Collapse to view only § 2095. Recovery of payments
- § 2091. Estimate of appropriations needed
- § 2092. Investment of moneys in fund
- § 2093. Payment of benefits
- § 2094. Attachment of moneys
- § 2095. Recovery of payments
§ 2091. Estimate of appropriations needed
(a) Estimates of annual appropriations
(b) Actuarial valuations
(c) Changes in law affecting actuarial status of fund
Any statute which authorizes—
(1) new or increased benefits payable from the fund under this subchapter, including annuity increases other than under section 2131 of this title;
(2) extension of the coverage of this subchapter to new groups of employees; or
(3) increases in pay on which benefits are computed;
is deemed to authorize appropriations to the fund in order to provide funding for the unfunded liability created by that statute, in 30 equal annual installments with interest computed at the rate used in the then most recent valuation of the system and with the first payment thereof due as of the end of the fiscal year in which such new or liberalized benefit, extension of coverage, or increase in pay is effective.
(d) Authorization
(e) Unfunded liability; credit allowed for military service
There is hereby authorized to be appropriated to the fund for each fiscal year such sums as may be necessary to provide the amount equivalent to—
(1) interest on the unfunded liability computed for that year at the interest rate used in the then most recent valuation of the system; and
(2) that portion of disbursement for annuities for that year that the Director estimates is attributable to credit allowed for military service,
less an amount determined by the Director to be appropriate to reflect the value of the deposits made to the credit of the fund under section 2082(h) of this title.
(Pub. L. 88–643, title II, § 261, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3234.)
§ 2092. Investment of moneys in fund
The Director may, with the approval of the Secretary of the Treasury, invest from time to time in interest-bearing securities of the United States such portions of the fund as in the Director’s judgment may not be immediately required for the payment of annuities, cash benefits, refunds, and allowances from the fund. The income derived from such investments shall be credited to and constitute a part of the fund.
(Pub. L. 88–643, title II, § 262, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3235.)
§ 2093. Payment of benefits
(a) Annuities stated as annual amounts
(b) Commencement of annuity
(1) Commencement of annuity for participants generally
(2) Exceptions
The annuity of—
(A) a participant involuntarily separated from the Agency;
(B) a participant retiring under section 2051 of this title due to a disability; and
(C) a participant who serves 3 days or less in the month of retirement;
shall commence on the day after separation from the Agency or the day after pay ceases and the service and age or disability requirements for title to annuity are met.
(3) Other annuities
(c) Termination of annuity
An annuity payable from the fund shall terminate—
(1) in the case of a retired participant, on the day death or any other terminating event provided by this subchapter occurs; or
(2) in the case of a former spouse or a survivor, on the last day of the month before death or any other terminating event occurs.
(d) Application for survivor annuities
(e) Waiver of annuity
(f) Limitations
(1) Application before 115th anniversary
(2) Application within 30 years
(g) Withholding of State income tax from annuities
(1) Agreements with States
(2) Limitation on multiple requests
(3) Change in State designation
(4) General provisions
(5) “State” defined
(Pub. L. 88–643, title II, § 263, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3235; amended Pub. L. 118–31, div. G, title IX, § 7901(d)(2), Dec. 22, 2023, 137 Stat. 1106.)
§ 2094. Attachment of moneys
(a) Exemption from legal process
(b) Payment to former spouses under court order or spousal agreement
In the case of any participant, former participant, or retired participant who has a former spouse who is covered by a court order or who is a party to a spousal agreement—
(1) any right of the former spouse to any annuity under section 2032(a) of this title in connection with any retirement or disability annuity of the participant, and the amount of any such annuity;
(2) any right of the former spouse of a participant or retired participant to a survivor annuity under section 2032(b) or 2032(c) of this title, and the amount of any such annuity; and
(3) any right of the former spouse of a former participant to any payment of a lump-sum credit under section 2071(b) of this title, and the amount of any such payment;
shall be determined in accordance with that spousal agreement or court order, if and to the extent expressly provided for in the terms of the spousal agreement or court order that are not inconsistent with the requirements of this subchapter.
(c) Other payments under court orders
(d) Prospective payments; bar to recovery
(1) Subsections (b) and (c) apply only to payments made under this subchapter for periods beginning after the date of receipt by the Director of written notice of such decree, order, or agreement and such additional information and documentation as the Director may require.
(2) Any payment under subsection (b) or (c) to an individual bars recovery by any other individual.
(e) Allotments
(Pub. L. 88–643, title II, § 264, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3237; amended Pub. L. 103–178, title II, § 202(a)(12), Dec. 3, 1993, 107 Stat. 2027.)
§ 2095. Recovery of payments
Recovery of payments under this subchapter may not be made from an individual when, in the judgment of the Director, the individual is without fault and recovery would be against equity and good conscience. Withholding or recovery of money payable pursuant to this subchapter on account of a certification or payment made by a former employee of the Agency in the discharge of the former employee’s official duties may be made if the Director certifies that the certification or payment involved fraud on the part of the former employee.
(Pub. L. 88–643, title II, § 265, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3237; amended Pub. L. 103–178, title II, § 202(a)(13), Dec. 3, 1993, 107 Stat. 2027.)