Federal Employees' Retirement System; Present Value Factors, 31629-31631 [E7-11083]

Download as PDF Federal Register / Vol. 72, No. 109 / Thursday, June 7, 2007 / Notices CSRS PRESENT VALUE FACTORS APPLICABLE TO ANNUITY PAYABLE FOLLOWING AN ELECTION UNDER SECTION 8339(J) OR (K) OR SECTION 8343A OF TITLE 5, UNITED STATES CODE, OR UNDER SECTION 1043 OF PUBLIC LAW 104–106 OR FOLLOWING A REDEPOSIT UNDER SECTION 8334(D)(2) OF TITLE 5, UNITED STATES CODE Present value factor rwilkins on PROD1PC63 with NOTICES Age 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. .................................................. VerDate Aug<31>2005 20:59 Jun 06, 2007 289.1 285.5 282.1 278.8 275.3 271.4 267.2 262.9 258.6 253.6 248.6 244.1 239.7 234.9 229.8 224.6 219.4 214.2 209.1 203.9 198.8 193.2 187.4 181.7 176.0 170.2 164.5 159.0 153.4 147.7 142.0 136.3 130.5 124.9 119.4 113.8 108.6 103.6 98.2 92.8 87.6 82.2 76.6 71.8 67.7 63.4 58.8 54.7 51.2 47.9 43.6 Jkt 211001 CSRS PRESENT VALUE FACTORS APPLICABLE TO ANNUITY PAYABLE FOLLOWING AN ELECTION UNDER SECTION 1043 OF PUBLIC LAW 104–106 (FOR AGES AT CALCULATION BELOW 40) Age at calculation 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Present value of a monthly annuity ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ ................................................ 336.3 334.7 333.0 331.3 329.5 327.7 325.8 323.9 321.9 319.8 317.6 315.5 313.3 310.9 308.5 306.1 303.5 300.8 298.1 295.4 292.5 289.5 286.4 U.S. Office of Personnel Management. Linda M. Springer, Director. [FR Doc. E7–11085 Filed 6–6–07; 8:45 am] BILLING CODE 6325–38–P OFFICE OF PERSONNEL MANAGEMENT Federal Employees’ Retirement System; Present Value Factors Office of Personnel Management. ACTION: Notice. AGENCY: SUMMARY: The Office of Personnel Management (OPM) is providing notice of adjusted present value factors applicable to retirees who elect to provide survivor annuity benefits to a spouse based on post-retirement marriage, and to retiring employees who elect the alternative form of annuity or elect to credit certain service with nonappropriated fund instrumentalities. This notice is necessary to conform the present value factors to changes in economic assumptions and demographic factors adopted by the Board of Actuaries of the Civil Service Retirement System. DATES: The revised present value factors apply to survivor reductions or PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 31629 employee annuities that commence on or after October 1, 2007. ADDRESSES: Send requests for actuarial assumptions and data to the Office of Actuaries, Strategic Human Resources Policy Division, Office of Personnel Management, Room 4307, 1900 E Street, NW., Washington, DC 20415. FOR FURTHER INFORMATION CONTACT: Jessica Johnson, (202) 606–0299. SUPPLEMENTARY INFORMATION: Several provisions of the Federal Employees’ Retirement System (FERS) require reduction of annuities on an actuarial basis. Under each of these provisions, OPM is required to issue regulations on the method of determining the reduction to ensure that the present value of the reduced annuity plus a lump sum equals, to the extent practicable, the present value of the unreduced benefit. The regulations for each of these benefits provide that OPM will publish a notice in the Federal Register whenever it changes the factors used to compute the present values of these benefits. Section 842.706(a) of title 5, Code of Federal Regulations, prescribes the method for computing the reduction in the beginning rate of annuity payable to a retiree who elects an alternative form of annuity under 5 U.S.C. 8420a. That reduction is required to produce an annuity that is the actuarial equivalent of the annuity of a retiree who does not elect an alternative form of annuity. The present value factors listed below are used to compute the annuity reduction under 5 CFR 842.706(a). Section 842.615 of