; or (II) entitle an individual described in subclause (I) to any other payment or annuity under chapter 83 or 84 of such title. (C) Entitlement waiver For the purposes of subparagraph (A), the waiver of a right to the payment of a lump-sum credit under section 8342 or 8424 of title 5, United States Code, is deemed to be a payment to the Treasury of the United States to the credit of the Fund equal to the amount of such lump-sum credit. (D) Payment timing An impacted Federal employee that makes the election under subparagraph (A) must make the payment described in such subparagraph not later than one year after making such election. (E) Withholdings and contributions Subparagraphs (B), (C), and (D) of paragraph (1) shall apply with respect to an impacted Federal employee that makes the election under subparagraph (A) as if such impacted Federal employee is an impacted Federal employee described in paragraph (1)(E). (F) Decline election (i) In general With respect to an impacted Federal employee described in subparagraph (H) that declines to make the election under subparagraph (A), the head of the former employing agency of such impacted Federal employee shall withhold from amounts paid under section 2(a)(1) to such impacted Federal employee— (I) if such impacted Federal employee was subject to chapter 83 of title 5, United States Code, immediately before becoming an impacted Federal employee, an amount equal to the amount that such former employing agency would withhold under subsection (k) or (a)(1)(A) of section 8334 of such title, as applicable, if— (aa) the amounts paid under section 2(a)(1) were basic pay of such impacted Federal employee; and (bb) such impacted Federal employee was employed in the previous Federal position of such impacted Federal employee