Page:United States Statutes at Large Volume 90 Part 1.djvu/887

 PUBLIC LAW 94-350—JULY 12, 1976 " (f) A participant or survivor may make a special contribution any time before receipt of annuity and may authorize payment by offset against initial annuity accruals.".

90 STAT. 837

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COMPUTATION OF A N N U I T I E S

SEC. 505. (a) The heading of part C of title VIII of such Act is amend to read "COMPUTATION AND P A Y M E N T OF A N N U I T I E S ".

(b) Subsection (a) of section 821 of such Act is amended (1) by 22 USC 1076. fj; striking out the phrase "for which full contributions have been made to the F u n d " each time it appears and by striking out the commas immediately preceding and following such phrase the first time it appears, (2) by striking out ", 852", and (3) by adding the following sentence a t the end thereof: " The annuity shall be reduced by 10 per centum of any special contribution described in section 811(d) due for ^^^«' P- ^36. service for which no contributions were made and remaining unpaid unless the participant elects to eliminate the service involved for purposes of annuity computation.". (c) Subsection (b) of section 821 of such Act is amended to read as follows: " (b)(1) Unless elected in writing to the contrary a t the time of retirement, any married participant shall receive a reduced annuity and provide a maximum survivor annuity for his or h e r spouse. Such a participant's annuity or any portion thereof designated in writing by the participant as the base for the survivor benefit shall be reduced by 21/^ per centum of the first $3,600 plus 10 per centum of any amount over $3,600. I f an annuitant entitled to receive a reduced annuity ^ under this subsection dies and is survived by a spouse, a survivor annuity shall be paid to the surviving spouse equal to 55 per centum of the full amount of the participant's annuity computed under subsection (a) of this section, o r by 55 per centum of any lesser amount the a n n u i t a n t designated at the time of retirement as the base for the survivor benefit. " (2) A n annuity payable from the F u n d to a surviving spouse shall commence on the d a y after the annuitant dies and shall terminate on the last day of the month before the survivor's (A) remarriage prior to attaining age sixty, or (B) death. I f a survivor annuity is terminated because of remarriage under clause (A) above, it shall be restored a t the same rate commencing on the date such remarriage is terminated = cr provided any lump sum paid upon termination of the annuity is returned to the Fund.". (d) Subsection (d) of section 821 of such Act is amended by adding the following sentence at the end thereof: " I f the annuity to a surviv;. <. > i n g child is initiated o r resumed, the annuities of any other children shall be recomputed and paid from that date as though the annuities to all currently eligible children in the family were then being initiated.". .;,.;.,,, (e) Subsection (e) of section 821 of such Act is amended to read as ' follows: " (e) The annuity payable to a child under subsection (c) or (d) of this section shall begin on the day after the participant dies or if the child is not then qualified, on the first day of the month in which the child becomes eligible. A child's annuity shall terminate on the %/«#' last d a y of the month which precedes the month in which eligibility ceases.". (f) Subsection (f) of section 821 of such Act is amended (1) by striking out "50" in the first sentence and inserting in lieu thereof "55", and (2) by striking out the last t w o sentences and inserting in lieu thereof the following: " The annuity payable to a beneficiary under

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