A bill to amend title 5, United States Code, to provide that any Federal employee who, at the time of retirement, does not elect a reduced annuity in order to provide a survivor annuity to a spouse or other person may make such an election within one year after retiring, and for other purposes.

Permits any Federal Employee or Member of Congress, within one year after retiring, to: (1) elect to provide for a survivor annuity if such an election was not made at retirement; or (2) increase the amount of a spouse's survivor annuity provided for at retirement. Requires an employee or Member who takes such action to deposit into the Civil Service Retirement and Disability Fund an amount equal to the full amount by which the annuity paid to such employee or member would have been reduced if he or she had provided for such survivor annuity upon retirement. Permits the Office of Personnel Management to allow employees and Members who retired more than one year before enactment of this Act to pay the amount required to be deposited in installments over a five-year period.