1. Short title
This Act may be cited as the “Veterans Flexibility of Annuities for Income Relief Act of 2018” or the “Veterans FAIR Act of 2018”.
Veterans Flexibility of Annuities for Income Relief Act of 2018
A BILL
To amend title 10, United States Code, to expand the circumstances under which participants may elect to discontinue participation in the Survivor Benefits Plan, and for other purposes.
2. Conditions under which a participant may elect to discontinue
Section 1448a(a) of title 10, United States Code, is amended—
by striking “at any time” and all that follows through “commences.” and inserting an em dash; and
by adding at the end the following new paragraphs:
“(1) at any time during the six-year period beginning on the second anniversary of the date on which payment of retired pay to the participant commences; or
“(2) if the Secretary determines that each beneficiary of that participant has been—
“(A) diagnosed with a terminal illness; or
“(B) admitted into hospice care.”