Federal Employees' Retirement System; Present Value Conversion Factors for Spouses of Deceased Separated Employees, 52539-52540 [2011-21396]
Download as PDF
<![CDATA[
Federal Register / Vol. 76, No. 163 / Tuesday, August 23, 2011 / Rules and Regulations
OPM disagrees with the commenters’
recommendations. Employees, within
the meaning of 5 U.S.C. 5546(a), are
entitled to Sunday premium pay when
they work a ‘‘regularly scheduled’’
8 hour period of service which is not
overtime work, a part of which falls on
Sunday. OPM, by regulation, has
defined ‘‘intermittent employment’’ as
‘‘employment without a regularly
scheduled tour of duty.’’ (See 5 CFR
340.401(b)). Accordingly, employees
who are correctly classified as
intermittent employees may not receive
Sunday premium pay because, by
definition, they do not perform regularly
scheduled work.
Executive Order 13563 and Executive
Order 12866
The Office of Management and Budget
has reviewed this rule in accordance
with E.O. 13563 and 12866.
Regulatory Flexibility Act
I certify that these regulations will not
have a significant economic impact on
a substantial number of small entities
because they will apply only to Federal
agencies and employees.
List of Subjects
Administrative practice and
procedure, Freedom of information,
Government employees, Reporting and
recordkeeping requirements.
5 CFR Part 550
Administrative practice and
procedure, Claims, Government
employees, Wages.
§ 550.103
*
*
*
*
Sunday work means nonovertime
work performed by an employee during
a regularly scheduled daily tour of duty
when any part of that daily tour of duty
is on a Sunday. For any such tour of
duty, not more than 8 hours of work are
Sunday work, unless the employee is on
a compressed work schedule, in which
case the entire regularly scheduled daily
tour of duty constitutes Sunday work.
*
*
*
*
*
■ 5. In § 550.171, revise paragraph (a) to
read as follows:
Authorization of pay for Sunday
(a) An employee is entitled to pay at
his or her rate of basic pay plus
premium pay at a rate equal to 25
percent of his or her rate of basic pay
for each hour of Sunday work (as
defined in § 550.103).
*
*
*
*
*
RIN 3206–AM29
Federal Employees’ Retirement
System; Present Value Conversion
Factors for Spouses of Deceased
Separated Employees
1. The authority citation for part 532
continues to read as follows:
Authority: 5 U.S.C. 5343, 5346; § 532.707
also issued under 5 U.S.C. 552.
2. Revise § 532.509 to read as follows:
Office of Personnel
Management.
ACTION: Final rule.
AGENCY:
The Office of Personnel
Management (OPM) is issuing an
interim rule to revise the table of
reduction factors for early commencing
dates of survivor annuities for spouses
of separated employees who die before
the date on which they would be
eligible for unreduced deferred
annuities, and to revise the annuity
SUMMARY:
Pay for Sunday work.
A wage employee whose regular work
schedule includes a period of service of
up to 8 hours which is not overtime
work, a part of which is on Sunday, is
entitled to additional pay under the
provisions of section 5544 of title 5,
United States Code.
Jkt 223001
Definitions.
*
5 CFR Part 843
■
rmajette on DSK89S0YB1PROD with RULES
4. In § 550.103, revise the definition of
Sunday work to read as follows:
■
OFFICE OF PERSONNEL
MANAGEMENT
PART 532—PREVAILING RATE
SYSTEMS
14:22 Aug 22, 2011
Authority: 5 U.S.C. 5304 note, 5305 note,
5504(d), 5541(2)(iv), 5545a(h)(2)(B) and (i),
5547(b) and (c), 5548, and 6101(c); sections
407 and 2316, Pub. L. 105–277, 112 Stat.
2681–101 and 2681–828 (5 U.S.C. 5545a);
E.O. 12748, 3 CFR, 1992 Comp., p. 316.
