Sec. 603. computation of annuities for other than former spouses
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## Sec. 603 computation of annuities for other than former spouses Section 221 of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees is amended— ####
(1)by inserting immediately above the section the following section heading: ‶computation of annuities for other than former spouses″; and ####
(2)by amending subsection
(b)to read as follows: > > ### “(b) > > > ####
(1)> > > #####
(A)> > Except to the extent provided otherwise under a written election under subparagraph
(B)or (C), if at the time of retirement a participant or former participant is married (or has a former spouse who has not remarried before attaining age 60), the participant shall receive a reduced annuity and provide a survivor annuity for his or her spouse under this subsection or former spouse under section 222(b), or a combination of such annuities, as the case may be. > > > ##### “(B) > > A married participant or former participant and his or her spouse may jointly elect in writing to waive a survivor annuity for that spouse under this section (or under section 222(b) if the spouse later qualifies as a former spouse under section 204(b)(4)), or to reduce such survivor annuity under this section (or section 222(b)) by designating a portion of the annuity of the participant as the base for the survivor benefit. If the marriage is dissolved following an election for such a reduced annuity and the spouse qualifies as a former spouse, the base used in calculating any annuity of the former spouse under section 222(b) may not exceed the portion of the participant's annuity designated under this subparagraph. > > > ##### “(C) > > If a participant or former participant has a former spouse, the participant (or former participant) and such former spouse may jointly elect by spousal agreement under section 263(b) to waive a survivor annuity under section 222(b) for that former spouse, if the election is made
(i)before the end of the 12-month period beginning on the date the divorce or annulment involving that former spouse becomes final or
(ii)at the time of retirement of the participant. > > > ##### “(D) > > The Director may prescribe regulations under which a participant or former participant may make an election under subparagraph
(B)or
(C)without the participant's spouse or former spouse if the participant establishes to the satisfaction of the Director that the participant does not know, and has taken all reasonable steps to determine, the whereabouts of the spouse or former spouse. > > > #### “(2) > > The annuity of a participant or former participant providing a survivor benefit under this section (or section 222(b)), excluding any portion of the annuity not designated or committed as a base for any survivor annuity, shall be reduced by 2½ percent of the first $3,600 plus 10 percent of any amount over $3,600. The reduction under this paragraph shall be calculated before any reduction under section 222(a)(4). > > > #### “(3) > > > #####
(A)> > If a former participant entitled to receive a reduced annuity under this subsection dies and is survived by a spouse, a survivor annuity shall be paid to the surviving spouse equal to 55 percent of the full amount of the participant's annuity computed under subsection (a), or 55 percent of any lesser amount elected as the base for the survivor benefit under paragraph (1)(B). > > > ##### “(B) > > Notwithstanding subparagraph (A), the amount of the annuity calculated under subparagraph
(A)for a surviving spouse in any case in which there is also a surviving former spouse of the participant who qualifies for an annuity under section 222(b) may not exceed 55 percent of the portion (if any) of the base for survivor benefits which remains available under section 222(b)(4)(B). > > > ##### “(C) > > An annuity payable from the fund to a surviving spouse under this paragraph shall commence on the day after the participant dies and shall terminate on the last day of the month before the surviving spouse's death or remarriage before attaining age 60. If such a survivor annuity is terminated because of remarriage, it shall be restored at the same rate commencing on the date such remarriage is dissolved by death, annulment, or divorce if any lump sum paid upon termination of the annuity is returned to the fund.” > .