title 5, Code of Federal Regulations, prescribes the use of these factors for computing the reduction required for certain elections to provide survivor annuity benefits based on a post-retirement marriage or divorce under 5 U.S.C. 8416(b), 8416(c), or 8417(b). Under section 11004 of the Omnibus Budget Reconciliation Act of 1993, Public Law 103–66, 107 Stat. 312, effective October 1, 1993, OPM ceased collection of these survivor election deposits by means of either a lump-sum payment or installments. Instead, OPM is required to establish a permanent actuarial reduction in the annuity of the retiree. This means that OPM must take the amount of the deposit computed under the old law and translate it into a lifetime reduction in the retiree’s benefit. The reduction is based on actuarial tables, similar to those used for alternative forms of annuity under section 8420a of title 5, United States Code. Subpart F of part 847 of title 5, Code of Federal Regulations, prescribes the use of similar factors for computing the E:\FR\FM\07JNN1.SGM 07JNN1 31630 Federal Register / Vol. 72, No. 109 / Thursday, June 7, 2007 / Notices deficiency the retiree must pay to receive credit for certain service with nonappropriated fund instrumentalities made creditable by an election under section 1043 of Public Law 104–106, 110 Stat. 186. OPM published the present value factors currently in effect on August 30, 2004, at 69 FR 52944. Elsewhere in today’s Federal Register, OPM published a notice to revise the normal cost percentage under the Federal Employees’ Retirement System (FERS) Act of 1986, Public Law 99–335, 100 Stat. 514, based on changed economic assumptions and demographic factors adopted by the Board of Actuaries of the Civil Service Retirement System. Under 5 U.S.C. 8461(i), those changed economic assumptions require corresponding changes in the present value factors used to produce actuarially equivalent benefits when required by the FERS Act. The revised factors will become effective in October 2007 to correspond with the changes in FERS normal cost percentages. For alternative forms of annuity, the new factors will apply to annuities that commence on or after October 1, 2007. See 5 CFR 842.706. For survivor election deposits, the new factors will apply to survivor reductions that commence on or after October 1, 2007. See 5 CFR 842.615(b). For obtaining credit for service with certain nonappropriated fund instrumentalities, the new factors will apply to cases in which the date of computation under 5 CFR 847.603 is on or after October 1, 2007. See 5 CFR 847.602(c) and 847.603. OPM is, therefore, revising the tables of present value factors to read as follows: TABLE I.—FERS PRESENT VALUE FACTORS FOR AGES 62 AND OLDER [Applicable to annuity payable following an election under 5 U.S.C. 8416(b), 8416(c), 8417(b), or 8420a, or under section 1043 of Pub. L. 104–106] Present value factor rwilkins on PROD1PC63 with NOTICES Age 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... VerDate Aug<31>2005 20:59 Jun 06, 2007 174.9 170.0 165.0 159.9 154.9 150.0 145.0 139.9 134.8 129.7 124.4 119.3 114.3 109.2 104.3 Jkt 211001 TABLE I.—FERS PRESENT VALUE FACTORS FOR AGES 62 AND OLDER—Continued [Applicable to annuity payable following an election under 5 U.S.C. 8416(b), 8416(c), 8417(b), or 8420a, or under section 1043 of Pub. L. 104–106] .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... 99.7 94.7 89.6 84.8 79.7 74.4 69.9 66.0 61.9 57.5 53.5 50.2 47.0 42.9 TABLE II.A.—FERS PRESENT VALUE FACTORS FOR AGES 40 THROUGH 61 [Applicable to annuity payable when annuity is not increased by cost-of-living adjustments before age 62 following an election under 5 U.S.C. 8416(b), 8416(c), 8417(b), or 8420a, or under section 1043 of Pub. L. 104–106] PO 00000 .