Page:United States Statutes at Large Volume 90 Part 2.djvu/1144

 90 STAT. 2612

PUBLIC LAW 94-554—OCT. 19, 1976

annuity fund established by section 2 of the Act of August 3, 1956 (70 28 USC 376. Stat. 1021), as amended, before the date upon which this Act becomes effective. 28 USC 376 note. SEC. 7. That, at any time within one hundred and eighty days after the date upon which this Act becomes effective, any judicial official who has, prior to that date, already participated in the judicial survivors annuity program created by the Act of August 3, 1956 (70 Stat. 1021), as amended, shall be entitled to revoke his or her earlier election to participate in that program and thereby completely withdraw from participation in the judicial survivors' annuities program created by this Act: Provided, That (a) any such revocation may be effected only by means of a writing filed with the Director of the Administrative Office of the United States Courts, (b) any such writing shall be deemed to have become effective no sooner than the date upon which that writing is received by the Director, (c) upon receipt of such a writing by the Director, any and all rights to survivorship benefits for such judicial official's survivors shall terminate, and all amounts credited to such judicial official's individual account, together with interest at 3 percent per annum, compounded on December 31 of each year to that date of revocation, shall thereafter be returned to that judicial official in a lump-sum refund payment, and (d) any judicial official who effects such a revocation and who subsequently again becomes eligible and elects to join the judicial survivors annuities program created by this Act under the provisions of section 376 of title 28, United States Code, as amended by this Act, shall be permitted to do so only upon the redeposit of the full amount of the refund obtained under this section plus interest at 3 percent per annum, compounded on December 31 of each year from the date of the revocation until the date upon which that amount is redeposited. Any judicial official who fails to effect a revocation in accordance with the right conferred by this section within one hundred and eighty days after the date upon which this Act becomes effective shall be deemed to have irrevocably waived the right to that revocation. Effective date. SEC. 8. That this Act shall become effective on the first day of the 28 USC 376 note, third month following the month in which it is enacted, or on October 1, 1976, whichever occurs last. Approved October 19, 1976.

LEGISLATIVE HISTORY: HOUSE REPORT No. 94-1604 (Comm. on the Judiciary). SENATE REPORT No. 94-799 (Comm. on the Judiciary). CONGRESSIONAL RECORD, Vol. 122 (1976): June 22, considered and passed Senate. Sept. 29, considered and passed House, amended. Oct. 1, Senate concurred m House amendments.

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