Retirement of Judge of District of Columbia Tax Court.

(a) The judge of the District of Columbia Tax Court may hereafter retire (1) after having served as a judge of such Court for a period or periods aggregating 20 years or more, whether continuously or not, (2) after having served as a judge of such Court for a period or periods aggregating 10 years or more, whether continuously or not, and having attained the age of 70 years, or (3) after having a permanent disability that prevents performance of his duties, regardless of age or length of service. Such judge may retire for disability by furnishing to the Commissioner of the District of Columbia a certificate of disability signed by the Chief Judge of the United States District Court for the District of Columbia. The judge who retires under this section shall receive annually in monthly installments, during the remainder of his life, a sum equal to such proportion of the salary received by such judge at the time of such retirement as a total of his aggregate years of service bears to the period of 30 years, the same to be paid in the same manner as the salary of such judge. In no event shall the sum received by such judge hereunder be in excess of the salary of such judge at the time of such retirement. In computing the years of service under this section, service in the Board of Tax Appeals for the District of Columbia shall be included whether or not such service be continuous.

(b) The term “retire” as used in this section means and includes retirement, resignation, or failure of reappointment upon the expiration of the term of office of incumbent.