(1) If the annual rate at which spouse's pension is payable to a person under subsection 96(2A) is less than the annual rate determined in writing by CSC for the purposes of this section, the person may, not later than 3 months after the pension becomes payable, by notice in writing to CSC, elect to commute that pension into a lump sum benefit payable to him or her.
(2) If the person makes the election, there is payable to the person, instead of spouse's pension, a lump sum of an amount determined in writing by CSC after consultation with an actuary.