofifno amounts net guardian, c exceed- (f) If the amount of accrued annuity or of refund due a former ing $1,000. employee who is legally incompetent does not exceed $1,000, and if there has been no demand upon the Commissioner of Pensions by a duly appointed executor, administrator, guardian, or committee, pay- ment may be made, after the expiration of thirty days from date of death or of separation from the service, as the case may be, to such mei~al effect of pay- person or persons as may appear in the judgment of the Commis- sioner of Pensions to be legally entitled thereto, and such payment shall be a bar to recovery by any other person. Payment of annul- ties. Monthly, by check. PAYM ENT OF ANNi1I1 ii S SEC. 12. Annuities granted under the terms of this Act shall be due and payable in monthly installments on the first business day of the month following the month or other period for which the annuity shall have accrued ; and payment of all annuities, refunds, and allow- anc es granted he reunder shall be made by checks drawn and issued by the disbursing clerk for the payment of pensions in such form and manner and with such safeguards as shall be prescribed by the Administrator of Veterans' Affairs in accordance with the laws, rules, and regulations governing accounting that may be found appli- cable to such payments.

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