Page:United States Statutes at Large Volume 96 Part 1.djvu/836

 96 STAT. 794

PUBLIC LAW 97-253—SEPT. 8, 1982

be charged for a period of separation from the service which began before October 1, 1956. "(3) The rate of interest is 4 percent a year through December 31, 1947, and 3 percent a year beginning January 1, 1948, through December 31, 1984. Thereafter, the rate of interest for any calendar year shall be equal to the overall average yield to the Fund during the preceding calendar year from all obligations purchased by the Secretary of the Treasury during such calendar year under section 5 USC 8348. 8348 (c), (d), and (e) of this title, as determined by the Secretary.". (2) The second sentence of section 8343(a) of title 5, United States Code, is amended by inserting after "at 3 percent a year" the following: "through December 31, 1984, and thereafter at the rate Ante, p. 793. computed under section 8334(e) of this title,". (b) Section 8339(i) of title 5, United States Code, is amended to read as follows: "(i) For the purposes of subsections (a)-(h) and (n) of this section, the total service of any employee or Member shall not include any period of civilian service after July 31, 1920, for which retirement deductions or deposits have not been made under section 8334(a) of 5 USC 8334. this title unless— "(1) the employee or Member makes a deposit for such period as provided in section 8334(c) or (d) of this title; or "(2) no deposit is required for such service, as provided under section 8334(g) of this title or under any statute.". Lump-sum (c) Section 8342(a) of title 5, United States Code, is amended to credit. read as follows: "(a) An employee or Member who— "(I)(A) is separated from the service for at least thirty-one consecutive days; or "(B) is transferred to a position in which he is not subject to this subchapter and remains in such position for at least thirtyone consecutive days; "(2) files an application with the Office of Personnel Management for payment of the lump-sum credit; "(3) is not reemployed in a position in which he is subject to this subchapter at the time he files the application; and "(4) will not become eligible to receive an annuity within thirty-one days after filing the application, is entitled to be paid the lump-sum credit. The receipt of the payment of the lump-sum credit by the employee or Member voids all annuity rights under this subchapter based on the service on which the lump-sum credit is based, until the employee or Member is reemployed in the service subject to this subchapter.". 5 USC 8334 note. (d)(1) The amendments made by subsections (a) and (b) shall apply with respect to deposits for service performed on or after October 1, 1982, and with respect to refunds made on or after such date. The provisions of section 8334 and section 8339(i) of title 5, United States Code, as in effect the day before the date of the enactment of this Act, shall continue to apply with respect to periods of service and refunds occurring on or before September 30, 1982. Effective date. (2) The amendment made by subsection (c) shall take effect Octo5 USC 8342 note, b e r 1, 1982.

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