Civil Service Retirement System; Present Value Factors, 32241-32242 [2011-13708]
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Federal Register / Vol. 76, No. 107 / Friday, June 3, 2011 / Notices
were published in the Federal Register
on October 21, 2010, (75 FR 65038–
65039).
Detailed meeting agendas and meeting
transcripts are available on the NRC
Web site at https://www.nrc.gov/readingrm/doc-collections/acrs. Information
regarding topics to be discussed,
changes to the agenda, whether the
meeting has been canceled or
rescheduled, and the time allotted to
present oral statements can be obtained
from the website cited above or by
contacting the identified DFO.
Moreover, in view of the possibility that
the schedule for ACRS meetings may be
adjusted by the Chairman as necessary
to facilitate the conduct of the meeting,
persons planning to attend should check
with these references if such
rescheduling would result in a major
inconvenience.
If attending this meeting, please
contact Ms. Jessie Delgado (Telephone
301–415–7360) to be escorted to the
meeting room.
Dated: May 27, 2011.
Yoira Diaz-Sanabria,
Acting Chief, Reactor Safety Branch B,
Advisory Committee on Reactor Safeguards.
[FR Doc. 2011–13796 Filed 6–2–11; 8:45 am]
BILLING CODE 7590–01–P
NUCLEAR REGULATORY
COMMISSION
jlentini on DSK4TPTVN1PROD with NOTICES
Advisory Committee on Reactor
Safeguards (ACRS); Meeting of the
ACRS Subcommittee on Planning and
Procedures; Notice of Meeting
The ACRS Subcommittee on Planning
and Procedures will hold a meeting on
June 6, 2011, Room T–2B3, 11545
Rockville Pike, Rockville, Maryland.
The entire meeting will be open to
public attendance, with the exception of
a portion that may be closed pursuant
to 5 U.S.C. 552b (c)(2) and (6) to discuss
organizational and personnel matters
that relate solely to the internal
personnel rules and practices of the
ACRS, and information the release of
which would constitute a clearly
unwarranted invasion of personal
privacy.
The agenda for the subject meeting
shall be as follows:
Monday, June 6, 2011–2 p.m. until 3
p.m.
The Subcommittee will discuss
proposed ACRS activities and related
matters. The Subcommittee will gather
information, analyze relevant issues and
facts, and formulate proposed positions
and actions, as appropriate, for
deliberation by the Full Committee.
Members of the public desiring to
VerDate Mar<15>2010
15:49 Jun 02, 2011
Jkt 223001
provide oral statements and/or written
comments should notify the Designated
Federal Official (DFO), Mrs. Ilka Berrios
(Telephone 301–415–3179 or E-mail:
Ilka.Berrios@nrc.gov) five days prior to
the meeting, if possible, so that
appropriate arrangements can be made.
Thirty-five hard copies of each
presentation or handout should be
provided to the DFO thirty minutes
before the meeting. In addition, one
electronic copy of each presentation
should be emailed to the DFO one day
before the meeting. If an electronic copy
cannot be provided within this
timeframe, presenters should provide
the DFO with a CD containing each
presentation at least thirty minutes
before the meeting. Electronic
recordings will be permitted only
during those portions of the meeting
that are open to the public. Detailed
procedures for the conduct of and
participation in ACRS meetings were
published in the Federal Register on
October 21, 2010, (75 FR 65038–65039).
Detailed meeting agendas and meeting
transcripts are available on the NRC
Web site at https://www.nrc.gov/readingrm/doc-collections/acrs. Information
regarding topics to be discussed,
changes to the agenda, whether the
meeting has been canceled or
rescheduled, and the time allotted to
present oral statements can be obtained
from the Web site cited above or by
contacting the identified DFO.
Moreover, in view of the possibility that
the schedule for ACRS meetings may be
adjusted by the Chairman as necessary
to facilitate the conduct of the meeting,
persons planning to attend should check
with these references if such
rescheduling would result in a major
inconvenience.
If attending this meeting, please
contact Ms. Jessie Delgado (Telephone
301–415–7360) to be escorted to the
meeting room.
Dated: May 26, 2011.
Yoira Diaz-Sanabria,
Acting Chief, Reactor Safety Branch B,
Advisory Committee on Reactor Safeguards.
[FR Doc. 2011–13803 Filed 6–2–11; 8:45 am]
BILLING CODE 7590–01–P
OFFICE OF PERSONNEL
MANAGEMENT
Civil Service Retirement System;
Present Value Factors
Office of Personnel
Management.
ACTION: Notice.
AGENCY:
The Office of Personnel
Management (OPM) is providing notice
SUMMARY:
PO 00000
Frm 00107
Fmt 4703
Sfmt 4703
32241
of adjusted present value factors
applicable to retirees under the Civil
Service Retirement System (CSRS) who
elect to provide survivor annuity
benefits to a spouse based on postretirement marriage and to retiring
employees who elect the alternative
form of annuity, owe certain redeposits
based on refunds of contributions for
service before March 1, 1991, or elect to
credit certain service with
nonappropriated fund instrumentalities.
