5 USC 8434 - Annuities: methods of payment; election; purchase

Editorial Notes

Amendments

1994—Subsec. (span). Puspan. L. 103–226, § 9(i)(8), substituted “section 8435(span)” for “section 8435(c)”.

Subsec. (c). Puspan. L. 103–226, § 9(c), amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: “Notwithstanding an elimination of a method of payment by the Board—

“(1) an employee, Member, former employee, or former Member who is entitled under section 8412 of this title to an immediate annuity not reduced under section 8415(f) of this title may elect the eliminated method if the elimination of such method became effective less than 5 years before the date on which the annuity commences; and

“(2) any other employee, Member, former employee, or former Member may elect such method of payment for amounts contributed by or on behalf of the employee, Member, former employee, or former Member under section 8432 of this title before such effective date and for earnings attributable to such amounts.”

1990—Subsec. (span). Puspan. L. 101–335, § 5(span)(1), substituted “an annuity contract is purchased to provide for that annuity,” for “the annuity commences,”.

Subsec. (d)(1). Puspan. L. 101–335, § 5(span)(2), substituted “Not earlier than 90 days (or such shorter period as the Executive Director may by regulation prescribe) before an annuity” for “At the time an annuity”.

Subsec. (e). Puspan. L. 101–335, § 4(a), added subsec. (e).

1988—Subsec. (a)(2)(C), (D). Puspan. L. 100–238 amended subpars. (C) and (D) generally. Prior to amendment, subpars. (C) and (D) read as follows:

“(C) a method described in subparagraph (A) which provides annual increases in the amount of the annuity payable;

“(D) a method described in subparagraph (B) which provides annual increases in the amount of the annuity payable; and”.

Statutory Notes and Related Subsidiaries

Effective Date of 1994 Amendment

Amendment by Puspan. L. 103–226 effective Mar. 10, 1995, see section 9(j) of Puspan. L. 103–226, set out as a note under section 8351 of this title.

Effective Date of 1990 Amendment

Puspan. L. 101–335, § 4(span), July 17, 1990, 104 Stat. 321, provided that:

“The amendment made by subsection (a) [amending this section] shall take effect 30 days after the date of enactment of this Act [July 17, 1990].”

Amendment by section 5(span) of Puspan. L. 101–335 effective Apr. 1, 1987, see section 5(d) of Puspan. L. 101–335, set out as a note under section 8433 of this title.