Page:United States Statutes at Large Volume 66.djvu/64

 18

PUBLIC LAW 274-MAR. 6, 1952

D. C. Code 31729. Post,

p. 19.

61 Stat. 248; 65 Stat. 636.

Options. Ante. p. 17.

[66 S T A T,

service in the public schools of the District of Columbia, at the option of the teacher, multiplied by the years of service: Provided, That with the exception of the computation of deferred annuities provided in section 9 of this Act no annual salary used in the computation of the average annual salary received during any five consecutive years of allowable service shall be less than the maximum salary for class 1, group A (established by the District of Columbia Teachers" Salary Act of 1947, as amended), as it was in the year the salary was received, or $4,330, whichever is greater. Annuities granted under the terms of this Act shall accrue monthly and shall be due and payable in monthly installments at the beginning of the month following the month for which the annuity shall have accrued, such monthly installments being computed to the nearest dollar. Annuities payable to any retired teacher who has become eligible for retirement because of age as defined in section 3 of this Act shall be payable during the lifetime of the amiuitant. Annuities payable to any teacher retired on account of disability shall be subject to the conditions set forth under section 4 of this Act. " (b) Any teacher retiring under the provisions of section 3 or section 4 of this Act may, at the time of retirement, elect to receive in lieu of the life annuity described herein one of the following: "(1) A reduced annuity and an annuity after death payable to his or her surviving widow or widower designated by such teacher at time of retirement equal to 50 per centum of such life annuity. The life annuity of the teacher making such election shall be reduced by 5 per centum of so much thereof as does not exceed $1,500, plus 10 per centum of the balance of such life annuity, and shall be further reduced by three-fourths of 1 per centum of such life annuity for each full year, if any, the designated wife or husband is under age of sixty at time of retirement, but the total reduction shall in no case be more than 25 per centum of such life annuity. The annuity of such widow or widower shall begin on the first day of the month immediately following the month in which the death of the retired teacher occurs or the first day of the month following the widow's or widower's attainment of age fifty, whichever is the later, and such annuity or any right thereto shall terminate upon his or her death or remarriage. "(2) If unmarried and in good health, a reduced annuity payable to him during his life, and an annuity after his death payable to a survivor annuitant having an insurable interest in such teacher, duly designated in writing and filed with the Auditor of the District of Columbia at the time of retirement, during the life of such survivor annuitant equal to 50 per centum of such reduced annuity and upon the death of such survivor annuitant all payments shall cease and no further annuity shall be due and payable. The annuity hereunder payable to the teacher shall be 90 per centum of the life annuity otherwise payable if the survivor annuitant is the same age or older than the annuitant, or is less than five years younger than the annuitant; 85 per centum if the survivor annuitant is five but less than ten years younger; 80 per centum if the survivor annuitant is ten but less than fifteen years younger; 75 per centum if the survivor annuitant is fifteen but less than twenty years younger; 70 per centum if the survivor annuitant is twenty but less than twenty-five years younger; and 60 per centum if the survivor annuitant is twenty-five or more years younger. No such election shall be valid until the retiring teacher shall have satisfactorily passed a physical examination under the direction of the Health Officer of the District of

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