Page:United States Statutes at Large Volume 70.djvu/809

 70 S T A T. ]

PUBLIC LiAW 854-JULY 31, 1956

753

•'(4) 1% per centum of such average salary multiplied by so much of his total service, other than service used in computing annuity under clauses (1) and (2), as exceeds five years but does not exceed ten years, performed prior to his separation from service as a Member, and other than any such service which he may elect to exclude; and " (6) 2 per centum of such average salary multiplied by so much of his total service, other than service used in computing annuity under clauses (1) and (2), as exceeds ten years, performed prior to his separation from service as a Member, and other than any such service which he may elect to exclude. I n no case shall an annuity computed under this subsection exceed 80 Llmitationa. per centum of the basic salary that he is receiving at the time of such separation from the service, and in no case shall the annuity of a I^^mber retiring under section 7 be less than (A) 40 per centum of the average salary or (B) the sum obtained under this subsection after increasing his Member service by the period elapsing between the date of separation and the date he attains the age of sixty years, whichever is the lesser, but this provision shall not increase the annuity of any survivor. " (d) The annuity as hereinbefore provided, for an employee retiring under section 6(b) or 6 (d) or a Member retiring under the second or third sentence of section 6(f), shall be reduced by one-twelfth of 1 per centum for each full month not in excess of sixty, and onesixth of 1 per centum for each full month in excess of sixty, such employee or Member is under the age of sixty years at date of separation. "(e) The annuity of an employee retiring under section 6(c) shall be 2 per centum of the average salary multiplied by the total service: Provided, That the annuity shall not exceed 80 per centum of the average salary. Redu " (f) The annuity as hereinbefore provided shall be reduced by ]0 t i e s. c ed annuiper centum of any deposit described in section 4(c) remaining unpaid, Ante, p. 748. unless the employee or Member shall elect to eliminate the service involved for purposes of annuity computation. " (g) Any employee or Member retiring under section 6, 7, or 8 may at the time of retirement elect a reduced annuity, in lieu of the annuity as hereinbefore provided, and designate in writing his wife or husband to receive an annuity after the retired individual's death computed as provided in section 10(a)(1). The annuity of the employee or Member making such election, excluding any increase because of retirement under section 7, shall be reduced by 2i/^ per centum of so much of the portion thereof designated under section 10(a)(1) as does not exceed $2,400 and by 10 per centum of so much of the portion so designated as exceeds $2,400. " (h) Any unmarried employee or Member retiring under section 6 or 8, and found by the Commission to be in good health, may at the time of retirement elect a reduced annuity, in lieu of the annuity as hereinbefore provided, and designate in writing a person having an insurable interest in the employee or Member to receive an annuity after the retired individual's death. The annuity payable to the employee or Member making such election shall be reduced by 10 per centum of an annuity computed as provided in section 9 and by 5 per centum of an annuity so computed for each full five years the person designated is younger than the retiring employee or Member, but such total reduction shall not exceed 40 per centum. A a an " (i) The annuity as hereinbefore provided, for an employee who is C a nl a ls k Zone and etna citizen of the United States, shall be increased by $36 multiplied pioyeVs. by total service in the employ of either the Alaska Engineering Com69225 O - 5 7 - 5 2 ( V o l. 70)

