Page:United States Statutes at Large Volume 50 Part 1.djvu/337

 312 Proviso. Marital, etc ., pr o- visions. Death benefits. Pension or gratuity rolls of employers. Pen sions to i ndi- viduals on. 75TH CONGRESS, 1ST SESSION-CH. 382-JUNE 24, 1937 an annuit y after h is death to his sp ouse duri ng life e qual to, or 75 per centuin of, or 50 per centum of such reduced annuity. The amounts of the two annuities shall be such that their combined actuarial value as determined by the Board shall be the same as the actuarial value of the single-life annu ity to which the individual would otherwise, be entitled. Such election shall be irrevocable, except that it shall become inoperative if the individual or the spouse dies before th e annu ity be gins t o accr ue or if the indivi dual's marri age is dis- solved or if the individual shall be granted an annuity under sub- division 3 of sect ion 2 (a) : Provided, however, That the individual may, if his marriage is dissolved before the date his annuity begins to accrue, or if his annuity under subdivision 3 of section 2 (a) ceases because of failure to make the required proof of disability, make a new election under the conditions stated in the first sentence of this subsection. The annuity of a spouse under this subsection shall begin to accrue on the first day of the calendar month in which the death of the individual occurs. "DEATH BENEFITS "SEC. 5 . The follow ing be nefits shall be pa id with respe ct to the death of individuals who were employees after December 31, 1936 : "(a) If the deceased should not be survived by a widow or widower who is entitled to an annuity under an election made pursuant to the provisions of section 4, there shall be paid to such person or persons as the deceased may have designated by a writing filed with the Board prior to his death, or if there be no designation, to the legal representative of the deceased, the amount, if any, by which 4 per centum of the aggregate compensation earned by the deceased after December 31, 1936, exceeds the sum of the total of the annuity pay- ments actually made to the deceased plus the total of the annuity pay- ments due the deceased but not yet paid at death . If the person or persons designated to receive the death benefit do not survive the deceased, the death benefit shall be paid to the legal representative of the deceased . "(b) If the deceased should be survived by a widow or widower ent itled to an annuit y unde r an e lectio n made pursua nt to the pr ovi- sions of section 4, there shall, on the death of the widow or widower, be paid to such person or persons as the deceased may have desig- nated by a writing filed with the Board prior to his death, or if there be no designation, to the legal representative of the deceased, the amount, if any, by which 4 per centum of the aggregate com- pensation earned by the deceased after December 31, 1936, exceeds the sum of the total of the annuity payments actually made to the deceased plus the total of the annuity payments actually made to the widow or widower under an election made pursuant to the provi- sions of section 4 and under the provisions of section 3 (f) ., plus the total of the annuity payments due the widow or widower but not yet paid at death. If the person or persons designated to receive the death benefit do not survive the widow or widower, the death benefit sha ll be pai d to the legal rep resentati ve of the deceased. "In computing the aggregate compensation for the purpose of this section, no part of any month's earnings in excess of $300 shall be recognized. "PENSIONS TO INDIVIDUALS ON PENSION OR GRATUITY ROLLS OF EMPLOYERS "SEC . 6 . (a) Beginning July 1, 1937, each individual then on the pension or gratuity roll of an employer by reason of his employment, who was on such roll on March 1, 1937, shall be paid on July 1, 1937,