50 U.S.C. § 2054 — Discontinued service benefits

Page 350 TITLE 50—WAR AND NATIONAL DEFENSE § 2054 separation from service voluntarily for Agency employees under section 8336(d)(2) of title 5 with respect to the Civil Service Retirement System or section 8414(b)(1)(B) of such title with respect to the Federal Employees’ Retirement System. (Pub. L. 88–643, title II, § 233, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3225; amended Pub. L. 103–36, § 3, June 8, 1993, 107 Stat. 106.) Editorial Notes PRIOR PROVISIONS A prior section 233 of Pub. L. 88–643, title II, Oct. 13, 1964, 78 Stat. 1048, related to voluntary retirement 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. AMENDMENTS 1993—Pub. L. 103–36 designated existing provisions as subsec. (a) and added subsec. (b). Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on first day of fourth month begin- ning after Oct. 24, 1992, see section 805 of Pub. L. 102–496, set out as a note under section 2001 of this title. § 2054. Discontinued service benefits (a) Deferred annuity A participant who separates from the Agency may, upon separation or at any time before the commencement of an annuity under this sub- chapter, elect— (1) to have the participant’s contributions to the fund returned to the participant in accord- ance with section 2071(a) of this title; or (2) except in a case in which the Director de- termines that separation was based in whole or in part on the ground of disloyalty to the United States, to leave the contributions in the fund and receive an annuity, computed as prescribed in section 2031 of this title, com- mencing at age 62. (b) Refund of contributions if former participant dies before age 62 If a participant who qualifies under subsection (a) to receive a deferred annuity commencing at age 62 dies before reaching age 62, the partici- pant’s contributions to the fund, with interest, shall be paid in accordance with the provisions of section 2071 of this title. (Pub. L. 88–643, title II, § 234, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3225; amended Pub. L. 103–178, title II, § 202(a)(10), Dec. 3, 1993, 107 Stat. 2026.) Editorial Notes PRIOR PROVISIONS A prior section 234 of Pub. L. 88–643, title II, Oct. 13, 1964, 78 Stat. 1048; Pub. L. 97–269, title VI, § 608, Sept. 27, 1982, 96 Stat. 1152; Pub. L. 99–335, title V, § 501(2), June 6, 1986, 100 Stat. 622, related to discontinued service benefits 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. AMENDMENTS 1993—Subsec. (b). Pub. L. 103–178 substituted ‘‘section 2071’’ for ‘‘sections 2071 and 2121’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1993 AMENDMENT Amendment by Pub. L. 103–178 effective Feb. 1, 1993, see section 202(b) of Pub. L. 103–178, set out as a note under section 2001 of this title. EFFECTIVE DATE Section effective on first day of fourth month begin- ning after Oct. 24, 1992, see section 805 of Pub. L. 102–496, set out as a note under section 2001 of this title. § 2055. Mandatory retirement (a) Involuntary retirement (1) AUTHORITY OF DIRECTOR.—The Director may, in the Director’s discretion, place in a re- tired status any participant in the system de- scribed in paragraph (2). (2) Paragraph (1) applies with respect to any participant who has not less than 10 years of service with the Agency and who— (A) has completed at least 25 years of serv- ice; or (B) is at least 50 years of age and has com- pleted at least 20 years of service. (b) Mandatory retirement for age (1) In general A participant in the system shall be auto- matically retired from the Agency— (A) upon reaching age 65, in the case of a participant in the system who is at the Sen- ior Intelligence Service rank of level 4 or above; and (B) upon reaching age 60, in the case of any other participant in the system. (2) Effective date of retirement Retirement under paragraph (1) shall be ef- fective on the last day of the month in which the participant reaches the age applicable to that participant under that paragraph. (3) Authority for extension In any case in which the Director determines it to be in the public interest, the Director may extend the mandatory retirement date for a participant under this subsection by a pe- riod of not to exceed 5 years. (c) Retirement benefits A participant retired under this section shall receive retirement benefits in accordance with section 2031 of this title. (Pub. L. 88–643, title II, § 235, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3225; amended Pub. L. 111–259, title II, § 201, Oct. 7, 2010, 124 Stat. 2657.) Editorial Notes PRIOR PROVISIONS A prior section 235 of Pub. L. 88–643, title II, Oct. 13, 1964, 78 Stat. 1049; Ex. Ord. No. 12443, § 13, Sept. 27, 1983, 48 F.R. 44754; Pub. L. 99–335, title V, § 501(2), June 6, 1986, 100 Stat. 622; Pub. L. 102–183, title III, § 307, Dec. 4, 1991, 105 Stat. 1265, related to mandatory retirement 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. AMENDMENTS 2010—Subsec. (b)(1)(A). Pub. L. 111–259 substituted ‘‘who is at the Senior Intelligence Service rank’’ for