22 USC 4065 - Voluntary contribution account

U.S Code last checked for updates: May 03, 2024

§ 4065.

Voluntary contribution account

(a)

Composition; election and return

(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 his or her death to a beneficiary whose name shall be notified in writing to the Secretary of State by the participant; or

(4)

used to purchase an additional life annuity for the participant and a life annuity commencing on his or her death payable to a beneficiary whose name shall be notified in writing to the Secretary of State by the participant, with a guaranteed return to the beneficiary or his or her legal representative of an amount equal to the cash payment referred to in paragraph (3).

(b)

Computation of benefits

(c)

Lump-sum payment; time; order of precedence

(Pub. L. 96–465, title I, § 825, Oct. 17, 1980, 94 Stat. 2122.)

cite as: 22 USC 4065