This notice is necessary to conform the
present value factors to changes in the
economic assumptions adopted by the
Board of Actuaries of the Civil Service
Retirement System.
DATES: Effective Date: The revised
present value factors apply to survivor
reductions or employee annuities that
commence on or after October 1, 2011.
ADDRESSES: Send requests for actuarial
assumptions and data to the Board of
Actuaries, care of Gregory Kissel,
Actuary, Office of Planning and Policy
Analysis, Office of Personnel
Management, Room 4307, 1900 E Street,
NW., Washington, DC 20415.
FOR FURTHER INFORMATION CONTACT:
Kristine Prentice, (202) 606–0299.
SUPPLEMENTARY INFORMATION: Several
provisions of CSRS 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 831.2205(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. 8343a. 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 section 831.2205(a) of title 5,
Code of Federal Regulations.
Section 831.303(c) of title 5, Code of
Federal Regulations, prescribes the use
of these factors for computing the
reduction to complete payment of
certain redeposits of refunded
deductions based on periods of service
that ended before March 1, 1991, under
section 8334(d)(2) of title 5, United
E:\FR\FM\03JNN1.SGM
03JNN1
jlentini on DSK4TPTVN1PROD with NOTICES
32242
Federal Register / Vol. 76, No. 107 / Friday, June 3, 2011 / Notices
States Code; section 1902 of the
National Defense Authorization Act for
Fiscal Year 2010, Public Law 111–84.
Section 831.663 of Title 5, Code of
Federal Regulations, prescribes the use
of similar factors for computing the
reduction required for certain elections
to provide survivor annuity benefits
based on a post-retirement marriage
under section 8339(j)(5)(C) or (k)(2) of
title 5, United States Code. Under
section 11004 of the Omnibus Budget
Reconciliation Act of 1993, Public Law
103–66, 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 8343a 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
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.
The present value factors currently in
effect were published by OPM (75 FR
35093) on June 21, 2010. 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, based
on changed economic assumptions
adopted by the Board of Actuaries of the
CSRS. Those changes require
corresponding changes in CSRS normal
costs and present value factors used to
produce actuarially equivalent benefits
when required by the Civil Service
Retirement Act. The revised factors will
become effective on October 1, 2011, to
correspond with the changes in CSRS
normal cost percentages. For alternative
forms of annuity and redeposits of
employee contributions, the new factors
will apply to annuities that commence
on or after October 1, 2011. See 5 CFR
831.2205 and 831.303(c). For survivor
election deposits, the new factors will
apply to survivor reductions that
commence on or after October 1, 2010.
See 5 CFR 831.663(c) and (d). For
obtaining credit for service with certain
nonappropriated fund instrumentalities,
the new factors will apply to cases in
which the date of computation under
section 847.603 of title 5, Code of
VerDate Mar<15>2010
15:49 Jun 02, 2011
Jkt 223001
Federal Regulations, is on or after
October 1, 2011. See 5 CFR 847.602(c)
and 847.603.
OPM is, therefore, revising the tables
of present value factors to read as
follows:
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
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
PO 00000
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Frm 00108
Fmt 4703
Sfmt 4703
288.1
285.0
281.9
278.6
275.1
271.6
267.9
264.2
260.3
256.8
253.1
248.9
244.7
240.3
235.5
230.7
225.7
220.4
215.2
209.9
204.6
199.0
193.3
187.7
182.0
176.2
170.5
164.6
158.9
153.2
147.5
141.7
135.7
129.9
124.0
118.1
112.2
106.6
101.2
95.9
89.9
84.2
79.2
74.4
69.7
64.8
60.3
56.1
51.8
47.6
44.3
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
..........................................
..........................................
..........................................
..........................................
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339.0
337.5
335.9
334.2
332.5
330.8
329.0
327.1
325.2
323.2
321.1
319.0
316.9
314.6
312.4
310.0
307.6
305.0
302.4
299.8
297.0
294.2
291.2
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2011–13708 Filed 6–2–11; 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.
AGENCY:
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, 2011.
Agency appeals of the normal cost
percentages must be filed no later than
December 5, 2011.
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, Actuary, Office of
SUMMARY:
E:\FR\FM\03JNN1.SGM
03JNN1
]]>Agencies
[Federal Register Volume 76, Number 107 (Friday, June 3, 2011)]
[Notices]
[Pages 32241-32242]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-13708]
=======================================================================
-----------------------------------------------------------------------
OFFICE OF PERSONNEL MANAGEMENT
Civil Service 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 under the
Civil Service Retirement System (CSRS) 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, owe
certain redeposits based on refunds of contributions for service before
March 1, 1991, or elect to credit certain service with nonappropriated
fund instrumentalities. This notice is necessary to conform the present
value factors to changes in the economic assumptions adopted by the
Board of Actuaries of the Civil Service Retirement System.
