Page:United States Statutes at Large Volume 106 Part 4.djvu/471
PUBLIC LAW 102-496—OCT. 24, 1992 106 STAT. 3207 pant (or in such portion thereof as the participant may designate) in order to provide a survivor annuity for the participant's spouse. "(B) ELECTION WHEN REDUCED SPOUSE ANNUITY ELECTED. —A participEUit or former participant who retires after March 31, 1992, and— "(i) who, at the time of retirement, is married, and (ii) who, at that time designates (in accordance with subsection (b)) that a portion of the annuity of such participant is to be used as the base for a survivor annuity, may, diuing the 18-month period beginning on the date of the retirement of such participant, elect to have a greater portion of the annuity of such participant so used.
- (2) DEPOSIT REQUIRED.—
"(A) REQUIREMENT.— An election under paragraph (1) shall not be effective unless the amount specified in subparagraph (B) is deposited into the fund before the end of that 18-month period. "(B) AMOUNT OF DEPOSIT.— The amount to be deposited with respect to an election under this subsection is the amount equal to the sum of the following: "(i) ADDITIONAL COST TO SYSTEM.—The additional cost to the system that is associated with providing a survivor annuity under subsection (b) and that results from such election, taking into account— "(I) the difference (for the period between the date on which the annuity of the participant or former participant commences and the date of the election) between the amount paid to such participant or former participant under this title and the amount which would have been paid if such election had been made at the time the participant or former participant applied for the annuity; and " (ID the costs associated with providing for the later election. "(ii) INTEREST.—Interest on the additional cost determined under clause (i), computed using the interest rate specified or determined under section 8334(e) of title 5, United States Code, for the calendar year in which the amount to be deposited is determined. "(3) VOIDING OF PREVIOUS ELECTIONS.— An election by a participant or former participant under this subsection voids prospectively any election previously made in the case of such participant under subsection (b). "(4) REDUCTIONS IN ANNUITY.— An annuity that is reduced in connection with an election under this subsection shall be reduced by the same percentage reductions as were in effect at the time of the retirement of the participant or former participant whose annuity is so reduced. "(5) RIGHTS AND OBLIGATIONS RESULTING FROM REDUCED ANNUITY ELECTION. — Rights and obligations resulting from the election of a reduced annuity under this subsection shall be the same as the rights and obligations that would have resulted