§ 4064.
(b)
Part-time, intermittent, or temporary employment; election to continue receiving annuity; reduction in amount of annuity; resumption of full annuity
(1)
A participant who is entitled to an annuity under this part or part II of this subchapter and becomes employed in an appointive or elective position in the Government on a part-time, intermittent, or temporary basis may elect to continue to receive either or both annuities as provided in this subsection.
(2)
The total annuity payable under this subchapter to an annuitant making an election under paragraph (1) shall be reduced during the part-time, intermittent, or temporary employment referred to in paragraph (1) as necessary to meet the requirements of paragraph (3).
(3)
(A)
The sum of—
(i)
the total annuity payable under this subchapter to an annuitant making an election under paragraph (1), and
(ii)
the annual rate of pay payable to the annuitant during the part-time, intermittent, or temporary employment referred to in paragraph (1),
may not exceed, in any calendar year, the amount described in subparagraph (B).
(B)
The amount referred to in subparagraph (A) is the greater of—
(i)
the highest annual rate of basic pay which is payable during such year for full-time employment in the position in which the annuitant is employed, or
(ii)
the basic pay the annuitant was entitled to receive under this chapter on the date of retirement from the Service.
(C)
For purposes of this section, the term “annuity” means the annuity earned by the reemployed member based on his or her service irrespective of whether or not the amount payable is reduced by the amount of an annuity payable under section 4054 or 4060(b) of this title.
(4)
Upon termination of the part-time, intermittent, or temporary employment referred to in paragraph (1), payment of the full annuity of an annuitant who has made an election under paragraph (1) of this subsection shall resume.
([Pub. L. 96–465, title I, § 824], Oct. 17, 1980, [94 Stat. 2122]; [Pub. L. 99–335, title IV], §§ 402(a)(2), 410, June 6, 1986, [100 Stat. 609], 613; [Pub. L. 99–556, title IV, § 403], Oct. 27, 1986, [100 Stat. 3136]; [Pub. L. 105–277, div. C, title I, § 103], Oct. 21, 1998, [112 Stat. 2681–585]; [Pub. L. 109–234, title I, § 1602(a)], June 15, 2006, [120 Stat. 440]; [Pub. L. 109–289, div. B, title II, § 20941], as added [Pub. L. 110–5, § 2], Feb. 15, 2007, [121 Stat. 46]; [Pub. L. 110–50, § 2], July 30, 2007, [121 Stat. 261]; [Pub. L. 110–321, § 1], Sept. 19, 2008, [122 Stat. 3535]; [Pub. L. 111–32, title XI, § 1115(c)(1)], June 24, 2009, [123 Stat. 1905]; [Pub. L. 114–323, title IV, § 405(a)], Dec. 16, 2016, [130 Stat. 1929].)