50 USC 2056 – Eligibility for annuity
(a) One-out-of-two requirement
A participant must complete, within the last two years before any separation from service (except a separation because of death or disability) at least one year of creditable civilian service during which the participant is subject to this subchapter and in a pay status before the participant or the participant’s survivors are eligible for an annuity under this subchapter based on that separation.
(b) Refund of contributions for time not allowed for credit
Terms Used In 50 USC 2056
- 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.
If a participant (other than a participant separated from the service because of death or disability) fails to meet the service and pay status requirement of subsection (a), any amounts deducted from the participant’s pay during the period for which no eligibility is established based on the separation shall be returned to the participant on the separation.
(c) Exception
Failure to meet the service and pay status requirement of subsection (a) shall not deprive the participant or the participant’s survivors of any annuity to which they may be entitled under this subchapter based on a previous separation.