PUBLIC LAWS-CH. 762-JUNE 30, 1948 and regulations of the retirement system of the Office of the Comp- troller of the Currency, or, if he has no such additional allowable service, the excess shall be repaid to such employee in cash: Provided deSomptiose frometfurther, That no part of said sum credited to such employee's indi- vidual account shall be applied to any period of allowable service prior to August 1,1920, or to periods of honorable service in the Army, Navy, Air Force, Marine Corps, or Coast Guard of the United States, for which periods no deposit shall be required, as provided by section 9 Ante, p. 53 . of the Act of May 29, 1930, as amended; nor shall deposits be required for any periods of time prior to June 1, 1936, for which such employee has creditable service under the rules and regulations of the retirement system of the Office of the Comptroller of the Currency, in excess of the amount of such employee's accumulated contributions plus interest standing to his credit on the books of the retirement system of the Officer of the Comptroller of the Currency at the date of its termination. Retirement prior to SEC. 3 . (a) In the case of an officer or employee who, prior to the effective date of this Act, shall have been retired on annuity under the rules and regulations of the retirement system of the Comptroller's Office, the annuity shall be paid out of the Civil Service Retirement and Disability Fund and shall be increased effective on the first day of the third month following the month in which this Act is enacted by 25 per centum or $300, whichever is the lesser: Provided, That each such annuitant may, prior to the effective date herein prescribed, elect to retain his or her present annuity in lieu of the increased annuity pro- vided by this subsection and name his wife or her husband to receive upon his or her death one-half of his or her present annuity but not to exceed $600 per annum during the remainder of the life of such sur- viving wife or husband and upon the death of such survivor no further annuity shall be due or payable: Provided further, That the amount payable in the event of the death of the annuitant either to his nomi- nated beneficiary or estate, in the form of a lump-sum payment or sur- vivor's annuity, shall not be less than the amounts which would have been payable under the applicable rules and regulations of the retire- ment system of the Comptroller's Office. Payment of certain (b) In the case of any officer or employee who was a member of the deerred annuities retirement system of the Comptroller's Office and who, prior to the effective date of this Act, terminated his employment with that Office and elected to receive a deferred annuity at age sixty-five, under the applicable rules and regulations of the retirement system of that Office, such annuity shall be payable out of the Civil Service Retirement and Disability Fund beginning at the age of sixty-two years. Otherwise his rights shall be determined and the annuity computed as though this Act had not been enacted. Withdrawal of con- SEC. 4. In the case of any officer or employee or former officer or em- tributions. ployee of the Office of the Comptroller of the Currency who withdrew his accumulated contributions from the retirement fund of that Office upon leaving its employ, said officer or employee or former officer or employee of such Office shall be entitled to the same allowable service s46tat. 4 g8. under the Civil Service Retirement Act of May 29, 1930, as amended, 6U.S.c.J69et t eq.; supp. I, t oeoto which he would have been entitled if he had never been a member of nMe, p. 48 the retirement system of the Comptroller's Office, subject, however, to the payment of the deposits required under said Act of May 29,1930, as amended. Effective date SEC. 5 . This Act shall become effective on the first day of the first pay period which begins at least thirty days after the date of its enactment. Approved June 30, 1948. [62 STAT.
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