108 STAT. 4232 PUBLIC LAW 103-409—OCT. 25, 1994 (b) TABLE OF SECTIONS.— The table of sections for chapter 87 of title 5, United States Code, is amended by inserting after the item relating to section 8714c the following: "8714d. Option to receive living benefits'.". SEC. 3. EFFECTIVE DATE; OPEN SEASON AND NOTICE. 5 USC 8704 (a) EFFECTIVE DATE. —The amendments made by section 2 shall ^^^- take effect 9 months after the date of the enactment of this Act. Regulations. (b) OPEN SEASON; NOTICE.— (1) The Office of Personnel Manage- ^ V^^ ^^^^ ment shall prescribe regulations under which, beginning not later "^ than 9 months after the date of the enactment of this Act, and over a period of not less than 8 weeks— (A) an employee (as defined by section 8701(a) of title 5, United States Code) who declined or voluntarily terminated coverage under chapter 87 of such title— (i) may elect to begin, or to restune, group life insurance •^ and group accidental death and dismemberment insurance; and -f (ii) may make such other elections under such chapter as the Office may allow; and (B) such other elections as the Office allows may be made. (2) The Office shall take such action as may be necessary to ensure that employees and any other individuals who would be eligible to make an election under this subsection are afforded advance notification to that effect. 5 USC 8714 SEC. 4. FUNDING. Notwithstanding section 8714(a)(l) of title 5, United States Code, the Office of Personnel Management shall retain in the Employees' Life Insurance Fund such portion of premium payments otherwise due as wili, no later than September 30, 1995, permanentiy reduce the contingency reserve established under the third sentence of section 8712 of such title 5 by an amount equal to the amount by which payments from the Employees' Life Insurance Fund dming the fiscal year ending September 30, 1995, exceed the payments that would have been paid had the amendments made by this Act not been enacted. 5 USC 8901 SEC. 5. CONTINUATION OF HEALTH BENEFITS COVERAGE FOR note- INDIVIDUALS ENROLLED IN A PLAN ADMINISTERED BY THE OFFICE OF THE COMPTROLLER OF THE CURRENCY OR THE OFFICE OF THRIFT SUPERVISION. (a) ENROLLMENT IN CHAPTER 89 PLAN. —For purposes of the administration of chapter 89 of title 5, United States Code, amy period of enrollment under a health benefits plan administered by the Office of the Comptroller of the Currency or the Office of Thrift Supervision before the termination of such plans on January 7, 1995, shall be deemed to be a period of enrollment in a health benefits plan under chapter 89 of such title. (b) CONTINUED COVERAGE.—- (1) Any individual who, on January 7, 1995, is covered by a hesdth benefits pleui administered by the Office of the Comptroller of the Ciirrency or the Office of Thrift Supervision may enroll in an approved health benefits plsui described under section 8903 or 8903a of title 5, United States Code— (A) either as an individual or for self and family, if such individual is an employee, annuitant, or former spouse as defined under section 8901 of such title; and
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