50 USC 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 subchapter, elect—
(1) to have the participant’s contributions to the fund returned to the participant in accordance with section 2071(a) of this title; or
(2) except in a case in which the Director determines 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, commencing at age 62.
(b) Refund of contributions if former participant dies before age 62
Terms Used In 50 USC 2054
- Agency: means the Central Intelligence Agency. See 50 USC 2001
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Director: means the Director of the Central Intelligence Agency. See 50 USC 2001
If a participant who qualifies under subsection (a) to receive a deferred annuity commencing at age 62 dies before reaching age 62, the participant’s contributions to the fund, with interest, shall be paid in accordance with the provisions of section 2071 of this title.