The words “of any person who elects an annuity” are substituted for the words “of an active or retired member who has made an election”. The words “in each individual case” and “designated in section 8” are omitted as surplusage. The words “and as of the date of election in the case of a retired member” are omitted as executed. 37:373(c) (1st 23 words of last sentence) is omitted as otherwise covered by the language of the revised section.

1996—Subsec. (b). Pub. L. 104–106 made technical correction to directory language of Pub. L. 90–485, § 1(6). See 1968 Amendment note below.

1972—Subsec. (a). Pub. L. 92–425 substituted “subchapter” for “chapter”.

1968—Subsec. (b). Pub. L. 90–485, as amended by Pub. L. 104–106, substituted provisions authorizing the Secretary to allow the member to reduce the amount of the annuity, allow the member to withdraw from participation in an annuity program, allow the member to elect the annuity provided in section 1434(a)(1) in place of the annuity provided in section 1434(a)(3) under the specified conditions, and allow the member to elect that a child at least 18, but under 23, not be eligible for the specified annuities, setting forth the times when such reduction, withdrawal, or change of election may take place, and disallowing the refunding or crediting of any amount previously withheld, for provisions authorizing the Secretary to allow the member to withdraw from participation in an annuity program whenever the Secretary considers it necessary because of the member’s severe financial hardship, the absence of an eligible beneficiary not of itself to be a basis for such action.

1967—Subsec. (a). Pub. L. 90–207 inserted “but without regard to any increase in that pay to reflect changes in the Consumer Price Index” after “that pay”.

1961—Pub. L. 87–381 designated existing provisions as subsec. (a), added subsec. (b), and inserted “; withdrawal for severe financial hardship” in section catchline.

Pub. L. 104–106, div. A, title XV, § 1505(c), Feb. 10, 1996, 110 Stat. 514, provided that the amendment made by that section is effective Aug. 13, 1968, and as if included in Pub. L. 90–485 as originally enacted.

Amendment by Pub. L. 90–485 effective Aug. 13, 1968, see section 6 of Pub. L. 90–485, set out as a note under section 1431 of this title.

Amendment by Pub. L. 90–207 effective Oct. 1, 1967, see section 7 of Pub. L. 90–207, set out as a note under section 203 of Title 37, Pay and Allowances of the Uniformed Services.