Page:United States Statutes at Large Volume 56 Part 1.djvu/755

 56 STAT.] 77TH CONG. , 2D SESS.-CH. 336 -JULY 29, 1942 service, notwithstanding any provision of law or regulation to the contrary: Provided, That the President may, by Executive order, Protisos. exempt from the provisions of this paragraph any person when, in his judgment, the public interest so requires: Provided further, That aonuitaent ° no person separated from the service who is receiving an annuity under the provisions of this section or section 93 of this title shall be eligible again to appointment to any appointive office, position, or employment to which this article applies, or under the United States or of the government of the District of Columbia unless the appoint- ing authority determines that he is possessed of special qualifications, in which event payment of his annuity shall be terminated during the period of his appointment; and any such person whose annuity Subsequent annuity is terminated, shall, upon the termination of his appointment, have his subsequent annuity rights determined under the provisions of this article in effect at the time of such termination: Provided further, Exception. That this paragraph shall not apply to any person named in any Act of Congress providing for the continuance of such person in the service." SEC. 2 . That section 95 of title 2, Canal Zone Code, is'hereby repealed, and in lieu thereof the following is substituted: "SEC. 95. ANNUITY ON SEPARATION FROM SERVICE BEFORE BECOMING Deferred annuity at ELIGIBLE FOR RETIREMENT.- (a) Should any employee to whom this article applies, after having served for a total period of not less than five years and before becoming eligible for retirement become sepa- rated from the service, such employee shall be paid a deferred annuity beginning at the age of sixty-two years, computed as provided in the first paragraph of section 96 of this title: Provided, That any P os. such person involuntarily separated from the service not by removal ate annuity. for cause on charges of misconduct or delinquency may elect to receive an immediate annuity beginning at the age of fifty-five or at the date of separation from the service if subsequent to that age having a value equal to the present worth of a deferred annuity beginning at the age of sixty-two years, or at age of separation if subsequent to age sixty-two, computed as provided in section 96 of this title: Provided further, That nothing in this article shall be so Refunds construed as to prohibit the refund of deductions, deposits, or rede- posits made prior to the effective date of this Act with interest thereon, or of any voluntary contributions made under the provisions of section 99 of this title, as amended, with interest: And provided further, That 1 Redeposit o r eo all moneys, except voluntary contributions, so refunded an employee must be redeposited with interest before such employee may derive any annuity benefits based on the service covered by the refund. "(b) Should an annuitant under the provisions of this section be mEfC of reemploy reemployed in a position included in the provisions of this article, the e annuity and any right to an immediate or deferred annuity as pro- vided herein shall cease as of the date of such employment. If such annuitant is reemployed in any position in the service of the United States or the District of Columbia, not within the provisions of this article, annuity payments shall be discontinued during the period of such employment, and resumed in the same amount upon termination of such employment. "(c) Interest shall be allowed on the amount credited to such Itert separated employee's individual account in the retirement fund at 3 per centum compounded on June 30 of each year until the beginning date of annuity." SEC. 3 . That the second paragraph of section 96 of title 2, Canal Mini m m annity Zone Code, is amended by striking out the colon after the words "in computing the annuity under paragraph (3) hereof, and divided by 727

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