BILLING CODE 6325–39–P
Accordingly, OPM amends 5 CFR
parts 532 and 550 as follows:
VerDate Mar<15>2010
3. The authority citation for subpart A
of part 550 continues to read as follows:
■
[FR Doc. 2011–21397 Filed 8–22–11; 8:45 am]
U.S. Office of Personnel Management.
John Berry,
Director.
§ 532.509
Subpart A—Premium Pay
§ 550.171
work.
5 CFR Part 532
■
PART 550—PAY ADMINISTRATION
(GENERAL)
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
52539
factor for spouses of deceased
employees who die in service when
those spouses elect to receive the basic
employee death benefit in 36
installments under the Federal
Employees’ Retirement System (FERS)
Act of 1986. These rules are necessary
to ensure that the tables conform to the
economic, demographic and mortality
assumptions adopted by the Board of
Actuaries and published in the Federal
Register on June 3, 2011, as required by
5 U.S.C. 8461(i).
DATES: This rule is effective August 23,
2011.
FOR FURTHER INFORMATION CONTACT:
Roxann Johnson, (202) 606–0299.
SUPPLEMENTARY INFORMATION: OPM has
published a notice in the Federal
Register at 76 FR 32242 (June 3, 2011)
to revise the normal cost percentages
under the Federal Employees’
Retirement System (FERS) Act of 1986,
Public Law 99–335, 100 Stat. 514, as
amended, based on economic
assumptions, new demographic factors
and mortality assumptions adopted by
the Board of Actuaries of the Civil
Service Retirement System. By statute
under 5 U.S.C. 8461(i), the demographic
factors, economic and mortality
assumptions require corresponding
changes in factors used to produce
actuarially equivalent benefits when
required by the FERS Act.
Section 843.309 of title 5, Code of
Federal Regulations, regulates the
payment of the basic employee death
benefit. Under 5 U.S.C. 8442(b), the
basic employee death benefit may be
paid as a lump sum or as an equivalent
benefit in 36 installments. These rules
amend 5 CFR 843.309(b)(2) to conform
the factor used to convert the lump sum
to 36-installment payments with the
revised economic assumptions.
Section 843.311 of title 5, Code of
Federal Regulations, regulates the
benefits for the survivors of separated
employees under 5 U.S.C. 8442(c). This
section provides a choice of benefits for
eligible current and former spouses. If
the current or former spouse is the
person entitled to the unexpended
balance under the order of precedence
under 5 U.S.C. 8424, he or she may elect
to receive the unexpended balance
instead of an annuity.
Alternatively, an eligible current or
former spouse may elect to receive an
annuity commencing on the day after
the employee’s death or on the deceased
separated employee’s 62nd birthday. If
the annuity commences on the deceased
separated employee’s 62nd birthday, the
annuity will equal 50 percent of the
annuity that the separated employee
would have received had he or she
E:\FR\FM\23AUR1.SGM
23AUR1
52540
Federal Register / Vol. 76, No. 163 / Tuesday, August 23, 2011 / Rules and Regulations
attained age 62. If the current or former
spouse elects the earlier commencing
date, the annuity is reduced using the
factors in Appendix A to subpart C of
part 843 to make the annuity actuarially
equivalent to the present value of the
annuity that the spouse or former
spouse would have received if the
annuity had commenced on the retiree’s
62nd birthday. These rules amend that
appendix to conform to the revised
economic assumptions.
Waiver of General Notice of Proposed
Rulemaking
Under section 553(b)(B) and (d)(3) of
title 5, United States Code, I find that
good reason exists for waiving the
general notice of proposed rulemaking
and for making these amendments
effective in less than 30 days. The
amendments made by this rule are
statutorily mandated as a result of
changes in economic assumptions that
were published on June 3, 2011.
Providing a comment period on the
result of mathematical computations
resulting from the changed economic
assumptions is unnecessary and, to the
extent that it would delay benefit
payments, is contrary to the public
interest.
Executive Order 12866, Regulatory
Review
Regulatory Flexibility Act
I certify that this regulation will not
have a significant economic impact on
a substantial number of small entities
because the regulation will only affect
retirement payments to surviving
current and former spouses of former
employees and Members who separated
from Federal service with title to a
deferred annuity.