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... Frm 00082 Fmt 4703 Age 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... Present value factor 252.8 250.4 247.8 245.1 242.3 239.5 236.5 233.4 230.2 226.9 223.4 219.8 216.1 212.2 208.2 204.1 199.8 195.4 190.9 186.3 181.6 176.8 Present value factor Age 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 [Applicable to annuity payable when annuity is increased by cost-of-living adjustments before age 62 following an election under 5 U.S.C. 8416(b), 8416 (c), 8417(b), or 8420a, or under section 1043 of Pub. L. 104–106] Present value factor Age 77 78 79 80 81 82 83 84 85 86 87 88 89 90 TABLE II.B.—FERS PRESENT VALUE FACTORS FOR AGES 40 THROUGH 61 Sfmt 4703 TABLE III.—FERS PRESENT VALUE FACTORS FOR AGES AT CALCULATION BELOW 40 185.2 184.9 184.8 184.7 184.5 184.2 183.8 183.4 183.0 182.3 181.5 181.2 180.9 180.5 179.9 179.3 178.8 178.4 178.1 177.9 177.9 177.7 [Applicable to annuity payable following an election under section 1043 of Pub. L. 104– 106] Age at calculation 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... E:\FR\FM\07JNN1.SGM 07JNN1 Present value of a monthly annuity 291.0 290.0 288.9 287.8 286.6 285.4 284.1 282.8 281.4 280.0 278.5 277.0 275.4 273.7 272.0 270.3 268.4 266.5 264.5 262.5 260.4 258.2 255.9 Federal Register / Vol. 72, No. 109 / Thursday, June 7, 2007 / Notices Office of Personnel Management. Linda M. Springer, Director. [FR Doc. E7–11083 Filed 6–6–07; 8:45 am] BILLING CODE 6325–38–P OFFICE OF PERSONNEL MANAGEMENT Federal Employees’ Retirement System; Normal Cost Percentages Office of Personnel Management. ACTION: Notice. rwilkins on PROD1PC63 with NOTICES AGENCY: SUMMARY: The Office of Personnel Management (OPM) is providing notice of revised normal cost percentages for employees covered by the Federal Employees’ Retirement System (FERS) Act of 1986. DATES: The revised normal cost percentages are effective at the beginning of the first pay period commencing on or after October 1, 2007. Agency appeals of the normal cost percentages must be filed no later than December 7, 2007. ADDRESSES: Send or deliver agency appeals of the normal cost percentages and requests for actuarial assumptions and data to the Board of Actuaries, care of Gregory Kissel, Manager, Office of Actuaries, Strategic Human Resources Policy Division, Office of Personnel Management, Room 4307, 1900 E Street, NW., Washington, DC 20415. FOR FURTHER INFORMATION CONTACT: Jessica Johnson, (202) 606–0299. SUPPLEMENTARY INFORMATION: The FERS Act of 1986, Public Law 99–335, created a new retirement system intended to cover most Federal employees hired after 1983. Most Federal employees hired before 1984 are under the older Civil Service Retirement System (CSRS). Section 8423 of title 5, United States Code, as added by the FERS Act of 1986, provides for the payment of the Government’s share of the cost of the retirement system under FERS. Employees’ contributions are established by law and constitute only a small fraction of the cost of funding the retirement system; employing agencies are required to pay the remaining costs. The amount of funding required, known as ‘‘normal cost,’’ is the entry age normal cost of the provisions of FERS that relate to the Civil Service Retirement and Disability Fund (Fund). The normal cost must be computed by OPM in accordance with generally accepted actuarial practices and standards (using dynamic assumptions). Subpart D of part 841 of title 5, Code of VerDate Aug<31>2005 20:59 Jun 06, 2007 Jkt 211001 Federal Regulations, regulates how normal costs are determined. Recently, the Board of Actuaries of the Civil Service Retirement System approved a revised set of economic assumptions for use in the dynamic actuarial valuations of FERS. These assumptions were adopted after the Board reviewed statistical data prepared by the OPM actuaries and considered trends that may affect future experience under the System. Based on its analysis, the Board concluded that it would be