Page:United States Statutes at Large Volume 60 Part 1.djvu/878

 Dw OTAT.J 7TH UONU., 2D SESS.-CH. 753-AUG. 2, 1946 851 with interest computed at the rate of 4 per centum per annum com- pounded on December 31 of each year; and the amount to be deducted and withheld from the basic salary, pay, or compensation of each such Member of Congress for the purposes of section 10 46Stat.475. shall be a sum equal to 6 per centum of such basic salary, pay, or 721, 722;. u .5p V compensation. 719. "(3) No person shall be entitled to receive an annuity as pro- Yersofservice; age. vided in this section until he shall have become separated from the service after having had at least six years of service as a Member of Congress and have attained the age of sixty-two years, except Disability. that any such Member who shall have had at least five years of service as a Member of Congress, may, subject to the provisions of section 6 and of paragraph (4) of this section, be retired for 46Stat.472. disability, irrespective of age, and be paid an annuity computed in 7145; upp. V, i§ 713 accordance with paragraph (5) of this section. 714. "(4) No Member of Congress shall be entitled to receive an annuity Deductionsfrom under this Act unless there shall have been deducted and withheld salar, etc- from his basic salary, pay, or compensation for the last five years of his service as a Member of Congress, or there shall have been deposited under section 9 with respect to such last five years of service, the 46 Stat. 475. amounts specified in paragraph (2) of this section with respect to so suppv. 7, 736b; much of such five years of service as was performed after the date of enactment of the Legislative Reorganization Act of 1946 and the amounts specified in section 9 with respect to so much of such five years of service as was performed prior to such date. "(5) Subject to the provisions of section 9 and of subsections (c) SA"ntofanity. and (d) of section 4, the annuity of a Member of Congress shall be an 53 Stat. 120 1 . amount equal to 21/2 per centum of his average annual basic salary, (.U. S . C. I 69 (c) pay, or compensation as a Member of Congress multiplied by his years of service as a Member of Congress, but no such annuity shall exceed an amount equal to three-fourths of the salary, pay, or compensation that he is receiving at the time he becomes separated from the service. "(6) In the case of a Member of Congress who becomes separated Refunds. from the service before he completes an aggregate of six years of service as a Member of Congress, and who is not retired for disability, the total amount deducted from his basic salary, pay, or compensa- tion as a Member of Congress, together with interest at 4 per centum compounded as of December 31 of each year shall be returned to such Member of Congress. No such Member of Congress shall thereafter become eligible to receive an annuity as provided in this section unless the amounts so returned are redeposited with interest at 4 per centurn compounded on December 31 of each year, but interest shall not be required covering any period of separation from the service. "(7) If any person takes office as a Member of Congress while Annuitant taking receiving an annuity as provided in this section, the payment of such ofic Member of annuity shall be suspended during the period for which he holds such office; but, if he gives notice as provided in paragraph (2) of this sec- tion, his service as a Member of Congress during such period shall be credited in determining the amount of his subsequent annuity. "(8) Nothing contained in this Act shall be construed to prevent any person eligible therefor from simultaneously receiving an annuity computed in accordance with this section and an annuity computed in accordance with section 4, but in computing the annuity under sec- 46 Stt. 471. tion 4 in the case of any person who (A) has had at least six years' 5U6.C.i§egs, service as a Member of Congress, and (B) has served as a Member 06S. of Congress at any time after the date of enactment of the Legislative Reorganization Act of 1946, service as a Member of Congress shall not be credited. 1rs am_. _^___ ^ ___

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