§4047 Payment of Annuity

Summary

An annuity starts on the first day of the month after a participant leaves the Service or after their pay stops and they meet the age and service rules for getting an annuity. There are listed exceptions for certain people, including those retired under section 4009(a) or 4053 or involuntarily separated (except removal for cause), those retiring for disability under section 4048, and anyone who serves 3 days or less in the month of retirement. A survivor must apply and give proof before any survivor annuity is paid; if no application or proof is filed while they are alive, nothing is paid to their estate. A participant can sign a written waiver to refuse all or part of an annuity and can later cancel that waiver; no payments are made for the waiver time. The Secretary of State cannot recover an overpayment from someone who is not at fault when recovery would be unfair or impossible. The Secretary must make rules letting seriously ill retirees choose annuity options instead of other benefits, and must offer alternative forms (including a lump-sum credit without interest plus a life annuity, and for married retirees, that plus a survivor annuity). Alternatives should be actuarially equivalent when possible. Married participants need a spouse’s written waiver to choose, and those with an entitled former spouse need that former spouse’s waiver. A married retiree who elects may, within an 18-month period after retirement, make a further election under section 4046(n) if they meet its deposit rule. Any lump-sum credit paid does not block other benefits under this part.