50 USC 2021 - Contributions to fund

U.S Code last checked for updates: Feb 22, 2025

§ 2021.

Contributions to fund

(a)

In general

(1)

Definition

In this subsection, the term “revised annuity participant” means an individual who—

(A)

on December 31, 2012—

(i)

is not a participant;

(ii)

is not performing qualifying service; and

(iii)

has less than 5 years of qualifying service; and

(B)

after December 31, 2012, becomes a participant performing qualifying service.

(2)

Contributions

(A)

In general

(B)

Revised annuity participants

(3)

Agency contributions

(A)

In general

(B)

Revised annuity participants

(4)

Deposits to the fund

(b)

Consent of participant to deductions from pay

(c)

Treatment of contributions after 35 years of service

(1)

Accrual of interest

(2)

Use of amounts withheld after 35 years of service

(A)

Use for deposits due under section 2082(b)

(B)

Lump-sum payment

(C)

Purchases of additional elective benefits

In lieu of such a lump-sum payment, the participant may use such amounts—

(i)

to purchase an additional annuity in accordance with section 2121 of this title; or

(ii)

provide any additional survivor benefit for a current or former spouse or spouses.

(d)

Offset for social security taxes

(1)

Persons covered

In the case of a participant who was a participant subject to this subchapter before January 1, 1984, and whose service—

(A)

is employment for the purposes of title II of the Social Security Act [42 U.S.C. 401 et seq.] and chapter 21 of title 26, and

(B)

is not creditable service for any purpose under subchapter III of this chapter or chapter 84 of title 5,

there shall be deducted and withheld from the basic pay of the participant under this section during any pay period only the amount computed under paragraph (2).

(2)

Reduction in contribution

The amount deducted and withheld from the basic pay of a participant during any pay period pursuant to paragraph (1) shall be the excess of—

(A)

the amount determined by multiplying the percent applicable to the participant under subsection (a) by the basic pay payable to the participant for that pay period, over

(B)

the amount of the taxes deducted and withheld from such basic pay under section 3101(a) of title 26 (relating to old-age, survivors, and disability insurance) for that pay period.

(Pub. L. 88–643, title II, § 211, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3202; amended Pub. L. 103–178, title II, § 202(a)(3), Dec. 3, 1993, 107 Stat. 2026; Pub. L. 112–96, title V, § 5003, Feb. 22, 2012, 126 Stat. 200; Pub. L. 118–31, div. G, title IX, § 7901(d)(1), Dec. 22, 2023, 137 Stat. 1106.)

cite as: 50 USC 2021