[Code of Federal Regulations]

[Title 32, Volume 1]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 32CFR48.204]



[Page 313]

 

                       TITLE 32--NATIONAL DEFENSE

 

              CHAPTER I--OFFICE OF THE SECRETARY OF DEFENSE

 

PART 48_RETIRED SERVICEMAN'S FAMILY PROTECTION PLAN--Table of Contents

 

                      Subpart B_Election of Options

 

Sec.  48.204  Change or revocation of election.



    (a) A change of election is a change in the amount of the annuity or 

annuities under any option, or a change in any option or options 

selected. A revocation is a cancellation of a previous election and 

constitutes a withdrawal from coverage under the Plan.

    (b) A member may change or revoke his election as often as he 

desires prior to the completion of 19 years of service. Such a change or 

revocation must be dated, signed, witnessed, and delivered to 

appropriate service officials, or postmarked not later than midnight on 

the day in which the member completes 19 years of service. The latest 

election, change, or revocation which is submitted in accordance with 

this subsection will be effective at retirement.

    (c) A member who desires to make an election or change or revoke his 

election after he has completed 19 years of service may do so prior to 

his retirement. However, such an election, change or revocation will be 

effective only if at least 2 years elapse between the date of the 

election, change, or revocation and the date of eligibility to receive 

retired pay.

    (d) A revocation will not prohibit the filing of a new election at a 

later date which will become valid under applicable validation 

provisions.

    (e) A member may, on or after November 1, 1968, at any time prior to 

his retirement, change or revoke his election (provided the change does 

not increase the amount of the annuity elected) to reflect a change in 

the marital or dependency status of the member of his family caused by 

death, divorce, annulment, remarriage, or acquisition of a child, if 

such change or revocation is made within 2 years of such change in 

status.

    (f) Notification of a change in family status is not a change of 

election.

    (g) All changes and revocations on file on August 13, 1968, for 

members not entitled to retired pay shall be subject to the provisions 

of this section unless the member makes the application specified in 

Sec.  48.604(d).