Page:United States Statutes at Large Volume 50 Part 1.djvu/335

 310 75Ta CONGRESS, 1ST SESSION-CH. 382-JUNE 24, 1937 he so recovers and if after such recovery the individual is granted an annuity under subdivision I or 2 (a) of this subsection, the amount of such annuity shall be reduced on an actuarial basis to be determined by the Board so as to compensate for the annuity pre- viously received under this subdivision. Payment conditional "(b) An annuity shall be paid only if the applicant shall have upon reemployment . relinquished such rights as he may have to return to the service of an employer and of the person by whom he was last employed ; but this requirement shall not apply to the individuals mentioned in sub- division 2 (b) and subdivision 3 of subsection (a) prior to attaining age sixty-five. Accrual of annuity . a (c) An annuity shall begin to accrue as of a date to be specified in a written application (to be made in such manner and form as may be prescribed by the Board and to be signed by the individual en tit led the ret o), bu t-- "(1) not before the date following the last day of compensated service of the applicant, and "(2) not more than sixty days before the filing of the application. Payment in any month in which com- "(d) No annuity shall be paid with respect to any month in which ted service ren- dered. a n individual in receipt of an annuity hereunder shall render com- pensa ted servic e to an em ployer or t o the last person by whom he w as employed prior to the date on which the annuity began to accrue. Report thereof. Individuals receiving annuities shall report to the Board immediately all such compensated service. "COMPUTATION OF ANNUITIES "SEC. 3 . (a) The annuity shall be computed by multiplying an individual's years of service' by the following percentages of his , monthly compensation' : 2 per centum of the first $50 ; 11/ 2 per centum of the next $100 ; and 1 per centum of the next $150. ' (b) The years of service' of an individual shall be determined as follows "(1) In the case of an individual who was an employee on th e enactment date, t he years of service shall include all h is service subsequent to December 31, 1936, and if the total number of such years is less than thirty, then the years of service shall also include his s ervice prior to Jan uary 1, 1937, but n ot so as to make his total years of service exceed thirty : Provided, however, That with respect to any such individual who rendered service to any employer after January 1, 1937, and who on the enactment date was not an employee of an employer conducting the principal part of its busi ness in the United St ates no gr eater prop ortion of his servic e ren dered prio r to Janua ry 1, 1937, shall be included i n his yea rs of service' than the proportion which his total compensation (including compensation in any month in excess of $300) for service after January 1, 1937, rendered anywhere to an employer cond ucting the principal part of it s business in the Un ited State s or rendered in the United States to any other employer bears to his total compensation (including compensation in any month in excess of $300) for service rendered anywhere to an employer after Janu- ary 1, 1937. "(2) In all other cases, the years of service shall include only the service subsequent to December 31, 1936 . "(3) Where the years of service include only part of the service prior to January 1, 1937, the part included shall be taken in reverse order beginning with the l ast calend ar month of such serv ice. Computation of an- nuities. Det ermi nat ion of "years of service ". Proviso. where principal part of business was outside United States. Where principal part of business was within.