appropriate to assume a rate of investment return of 6.25 percent, with no difference from the current rate of 6.25 percent. The Board increased the anticipated inflation rate from 3.25 percent to 3.50 percent, and increased the projected rate of General Schedule salary increases from 4.00 percent to 4.25 percent. These salary increases are in addition to assumed within-grade increases that reflect past experience. The new assumptions anticipate that, over the long term, the annual rate of investment return will exceed inflation by 2.75 percent and General Schedule salary increases will exceed inflation by .75 percent a year, as compared to 3 percent and .75 percent, respectively, under the previous assumptions. In addition, the Board found changes in all the demographic assumptions listed as factors under § 841.404(a) of title 5, Code of Federal Regulations. The normal cost calculations depend on both the economic and demographic assumptions. The demographic assumptions are determined separately for each of a number of special groups, in cases where separate experience data is available. Based on the new economic assumptions and the change in the demographic assumption, OPM has determined the normal cost percentage for each category of employees under § 841.403 of title 5, Code of Federal Regulations. The Governmentwide normal cost percentages, including the employee contributions, are as follows: Members ....................................... Congressional employees ............ Law enforcement officers, members of the Supreme Court Police, firefighters, nuclear materials couriers and employees under section 302 of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees ................................ Air traffic controllers ...................... Military reserve technicians .......... PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 31631 Percent Employees under section 303 of the Central Intelligence Agency Retirement Act of 1964 for Certain Employees (when serving abroad) ...................................... All other employees ...................... 17.0 12.0 Under section 841.408 of title 5, Code of Federal Regulations, these normal cost percentages are effective at the beginning of the first pay period commencing on or after October 1, 2007. The time limit and address for filing agency appeals under sections 841.409 through 841.412 of title 5, Code of Federal Regulations, are stated in the DATES and ADDRESSES sections of this notice. Office of Personnel Management. Linda M. Springer, Director. [FR Doc. E7–11084 Filed 6–6–07; 8:45 am] BILLING CODE 6325–38–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27843; 813–306] Stephens Inc., et al.; Notice of Application May 29, 2007. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application for an order under sections 6(b) and 6(e) of the Investment Company Act of 1940 (the ‘‘Act’’) granting an exemption from all provisions of the Act, except section 9 and sections 36 through 53, and the rules and regulations under the Act. With respect to sections 17 and 30 of the Act, and the rules and regulations thereunder, and rule 38a–1 under the Act, the exemption is limited as set forth in the application. AGENCY: Applicants request an order to exempt certain limited liability companies and other entities (‘‘Companies’’) formed for the benefit of key employees of Stephens Percent Inc. (‘‘Stephens’’) and its affiliates from 18.6 certain provisions of the Act. Each 17.1 Company will be an ‘‘employees’ securities company’’ within the meaning of section 2(a)(13) of the Act. APPLICANTS: Stephens; Stephens Investment Partners 2001 LLC, Stephens Investment Partners 2001A LLC, Stephens Investment Partners 2001B 26.2 LLC, Stephens Investment Partners 25.8 2001C LLC, Stephens Investment 14.8 Partners 2003 LLC, Stephens Investment SUMMARY OF APPLICATION: E:\FR\FM\07JNN1.SGM 07JNN1

