
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 50USC2121]

 
                   TITLE 50--WAR AND NATIONAL DEFENSE
 
    CHAPTER 38--CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY
 
  SUBCHAPTER II--CENTRAL INTELLIGENCE AGENCY RETIREMENT AND DISABILITY 
                                 SYSTEM
 
                     Part I--Voluntary Contributions
 
Sec. 2121. Voluntary contributions


(a) Authority for voluntary contributions

                           (1) In general

        Under such regulations as may be prescribed by the Director, a 
    participant may voluntarily contribute additional sums in multiples 
    of one percent of the participant's basic pay, but not in excess of 
    10 percent of such basic pay.

                            (2) Interest

        The voluntary contribution account in each case is the sum of 
    unrefunded contributions, plus interest--
            (A) for periods before January 1, 1985, at 3 percent a year; 
        and
            (B) for periods on or after January 1, 1985, at the rate 
        computed under section 8334(e) of title 5,

    compounded annually to the date of election under subsection (b) of 
    this section or the date of payment under subsection (d) of this 
    section.

(b) Treatment of voluntary contributions

    Effective on the date of retirement and at the election of the 
participant, the participant's account shall be--
        (1) returned in a lump sum;
        (2) used to purchase an additional life annuity;
        (3) used to purchase an additional life annuity for the 
    participant and to provide for a cash payment on the participant's 
    death to a beneficiary; or
        (4) used to purchase an additional life annuity for the 
    participant and a life annuity commencing on the participant's death 
    payable to a beneficiary, with a guaranteed return to the 
    beneficiary or the beneficiary's legal representative of an amount 
    equal to the cash payment referred to in paragraph (3).

In the case of a benefit provided under paragraph (3) or (4), the 
participant shall notify the Director in writing of the name of the 
beneficiary of the cash payment or life annuity to be paid upon the 
participant's death.

(c) Value of benefits

    The benefits provided by subsection (b)(2), (3), or (4) of this 
section shall be actuarially equivalent in value to the payment provided 
for in subsection (b)(1) of this section and shall be calculated upon 
such tables of mortality as may be from time to time prescribed for this 
purpose by the Director.

(d) Lump-sum payment

    A voluntary contribution account shall be paid in a lump sum at such 
time as the participant dies or separates from the Agency without 
entitlement to an annuity. In the case of death, the account shall be 
paid in the order of precedence specified in section 2071(c) of this 
title.

(e) Benefits in addition to other benefits

    Any benefit payable to a participant or to the participant's 
beneficiary with respect to the additional contributions provided under 
this section shall be in addition to benefits otherwise provided under 
this subchapter.

(Pub. L. 88-643, title II, Sec. 281, as added Pub. L. 102-496, title 
VIII, Sec. 802, Oct. 24, 1992, 106 Stat. 3239.)


                            Prior Provisions

    A prior section 281 of Pub. L. 88-643, title II, Oct. 13, 1964, 78 
Stat. 1053; Ex. Ord. No. 12443, Sec. 3, Sept. 27, 1983, 48 F.R. 44751; 
Pub. L. 99-335, title V, Sec. 501(2), June 6, 1986, 100 Stat. 622, 
related to voluntary contributions and was set out as a note under 
section 403 of this title prior to the general amendment of Pub. L. 88-
643 by section 802 of Pub. L. 102-496.

                  Section Referred to in Other Sections

    This section is referred to in sections 2021, 2052, 2071 of this 
title.