List of Subjects in 5 CFR Part 843
rmajette on DSK89S0YB1PROD with RULES
Air traffic controllers, Disability
benefits, Firefighters, Government
employees, Law enforcement officers,
Pensions, Retirement.
U.S. Office of Personnel Management.
John Berry,
Director.
For the reasons stated in the
preamble, the Office of Personnel
Management amends 5 CFR part 843 as
follows:
14:22 Aug 22, 2011
Jkt 223001
1. The authority citation for part 843
continues to read as follows:
■
Authority: 5 U.S.C. 8461; §§ 843.205,
843.208, and 843.209 also issued under 5
U.S.C. 8424; § 843.309 also issued under 5
U.S.C. 8442; § 843.406 also issued under 5
U.S.C. 8441.
2. In § 843.309, revise paragraph (b)(2)
to read as follows:
■
§ 843.309
Basic employee death benefit.
*
*
*
*
*
(b) * * *
(2) For deaths occurring on or after
October 1, 2004, 36 equal monthly
installments of 3.01643 percent of the
amount of the basic employee death
benefit.
*
*
*
*
*
■ 3. Revise Appendix A to subpart C of
part 843 to read as follows:
Appendix A to Subpart C of Part 843—
Present Value Conversion Factors for
Earlier Commencing Date of Annuities
of Current and Former Spouses of
Diseased Separated Employees
Age of separated employee at
birthday before death
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
PO 00000
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
Frm 00008
Fmt 4700
Sfmt 9990
Age of separated employee at
birthday before death
57
58
59
60
61
Multiplier
.0581
.0620
.0687
.0723
.0807
.0869
.0933
.1013
.1086
.1186
.1273
.1376
.1474
.1612
.1737
.1877
.2026
.2192
.2365
.2550
.2757
.2987
.3222
.3488
.3767
.4079
.4410
.4776
.5176
.5609
.6081
Multiplier
..............................................
..............................................
..............................................
..............................................
..............................................
.6588
.7152
.7767
.8441
.9183
With at least 20, but less than 30 years of
creditable service—
Age of separated employee at
birthday before death
Subpart C—Current and Former
Spouse Benefits
With at least 10 but less than 20 years of
creditable service—
This rule has been reviewed by the
Office of Management and Budget in
accordance with Executive Order (E.O.)
12866, as amended by E.O. 13258 and
E.O. 13422.
VerDate Mar<15>2010
PART 843—FEDERAL EMPLOYEES
RETIREMENT SYSTEM—DEATH
BENEFITS AND EMPLOYEE REFUNDS
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
Multiplier
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
..............................................
.1516
.1636
.1756
.1915
.2066
.2233
.2410
.2606
.2811
.3032
.3279
.3549
.3829
.4143
.4475
.4843
.5235
.5669
.6139
.6652
.7208
.7811
.8476
.9203
With at least 30 years of creditable service—
Age of separated
employee at birthday
before death
46
47
48
49
50
51
52
53
54
55
56
..................................
..................................
..................................
..................................
..................................
..................................
..................................
..................................
..................................
..................................
..................................
Multiplier by separated employee’s
year of birth
After
1966
.4213
.4557
.4918
.5318
.5744
.6213
.6714
.7267
.7866
.8518
.9227
From
1950
through
1966
.4572
.4943
.5335
.5768
.6231
.6738
.7282
.7880
.8528
.9233
1.0000
[FR Doc. 2011–21396 Filed 8–22–11; 8:45 am]
BILLING CODE 6325–38–P
E:\FR\FM\23AUR1.SGM
23AUR1
]]>Agencies
[Federal Register Volume 76, Number 163 (Tuesday, August 23, 2011)]
[Rules and Regulations]
[Pages 52539-52540]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-21396]
-----------------------------------------------------------------------
OFFICE OF PERSONNEL MANAGEMENT
5 CFR Part 843
RIN 3206-AM29
Federal Employees' Retirement System; Present Value Conversion
Factors for Spouses of Deceased Separated Employees
AGENCY: Office of Personnel Management.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Office of Personnel Management (OPM) is issuing an interim
rule to revise the table of reduction factors for early commencing
dates of survivor annuities for spouses of separated employees who die
before the date on which they would be eligible for unreduced deferred
annuities, and to revise the annuity factor for spouses of deceased
employees who die in service when those spouses elect to receive the
basic employee death benefit in 36 installments under the Federal
Employees' Retirement System (FERS) Act of 1986. These rules are
necessary to ensure that the tables conform to the economic,
demographic and mortality assumptions adopted by the Board of Actuaries
and published in the Federal Register on June 3, 2011, as required by 5
U.S.C. 8461(i).