Agencies

[Federal Register Volume 72, Number 109 (Thursday, June 7, 2007)]
[Notices]
[Pages 31629-31631]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-11083]


-----------------------------------------------------------------------

OFFICE OF PERSONNEL MANAGEMENT


Federal Employees' Retirement System; Present Value Factors

AGENCY: Office of Personnel Management.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Office of Personnel Management (OPM) is providing notice 
of adjusted present value factors applicable to retirees who elect to 
provide survivor annuity benefits to a spouse based on post-retirement 
marriage, and to retiring employees who elect the alternative form of 
annuity or elect to credit certain service with nonappropriated fund 
instrumentalities. This notice is necessary to conform the present 
value factors to changes in economic assumptions and demographic 
factors adopted by the Board of Actuaries of the Civil Service 
Retirement System.

DATES: The revised present value factors apply to survivor reductions 
or employee annuities that commence on or after October 1, 2007.

ADDRESSES: Send requests for actuarial assumptions and data to the 
Office of Actuaries, Strategic Human Resources Policy Division, Office 
of Personnel Management, Room 4307, 1900 E Street, NW., Washington, DC 
20415.

FOR FURTHER INFORMATION CONTACT: Jessica Johnson, (202) 606-0299.

SUPPLEMENTARY INFORMATION: Several provisions of the Federal Employees' 
Retirement System (FERS) require reduction of annuities on an actuarial 
basis. Under each of these provisions, OPM is required to issue 
regulations on the method of determining the reduction to ensure that 
the present value of the reduced annuity plus a lump sum equals, to the 
extent practicable, the present value of the unreduced benefit. The 
regulations for each of these benefits provide that OPM will publish a 
notice in the Federal Register whenever it changes the factors used to 
compute the present values of these benefits.
    Section 842.706(a) of title 5, Code of Federal Regulations, 
prescribes the method for computing the reduction in the beginning rate 
of annuity payable to a retiree who elects an alternative form of 
annuity under 5 U.S.C. 8420a. That reduction is required to produce an 
annuity that is the actuarial equivalent of the annuity of a retiree 
who does not elect an alternative form of annuity. The present value 
factors listed below are used to compute the annuity reduction under 5 
CFR 842.706(a).
    Section 842.615 of title 5, Code of Federal Regulations, prescribes 
the use of these factors for computing the reduction required for 
certain elections to provide survivor annuity benefits based on a post-
retirement marriage or divorce under 5 U.S.C. 8416(b), 8416(c), or 
8417(b). Under section 11004 of the Omnibus Budget Reconciliation Act 
of 1993, Public Law 103-66, 107 Stat. 312, effective October 1, 1993, 
OPM ceased collection of these survivor election deposits by means of 
either a lump-sum payment or installments. Instead, OPM is required to 
establish a permanent actuarial reduction in the annuity of the 
retiree. This means that OPM must take the amount of the deposit 
computed under the old law and translate it into a lifetime reduction 
in the retiree's benefit. The reduction is based on actuarial tables, 
similar to those used for alternative forms of annuity under section 
8420a of title 5, United States Code.
    Subpart F of part 847 of title 5, Code of Federal Regulations, 
prescribes the use of similar factors for computing the

[[Page 31630]]

deficiency the retiree must pay to receive credit for certain service 
with nonappropriated fund instrumentalities made creditable by an 
election under section 1043 of Public Law 104-106, 110 Stat. 186.
    OPM published the present value factors currently in effect on 
August 30, 2004, at 69 FR 52944. Elsewhere in today's Federal Register, 
OPM published a notice to revise the normal cost percentage under the 
Federal Employees' Retirement System (FERS) Act of 1986, Public Law 99-
335, 100 Stat. 514, based on changed economic assumptions and 
demographic factors adopted by the Board of Actuaries of the Civil 
Service Retirement System. Under 5 U.S.C. 8461(i), those changed 
economic assumptions require corresponding changes in the present value 
factors used to produce actuarially equivalent benefits when required 
by the FERS Act. The revised factors will become effective in October 
2007 to correspond with the changes in FERS normal cost percentages. 
For alternative forms of annuity, the new factors will apply to 
annuities that commence on or after October 1, 2007. See 5 CFR 842.706. 
For survivor election deposits, the new factors will apply to survivor 
reductions that commence on or after October 1, 2007. See 5 CFR 
842.615(b). For obtaining credit for service with certain 
nonappropriated fund instrumentalities, the new factors will apply to 
cases in which the date of computation under 5 CFR 847.603 is on or 
after October 1, 2007. See 5 CFR 847.602(c) and 847.603.
    OPM is, therefore, revising the tables of present value factors to 
read as follows:

       Table I.--FERS Present Value Factors for Ages 62 and Older
   [Applicable to annuity payable following an election under 5 U.S.C.
  8416(b), 8416(c), 8417(b), or 8420a, or under section 1043 of Pub. L.
                                104-106]
------------------------------------------------------------------------
                                                                 Present
                              Age                                 value
                                                                 factor
------------------------------------------------------------------------
62............................................................     174.9
63............................................................     170.0
64............................................................     165.0
65............................................................     159.9
66............................................................     154.9
67............................................................     150.0
68............................................................     145.0
69............................................................     139.9
70............................................................     134.8
71............................................................     129.7
72............................................................     124.4
73............................................................     119.3
74............................................................     114.3
75............................................................     109.2
76............................................................     104.3
77............................................................      99.7
78............................................................      94.7
79............................................................      89.6
80............................................................      84.8
81............................................................      79.7
82............................................................      74.4
83............................................................      69.9
84............................................................      66.0
85............................................................      61.9
86............................................................      57.5
87............................................................      53.5
88............................................................      50.2
89............................................................      47.0
90............................................................      42.9
------------------------------------------------------------------------


     Table II.A.--FERS Present Value Factors for Ages 40 Through 61
[Applicable to annuity payable when annuity is not increased by cost-of-
  living adjustments before age 62 following an election under 5 U.S.C.
  8416(b), 8416(c), 8417(b), or 8420a, or under section 1043 of Pub. L.
                                104-106]
------------------------------------------------------------------------
                                                                 Present
                              Age                                 value
                                                                 factor
------------------------------------------------------------------------
40............................................................     185.2
41............................................................     184.9
42............................................................     184.8
43............................................................     184.7
44............................................................     184.5
45............................................................     184.2
46............................................................     183.8
47............................................................     183.4
48............................................................     183.0
49............................................................     182.3
50............................................................     181.5
51............................................................     181.2
52............................................................     180.9
53............................................................     180.5
54............................................................     179.9
55............................................................     179.3
56............................................................     178.8
57............................................................     178.4
58............................................................     178.1
59............................................................     177.9
60............................................................     177.9
61............................................................     177.7
------------------------------------------------------------------------


     Table II.B.--FERS Present Value Factors for Ages 40 Through 61
  [Applicable to annuity payable when annuity is increased by cost-of-
  living adjustments before age 62 following an election under 5 U.S.C.
 8416(b), 8416 (c), 8417(b), or 8420a, or under section 1043 of Pub. L.
                                104-106]
------------------------------------------------------------------------
                                                                 Present
                              Age                                 value
                                                                 factor
------------------------------------------------------------------------
40............................................................     252.8
41............................................................     250.4
42............................................................     247.8
43............................................................     245.1
44............................................................     242.3
45............................................................     239.5
46............................................................     236.5
47............................................................     233.4
48............................................................     230.2
49............................................................     226.9
50............................................................     223.4
51............................................................     219.8
52............................................................     216.1
53............................................................     212.2
54............................................................     208.2
55............................................................     204.1
56............................................................     199.8
57............................................................     195.4
58............................................................     190.9
59............................................................     186.3
60............................................................     181.6
61............................................................     176.8
------------------------------------------------------------------------


 Table III.--FERS Present Value Factors for Ages at Calculation Below 40
 [Applicable to annuity payable following an election under section 1043
                           of Pub. L. 104-106]
------------------------------------------------------------------------
                                                                 Present
                                                                  value
                      Age at calculation                          of a
                                                                 monthly
                                                                 annuity
------------------------------------------------------------------------
17............................................................     291.0
18............................................................     290.0
19............................................................     288.9
20............................................................     287.8
21............................................................     286.6
22............................................................     285.4
23............................................................     284.1
24............................................................     282.8
25............................................................     281.4
26............................................................     280.0
27............................................................     278.5
28............................................................     277.0
29............................................................     275.4
30............................................................     273.7
31............................................................     272.0
32............................................................     270.3
33............................................................     268.4
34............................................................     266.5
35............................................................     264.5
36............................................................     262.5
37............................................................     260.4
38............................................................     258.2
39............................................................     255.9
------------------------------------------------------------------------



[[Page 31631]]

Office of Personnel Management.
Linda M. Springer,
 Director.
 [FR Doc. E7-11083 Filed 6-6-07; 8:45 am]
BILLING CODE 6325-38-P
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