been so reduced, computed from the date 
on which the retired pay would have been 
so reduced at such rate or rates and ac-
cording to such methodology as the Sec-
retary determines reasonable; and 
(iii) any additional amount that the 
Secretary determines necessary to protect 
the actuarial soundness of the Department 
of Defense Military Retirement Fund 
against any increased risk for the fund 
that is associated with the election. 
(C) PREMIUMS TO BE CREDITED TO RE-
TIREMENT
FUND.—Premiums paid under the 
regulations prescribed under subparagraph (A) 
shall be credited to the Department of Defense 
Military Retirement Fund. 
(b) ELECTIONS BY PERSONS CURRENTLY PARTICI-
PATING IN SURVIVOR BENEFIT PLAN.— 
(1) ELECTION TO CHANGE INSURABLE INTER-
EST OR FORMER SPOUSE BENEFICIARY.—A person 
participating in the Survivor Benefit Plan on the 
day before the first day of the open season described 
in subsection (e) may elect to change a previous 
election of insurable interest or former spouse bene-
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ficiary to provide an annuity to a spouse or depend-
ent child. 
(2) ELECTION TO DISCONTINUE SBP PARTICI-
PATION.— 
(A) AUTHORITY.—A person participating 
in the Survivor Benefit Plan on the day before 
the first day of the open season described in 
subsection (e) may elect to discontinue such 
participation during the open season. 
(B) CONSENT OF BENEFICIARIES.— 
(i) IN GENERAL.—Except as provided 
in clause (ii), a person described in sub-
paragraph (A) may not make an election 
under that paragraph without the concur-
rence of— 
(I) each designated beneficiary of 
such person under the Survivor Ben-
efit Plan; and 
(II) the spouse of such person, if 
such person is married. 
(ii) EXCEPTION
WHEN
BENEFICIARY 
UNAVAILABLE.—A person may make an 
election under subparagraph (A) without a 
concurrence required under clause (ii) if 
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the person establishes to the satisfaction of 
the Secretary concerned— 
(I) that the whereabouts of the 
spouse or beneficiary, as the case may 
be, cannot be determined; or 
(II) that, due to exceptional cir-
cumstances, requiring the person to 
seek the consent of the spouse or ben-
eficiary, as the case may be, would 
otherwise be inappropriate. 
(C) TREATMENT OF PREMIUMS.— 
(i) DISCONTINUATION
OF
REDUC-
TIONS IN PAY.—As of the effective date 
under subsection (d) of an election by a 
person under subparagraph (A), the Sec-
retary concerned shall discontinue the re-
duction being made in the retired pay of 
the person arising from participation in the 
Survivor Benefit Plan or, in the case of a 
person who has been required to make de-
posits in the Treasury on account of par-
ticipation in the Survivor Benefit Plan, 
that person may discontinue making such 
deposits effective on such effective date. 
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(ii) TREATMENT
OF
PREVIOUS
RE-
DUCTIONS.—A person who makes an elec-
tion under subparagraph (A) is not enti-
tled to a refund of any reduction or deposit 
described in clause (i) made before such ef-
fective date. 
(c) MANNER OF MAKING ELECTIONS.— 
(1) IN GENERAL.—An election under subsection 
(a) or (b) shall be made in writing, signed by the 
person making the election, and received by the Sec-
retary concerned before the end of the open season 
described in subsection (e). 
(2) CONDITIONS.—Except as provided in para-
graph (3), an election under subsection (a) shall be 
made subject to the same conditions, and with the 
same opportunities for designation of beneficiaries 
and specification of base amount, that apply under 
the Survivor Benefit Plan. 
(3) ELECTION MUST BE VOLUNTARY.—An elec-
tion under subsection (a) or (b) is not effective un-
less the person making the election declares the elec-
tion to be voluntary. An election under subsection 
(a) or (b) to participate or not to participate in the 
Survivor Benefit Plan may not be required by any 
court. An election by a person under subsection (a) 
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to participate in the Survivor Benefit Plan is not 
subject to the concurrence of a spouse or former 
spouse of the person. 
(4) DESIGNATION WITH RESPECT TO RESERVE- 
COMPONENT ANNUITY.—A person making an elec-
tion under subsection (a) to provide a reserve-com-
ponent annuity shall make a designation described 
in section 1448(e) of title 10, United States Code. 
(d) EFFECTIVE DATE FOR ELECTIONS.—An election 
under subsection (a) or (b) shall be effective on the first 
day of the first calendar month following the month in 
which the election is received by the Secretary concerned. 
(e) OPEN SEASON DESCRIBED.—The open season de-
scribed in this subsection is the period beginning on the 
date of the enactment of this Act and ending on December 
31, 2025. 
(f) APPLICABILITY
OF CERTAIN PROVISIONS
OF 
LAW.—The provisions of sections 1449, 1450, 1453, and 
1454 of title 10, United States Code, are applicable to 
a person making an election, and to an election, under 
subsection (a) or (b) in the same manner as if the election 
were made under the Survivor Benefit Plan. 
(g) DEFINITIONS.—In this section: 
(1) The terms ‘‘base amount’’, ‘‘reserve-compo-
nent annuity’’, and ‘‘standard annuity’’ have the 
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meanings given those terms in section 1447 of title 
10, United States Code. 
(2) The term ‘‘Department of Defense Military 
Retirement Fund’’ means the fund established under 
section 1461(a) of title 10, United States Code. 
(3) The term ‘‘retired pay’’ includes retainer 
pay. 
(4) The terms ‘‘Secretary concerned’’ and ‘‘uni-
formed services’’ have the meanings given those 
terms in section 101 of title 37, United States Code. 
(5) The term ‘‘Survivor Benefit Plan’’ means 
the program established under subchapter II of 
chapter 73 of title 10, United States Code. 
Æ 
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