DATES: Effective Date: The revised present value factors apply to
survivor reductions or employee annuities that commence on or after
October 1, 2011.
ADDRESSES: Send requests for actuarial assumptions and data to the
Board of Actuaries, care of Gregory Kissel, Actuary, Office of Planning
and Policy Analysis, Office of Personnel Management, Room 4307, 1900 E
Street, NW., Washington, DC 20415.
FOR FURTHER INFORMATION CONTACT: Kristine Prentice, (202) 606-0299.
SUPPLEMENTARY INFORMATION: Several provisions of CSRS 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 831.2205(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. 8343a. 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
section 831.2205(a) of title 5, Code of Federal Regulations.
Section 831.303(c) of title 5, Code of Federal Regulations,
prescribes the use of these factors for computing the reduction to
complete payment of certain redeposits of refunded deductions based on
periods of service that ended before March 1, 1991, under section
8334(d)(2) of title 5, United
[[Page 32242]]
States Code; section 1902 of the National Defense Authorization Act for
Fiscal Year 2010, Public Law 111-84.
Section 831.663 of Title 5, Code of Federal Regulations, prescribes
the use of similar factors for computing the reduction required for
certain elections to provide survivor annuity benefits based on a post-
retirement marriage under section 8339(j)(5)(C) or (k)(2) of title 5,
United States Code. Under section 11004 of the Omnibus Budget
Reconciliation Act of 1993, Public Law 103-66, 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
8343a 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 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.
The present value factors currently in effect were published by OPM
(75 FR 35093) on June 21, 2010. 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, based on changed economic assumptions adopted by the Board of
Actuaries of the CSRS. Those changes require corresponding changes in
CSRS normal costs and present value factors used to produce actuarially
equivalent benefits when required by the Civil Service Retirement Act.
The revised factors will become effective on October 1, 2011, to
correspond with the changes in CSRS normal cost percentages. For
alternative forms of annuity and redeposits of employee contributions,
the new factors will apply to annuities that commence on or after
October 1, 2011. See 5 CFR 831.2205 and 831.303(c). For survivor
election deposits, the new factors will apply to survivor reductions
that commence on or after October 1, 2010. See 5 CFR 831.663(c) and
(d). For obtaining credit for service with certain nonappropriated fund
instrumentalities, the new factors will apply to cases in which the
date of computation under section 847.603 of title 5, Code of Federal
Regulations, is on or after October 1, 2011. See 5 CFR 847.602(c) and
847.603.
OPM is, therefore, revising the tables of present value factors to
read as follows:
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
Age factor
------------------------------------------------------------------------
40...................................................... 288.1
41...................................................... 285.0
42...................................................... 281.9
43...................................................... 278.6
44...................................................... 275.1
45...................................................... 271.6
46...................................................... 267.9
47...................................................... 264.2
48...................................................... 260.3
49...................................................... 256.8
50...................................................... 253.1
51...................................................... 248.9
52...................................................... 244.7
53...................................................... 240.3
54...................................................... 235.5
55...................................................... 230.7
56...................................................... 225.7
57...................................................... 220.4
58...................................................... 215.2
59...................................................... 209.9
60...................................................... 204.6
61...................................................... 199.0
62...................................................... 193.3
63...................................................... 187.7
64...................................................... 182.0
65...................................................... 176.2
66...................................................... 170.5
67...................................................... 164.6
68...................................................... 158.9
69...................................................... 153.2
70...................................................... 147.5
71...................................................... 141.7
72...................................................... 135.7
73...................................................... 129.9
74...................................................... 124.0
75...................................................... 118.1
76...................................................... 112.2
77...................................................... 106.6
78...................................................... 101.2
79...................................................... 95.9
80...................................................... 89.9
81...................................................... 84.2
82...................................................... 79.2
83...................................................... 74.4
84...................................................... 69.7
85...................................................... 64.8
86...................................................... 60.3
87...................................................... 56.1
88...................................................... 51.8
89...................................................... 47.6
90...................................................... 44.3
------------------------------------------------------------------------
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)
------------------------------------------------------------------------
Present value
Age at calculation of a monthly
annuity
------------------------------------------------------------------------
17...................................................... 339.0
18...................................................... 337.5
19...................................................... 335.9
20...................................................... 334.2
21...................................................... 332.5
22...................................................... 330.8
23...................................................... 329.0
24...................................................... 327.1
25...................................................... 325.2
26...................................................... 323.2
27...................................................... 321.1
28...................................................... 319.0
29...................................................... 316.9
30...................................................... 314.6
31...................................................... 312.4
32...................................................... 310.0
33...................................................... 307.6
34...................................................... 305.0
35...................................................... 302.4
36...................................................... 299.8
37...................................................... 297.0
38...................................................... 294.2
39...................................................... 291.2
------------------------------------------------------------------------
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2011-13708 Filed 6-2-11; 8:45 am]
BILLING CODE 6325-38-P
