
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 5USC8343]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
                         CHAPTER 83--RETIREMENT
 
                SUBCHAPTER III--CIVIL SERVICE RETIREMENT
 
Sec. 8343. Additional annuities; voluntary contributions

    (a) Under regulations prescribed by the Office of Personnel 
Management, an employee or Member may voluntarily contribute additional 
sums in multiples of $25, but the total may not exceed 10 percent of his 
basic pay for creditable service after July 31, 1920. The voluntary 
contribution account in each case is the sum of unrefunded 
contributions, plus interest at 3 percent a year through December 31, 
1984, and thereafter at the rate computed under section 8334(e) of this 
title, compounded annually to--
        (1) the date of payment under subsection (d) of this section, 
    separation, or transfer to a position in which he does not continue 
    subject to this subchapter, whichever is earliest; or
        (2) the commencing date fixed for a deferred annuity or date of 
    death, whichever is earlier, in the case of an individual who is 
    separated with title to deferred annuity and does not claim the 
    voluntary contribution account.

    (b) The voluntary contribution account is used to purchase at 
retirement an annuity in addition to the annuity otherwise provided. For 
each $100 in the voluntary contribution account, the additional annuity 
consists of $7, increased by 20 cents for each full year, if any, the 
employee or Member is over 55 years of age at the date of retirement.
    (c) A retiring employee or Member may elect a reduced additional 
annuity instead of the additional annuity described by subsection (b) of 
this section and designate in writing an individual to receive after his 
death an annuity of 50 percent of his reduced additional annuity. The 
additional annuity of the employee or Member making the election is 
reduced by 10 percent, and by 5 percent for each full 5 years the 
individual designated is younger than the retiring employee or Member. 
However, the total reduction may not exceed 40 percent.
    (d) A present or former employee or Member is entitled to be paid 
the voluntary contribution account if he files application for payment 
with the Office before receiving an additional annuity. An individual 
who has been paid the voluntary contribution account may not again 
deposit additional sums under this section until, after a separation 
from the service of more than 3 calendar days, he again becomes subject 
to this subchapter.
    (e) If a present or former employee or Member not retired dies, the 
voluntary contribution account is paid under section 8342(c) of this 
title. If all additional annuities or any right thereto based on the 
voluntary contribution account of a deceased employee or Member 
terminate before the total additional annuity paid equals the account, 
the difference is paid under section 8342(c) of this title.

(Pub. L. 89-554, Sept. 6, 1966, 80 Stat. 580; Pub. L. 90-83, Sec. 1(82), 
Sept. 11, 1967, 81 Stat. 217; Pub. L. 95-454, title IX, Sec. 906(a)(2), 
(3), Oct. 13, 1978, 92 Stat. 1224; Pub. L. 97-253, title III, 
Sec. 303(a)(2), Sept. 8, 1982, 96 Stat. 794.)

                      Historical and Revision Notes
                                1966 Act
------------------------------------------------------------------------
                                                    Revised Statutes and
     Derivation                U.S. Code             Statutes at Large
------------------------------------------------------------------------
                     5 U.S.C. 2262.                July 31, 1956, ch.
                                                    804, Sec.  401
                                                    ``Sec. 12'', 70
                                                    Stat. 756.
                     ............................  Aug. 14, 1958, Pub.
                                                    L. 85-661, Sec.  1,
                                                    72 Stat. 614.
------------------------------------------------------------------------

    In subsection (a), the words ``after July 31, 1920'' are substituted 
for ``on or after August 1, 1920''. In paragraph (1), the words 
``payment under subsection (d) of this section'' are based on ``but such 
account shall not in any case include interest beyond date of payment'' 
in former section 2262(d); the latter, accordingly, are omitted from 
subsection (d).
    Standard changes are made to conform with the definitions applicable 
and the style of this title as outlined in the preface to the report.

                            1967 Act

    This section amends 5 U.S.C. 8343(a)(1) for consistency within the 
subchapter and to reflect that it is the individual, rather than the 
position, that is subject to the subchapter.


                               Amendments

    1982--Subsec. (a). Pub. L. 97-253 inserted ``through December 31, 
1984, and thereafter at the rate computed under section 8334(e) of this 
title,''.
    1978--Subsecs. (a), (d). Pub. L. 95-454 substituted ``Office of 
Personnel Management'' for ``Civil Service Commission'' and ``Office'' 
for ``Commission''.


                    Effective Date of 1982 Amendment

    Amendment by Pub. L. 97-253 effective with respect to deposits for 
service performed, on or after Oct. 1, 1982, and with respect to refunds 
for which application is received by Office of Personnel Management on 
or after Oct. 1, 1982, see section 303(d)(1) of Pub. L. 97-253, as 
amended by Pub. L. 97-346, Sec. 3(j)(1), Oct. 15, 1982, 96 Stat. 1649, 
set out as a note under section 8334 of this title.


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-454 effective 90 days after Oct. 13, 1978, 
see section 907 of Pub. L. 95-454, set out as a note under section 1101 
of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 8342 of this title; title 10 
section 942.
