§ 8418. Survivor elections; deposit; offsets
(a)
(1)
An individual who makes an election under subsection (b) or (c) of section
8416 or section
8417
(b) which is required to be made within 2 years after the date of a prescribed event shall deposit into the Fund an amount determined by the Office (as nearly as may be administratively feasible) to reflect the amount by which the annuity of such individual would have been reduced if the election had been in effect since the date of retirement (or, if later, and in the case of an election under such section
8416
(b), since the date the previous reduction in the annuity of such individual was terminated under paragraph (1) or (2) of section
8419
(b)), plus interest.
(b)
The Office shall, by regulation, provide for payment of the deposit required under subsection (a) by a reduction in the annuity of the employee or Member. The reduction shall, to the extent practicable, be designed so that the present value of the future reduction is actuarially equivalent to the deposit required under subsection (a), except that the total reductions in the annuity of an employee or Member to pay deposits required by this section shall not exceed 25 percent of the annuity computed under section
8415 or section
8452, including adjustments under section
8462. The reduction required by this subsection, which shall be effective at the same time as the election under section
8416
(b) and (c) or section
8417
(b), shall be permanent and unaffected by any future termination of the marriage or the entitlement of the former spouse. Such reduction shall be independent of and in addition to the reduction required under section
8416
(b) and (c) or section
8417
(b).
(c)
Subsections (a) and (b) shall not apply if—
(d)
The Office shall prescribe regulations under which the survivor of an employee or Member may make a deposit under this section.