Page:United States Statutes at Large Volume 84 Part 1.djvu/1197

 84 STAT. ]

PUBLIC LAW 91-509-OCT. 26, 1970

1139

his death. Such student-child whose birthday falls during the school year (September 1 to June 30) shall be considered not to have reached age twenty-two until July 1 following his actual twenty-second birthday. " (6) Any member retiring under subsection (f), (g), or (h) of this Reduced annuity, section, may, at the time of such retirement, elect to receive a reduced ^^7i's°at. 394; annuity in lieu of full annuity, and designate in writing the person to Ante^p.^1137' receive an increased annuity after the retired annuitant's death: Pro- to D.C. Code 4- 26 4-528. vided, That the person so designated be the surviving spouse or child of the retiring member. Whenever such an election is made, the annuity of the designee shall be increased by an amount equal to the amount by which the annuity of such retiring member is reduced. The annuity payable to the member making such election shall be reduced by 10 per centum of the annuity computed as provided in subsection (f), (g), or (h). Such increase in annuity payable to the designee shall be reduced by 5 per centum for each full five years the designee is younger than the retiring member, but such total reduction shall not exceed 40 per centum. The increase in annuity payable to the designee pursuant to this paragraph shall be paid in addition to the annuity provided for such designee pursuant to paragraph (2) or (3) of this subsection and shall be subject to the same limitations as to duration and other conditions as the annuity paid pursuant to paragraphs (2), (3), and (5) of this subsection. If, at any time after such former member's retirement, the designee dies, and is survived by such former member, the annuity payable to such former member shall be increased to the amount computed as provided in subsection (f), (g), o r (h). "(7)(i) Each month after the effective date of this subsection the c rAnnuity inease. Commissioner shall determine the per centum change in the price index. On the basis of this determination, and effective the first day of the third month which begins after the price index shall have equaled the rise of at least 3 per centum for three consecutive months over the price index for the base month, each annuity payable under this subsection which has a commencing date not later than such effective date shall be increased by 1 per centum plus the per centum rise in the price index (calculated on the highest level of the price index during the three consecutive months) adjusted to the nearest one-tenth of 1 per centum. "(ii) The monthly installment of annuity after adjustment under this subsection shall be fixed at the nearest dollar, except that such installment shall after adjustment reflect an increase of at least $1. ' P r i c e index. "(iii) For purposes of this subsection, the term 'price index' shall mean the Consumer Price Index (all items—United States city average) published monthly by the Bureau of Labor Statistics. The term " B a s e month. " 'base month' shall mean the month for which the price index showed a per centum rise, forming the basis for a cost-of-living annuity increase." SEC. 2. The provisions of this Act shall take effect on the first day Effective date. of the first pay period which begins on or after the date of enactment. SEC, 3. This Act may be cited as the "Policemen and Firemen's Short title. Eetirement and Disability Act Amendments of 1970". Approved October 26, 1970.

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