DATES: This rule is effective August 23, 2011.
FOR FURTHER INFORMATION CONTACT: Roxann Johnson, (202) 606-0299.
SUPPLEMENTARY INFORMATION: OPM has published a notice in the Federal
Register at 76 FR 32242 (June 3, 2011) to revise the normal cost
percentages under the Federal Employees' Retirement System (FERS) Act
of 1986, Public Law 99-335, 100 Stat. 514, as amended, based on
economic assumptions, new demographic factors and mortality assumptions
adopted by the Board of Actuaries of the Civil Service Retirement
System. By statute under 5 U.S.C. 8461(i), the demographic factors,
economic and mortality assumptions require corresponding changes in
factors used to produce actuarially equivalent benefits when required
by the FERS Act.
Section 843.309 of title 5, Code of Federal Regulations, regulates
the payment of the basic employee death benefit. Under 5 U.S.C.
8442(b), the basic employee death benefit may be paid as a lump sum or
as an equivalent benefit in 36 installments. These rules amend 5 CFR
843.309(b)(2) to conform the factor used to convert the lump sum to 36-
installment payments with the revised economic assumptions.
Section 843.311 of title 5, Code of Federal Regulations, regulates
the benefits for the survivors of separated employees under 5 U.S.C.
8442(c). This section provides a choice of benefits for eligible
current and former spouses. If the current or former spouse is the
person entitled to the unexpended balance under the order of precedence
under 5 U.S.C. 8424, he or she may elect to receive the unexpended
balance instead of an annuity.
Alternatively, an eligible current or former spouse may elect to
receive an annuity commencing on the day after the employee's death or
on the deceased separated employee's 62nd birthday. If the annuity
commences on the deceased separated employee's 62nd birthday, the
annuity will equal 50 percent of the annuity that the separated
employee would have received had he or she
[[Page 52540]]
attained age 62. If the current or former spouse elects the earlier
commencing date, the annuity is reduced using the factors in Appendix A
to subpart C of part 843 to make the annuity actuarially equivalent to
the present value of the annuity that the spouse or former spouse would
have received if the annuity had commenced on the retiree's 62nd
birthday. These rules amend that appendix to conform to the revised
economic assumptions.
Waiver of General Notice of Proposed Rulemaking
Under section 553(b)(B) and (d)(3) of title 5, United States Code,
I find that good reason exists for waiving the general notice of
proposed rulemaking and for making these amendments effective in less
than 30 days. The amendments made by this rule are statutorily mandated
as a result of changes in economic assumptions that were published on
June 3, 2011. Providing a comment period on the result of mathematical
computations resulting from the changed economic assumptions is
unnecessary and, to the extent that it would delay benefit payments, is
contrary to the public interest.
Executive Order 12866, Regulatory Review
This rule has been reviewed by the Office of Management and Budget
in accordance with Executive Order (E.O.) 12866, as amended by E.O.
13258 and E.O. 13422.
Regulatory Flexibility Act
I certify that this regulation will not have a significant economic
impact on a substantial number of small entities because the regulation
will only affect retirement payments to surviving current and former
spouses of former employees and Members who separated from Federal
service with title to a deferred annuity.
List of Subjects in 5 CFR Part 843
Air traffic controllers, Disability benefits, Firefighters,
Government employees, Law enforcement officers, Pensions, Retirement.
