
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 5USC8420a]

 
             TITLE 5--GOVERNMENT ORGANIZATION AND EMPLOYEES
 
                           PART III--EMPLOYEES
 
                   Subpart G--Insurance and Annuities
 
            CHAPTER 84--FEDERAL EMPLOYEES' RETIREMENT SYSTEM
 
                      SUBCHAPTER II--BASIC ANNUITY
 
Sec. 8420a. Alternative forms of annuities

    (a) The Office shall prescribe regulations under which any employee 
or Member who has a life-threatening affliction or other critical 
medical condition may, at the time of retiring under this subchapter, 
elect annuity benefits under this section instead of any other benefits 
under this subchapter, and any benefits under subchapter IV of this 
chapter, based on the service of the employee or Member.
    (b) Subject to subsection (c), the Office shall by regulation 
provide for such alternative forms of annuities as the Office considers 
appropriate, except that among the alternatives offered shall be--
        (1) an alternative which provides for--
            (A) payment of the lump-sum credit (excluding interest) to 
        the employee or Member; and
            (B) payment of an annuity to the employee or Member for 
        life; and

        (2) in the case of an employee or Member who is married at the 
    time of retirement, an alternative which provides for--
            (A) payment of the lump-sum credit (excluding interest) to 
        the employee or Member; and
            (B) payment of an annuity to the employee or Member for 
        life, with a survivor annuity payable for the life of a 
        surviving spouse.

    (c) Each alternative provided for under subsection (b) shall, to the 
extent practicable, be designed such that the present value of the 
benefits provided under such alternative (including any lump-sum credit) 
is actuarially equivalent to the sum of--
        (1) the present value of the annuity which would otherwise be 
    provided under this subchapter, as computed under section 8415; and
        (2) the present value of the annuity supplement which would 
    otherwise be provided (if any) under section 8421.

    (d) An employee or Member who, at the time of retiring under this 
subchapter--
        (1) is married, shall be ineligible to make an election under 
    this section unless a waiver is made under section 8416(a); or
        (2) has a former spouse, shall be ineligible to make an election 
    under this section if the former spouse is entitled to benefits 
    under section 8445 or 8467 (based on the service of the employee or 
    Member) under the terms of a decree of divorce or annulment, or a 
    court order or court-approved property settlement incident to any 
    such decree, with respect to which the Office has been duly 
    notified.

    (e) An employee or Member who is married at the time of retiring 
under this subchapter and who makes an election under this section may, 
during the 18-month period beginning on the date of retirement, make the 
election provided for under section 8416(d), subject to the deposit 
requirement thereunder.

(Added Pub. L. 99-335, title I, Sec. 101(a), June 6, 1986, 100 Stat. 
532; amended Pub. L. 101-508, title VII, Sec. 7001(a)(1), Nov. 5, 1990, 
104 Stat. 1388-327; Pub. L. 103-66, title XI, Sec. 11002(a), Aug. 10, 
1993, 107 Stat. 409.)


                               Amendments

    1993--Subsec. (a). Pub. L. 103-66, Sec. 11002(a)(1), substituted 
``any employee or Member who has a life-threatening affliction or other 
critical medical condition'' for ``an employee or Member''.
    Subsec. (f). Pub. L. 103-66, Sec. 11002(a)(2), struck out subsec. 
(f) which prohibited election of alternative form of annuity where 
commencement date would be after Dec. 1, 1990, with certain exceptions.
    1990--Subsec. (f). Pub. L. 101-508 added subsec. (f).


                    Effective Date of 1993 Amendment

    Amendment by Pub. L. 103-66 effective Oct. 1, 1994, and applicable 
with respect to any annuity commencing on or after that date, see 
section 11002(d) of Pub. L. 103-66, set out as a note under section 
8343a of this title.


Applicability of Sections 8343a(f) and 8420a(f) to Individuals Called to 
      or Performing Duty in Connection With Operation Desert Shield

    For provisions relating to application of subsec. (f) of this 
section to certain members of Armed Forces who were called or ordered to 
active duty in connection with Operation Desert Shield and to certain 
employees of Department of Defense who are certified to have performed 
duties essential for support of Operation Desert Shield, see section 
7001(a)(4) of Pub. L. 101-508, set out as a note under section 8343a of 
this title.


  Partial Deferred Payment of Lump-Sum Credit for Certain Individuals 
                 Electing Alternative Forms of Annuities

    For provisions relating to deferred payment of lump-sum credit for 
certain individuals electing alternative forms of annuities, see notes 
set out under section 8343a of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 8348, 8424 of this title.