U.S. Office of Personnel Management.
John Berry,
Director.
For the reasons stated in the preamble, the Office of Personnel
Management amends 5 CFR part 843 as follows:
PART 843--FEDERAL EMPLOYEES RETIREMENT SYSTEM--DEATH BENEFITS AND
EMPLOYEE REFUNDS
0
1. The authority citation for part 843 continues to read as follows:
Authority: 5 U.S.C. 8461; Sec. Sec. 843.205, 843.208, and
843.209 also issued under 5 U.S.C. 8424; Sec. 843.309 also issued
under 5 U.S.C. 8442; Sec. 843.406 also issued under 5 U.S.C. 8441.
Subpart C--Current and Former Spouse Benefits
0
2. In Sec. 843.309, revise paragraph (b)(2) to read as follows:
Sec. 843.309 Basic employee death benefit.
* * * * *
(b) * * *
(2) For deaths occurring on or after October 1, 2004, 36 equal
monthly installments of 3.01643 percent of the amount of the basic
employee death benefit.
* * * * *
0
3. Revise Appendix A to subpart C of part 843 to read as follows:
Appendix A to Subpart C of Part 843--Present Value Conversion Factors
for Earlier Commencing Date of Annuities of Current and Former Spouses
of Diseased Separated Employees
With at least 10 but less than 20 years of creditable service--
------------------------------------------------------------------------
Age of separated employee at birthday before death Multiplier
------------------------------------------------------------------------
26......................................................... .0581
27......................................................... .0620
28......................................................... .0687
29......................................................... .0723
30......................................................... .0807
31......................................................... .0869
32......................................................... .0933
33......................................................... .1013
34......................................................... .1086
35......................................................... .1186
36......................................................... .1273
37......................................................... .1376
38......................................................... .1474
39......................................................... .1612
40......................................................... .1737
41......................................................... .1877
42......................................................... .2026
43......................................................... .2192
44......................................................... .2365
45......................................................... .2550
46......................................................... .2757
47......................................................... .2987
48......................................................... .3222
49......................................................... .3488
50......................................................... .3767
51......................................................... .4079
52......................................................... .4410
53......................................................... .4776
54......................................................... .5176
55......................................................... .5609
56......................................................... .6081
57......................................................... .6588
58......................................................... .7152
59......................................................... .7767
60......................................................... .8441
61......................................................... .9183
------------------------------------------------------------------------
With at least 20, but less than 30 years of creditable service--
------------------------------------------------------------------------
Age of separated employee at birthday before death Multiplier
------------------------------------------------------------------------
36......................................................... .1516
37......................................................... .1636
38......................................................... .1756
39......................................................... .1915
40......................................................... .2066
41......................................................... .2233
42......................................................... .2410
43......................................................... .2606
44......................................................... .2811
45......................................................... .3032
46......................................................... .3279
47......................................................... .3549
48......................................................... .3829
49......................................................... .4143
50......................................................... .4475
51......................................................... .4843
52......................................................... .5235
53......................................................... .5669
54......................................................... .6139
55......................................................... .6652
56......................................................... .7208
57......................................................... .7811
58......................................................... .8476
59......................................................... .9203
------------------------------------------------------------------------
With at least 30 years of creditable service--
------------------------------------------------------------------------
Multiplier by
separated
employee's year of
birth
Age of separated employee at birthday before death -------------------
From
After 1950
1966 through
1966
------------------------------------------------------------------------
46.................................................. .4213 .4572
47.................................................. .4557 .4943
48.................................................. .4918 .5335
49.................................................. .5318 .5768
50.................................................. .5744 .6231
51.................................................. .6213 .6738
52.................................................. .6714 .7282
53.................................................. .7267 .7880
54.................................................. .7866 .8528
55.................................................. .8518 .9233
56.................................................. .9227 1.0000
------------------------------------------------------------------------
[FR Doc. 2011-21396 Filed 8-22-11; 8:45 am]
BILLING CODE 6325-38-P
