Federal Employees' Retirement System; Present Value Conversion Factors for Spouses of Deceased Separated Employees, 18159-18160 [2015-07747]
Download as PDF
<![CDATA[
18159
Proposed Rules
Federal Register
Vol. 80, No. 64
Friday, April 3, 2015
This section of the FEDERAL REGISTER
contains notices to the public of the proposed
issuance of rules and regulations. The
purpose of these notices is to give interested
persons an opportunity to participate in the
rule making prior to the adoption of the final
rules.
OFFICE OF PERSONNEL
MANAGEMENT
5 CFR Part 843
RIN 3206–AN16
Federal Employees’ Retirement
System; Present Value Conversion
Factors for Spouses of Deceased
Separated Employees
Office of Personnel
Management.
ACTION: Proposed rule.
AGENCY:
The Office of Personnel
Management (OPM) is issuing a
proposed 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. This rule is necessary to
ensure that the tables conform to
demographic assumptions adopted by
the Board of Actuaries and published in
the Federal Register on March 20, 2015,
as required by 5 U.S.C. 8461(i).
DATES: We must receive your comments
by June 2, 2015.
ADDRESSES: You may submit comments,
identified by docket number and/or RIN
number RIN 3206–AN16 by any of the
following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: combox@opm.gov. Include
RIN number 3206–AN16 in the subject
line of the message.
• Mail: Jim Giuseppe, Retirement
Policy, Retirement Services, Office of
Personnel Management, 1900 E. Street
NW., Washington, DC 20415–3200.
FOR FURTHER INFORMATION CONTACT:
Roxann Johnson, (202) 606–0299.
SUPPLEMENTARY INFORMATION: On March
20, 2015, OPM published a notice in the
Federal Register 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
asabaliauskas on DSK5VPTVN1PROD with PROPOSALS
SUMMARY:
VerDate Sep<11>2014
17:20 Apr 02, 2015
Jkt 235001
demographic factors adopted by the
Board of Actuaries of the Civil Service
Retirement System. 80 FR 15,036
(March 20, 2015). By statute under 5
U.S.C. 8461(i), the demographic factors
require corresponding changes in factors
used to produce actuarially equivalent
benefits when required by the FERS Act.
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
at 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
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
demographic assumptions.
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.
PO 00000
Frm 00001
Fmt 4702
Sfmt 4702
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.
Katherine Archuleta,
Director.
For the reasons stated in the
preamble, the Office of Personnel
Management proposes to amend 5 CFR
part 843 as follows:
PART 843—FEDERAL EMPLOYEES
RETIREMENT SYSTEM—DEATH
BENEFITS AND EMPLOYEE REFUNDS
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.
Subpart C—Current and Former
Spouse Benefits
2. Revise Appendix A to subpart C of
part 843 to read as follows:
■
Appendix A to Supart C of Part 843—
Present Value Conversion Factors for
Earlier Comencing 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
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
E:\FR\FM\03APP1.SGM
03APP1
Multiplier
.0726
.0792
.0859
.0930
.1002
.1081
.1165
.1252
.1343
.1443
.1550
.1664
.1786
.1914
.2053
.2200
.2358
.2528
.2710
.2905
.3114
.3337
.3580
18160
Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Proposed Rules
49
50
51
52
53
54
55
56
57
58
59
60
61
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
Multiplier
.3839
.4118
.4419
.4745
.5097
.5477
.5889
.6336
.6822
.7350
.7926
.8556
.9244
OFFICE OF GOVERNMENT ETHICS
A. Substantive Discussion
5 CFR Part 2600, 2601, 2604
Age of separated employee
at birthday before death
The rule proposes revisions to
standardize, update, and streamline the
language of 5 CFR parts 2600, 2601, and
2604. In addition, the proposed
revisions to 5 CFR part 2600 remove
out-of-date information regarding OGE’s
organizational structure and instead
refer individuals to its Web site for
current information. Likewise, the
proposed revisions to 5 CFR part 2601
reflect changes to OGE’s organizational
structure.
The primary purpose of the proposed
revisions to 5 CFR part 2604 is to reflect
changes to the FOIA under the
Openness Promotes Effectiveness in our
National (OPEN) Government Act of
2007, Public Law 110–175, and to
incorporate principles established by
the 2009 FOIA memorandum. OGE is
committed to operating transparently
and has been administratively adhering
to the developments in FOIA law and to
the President’s directive. Except as
noted below, the proposed revisions
reflect OGE’s existing policies and
practices.
The following is a subpart-by-subpart
analysis of the proposed changes to 5
CFR part 2604:
Subpart A—General Provisions. The
definition of ‘‘duplication’’ has been
updated in accordance with changes in
technology. The definition of
‘‘representative of the news media’’ has
been revised to incorporate amendments
to the FOIA under the OPEN
Government Act. Section 2604.104 has
been added to inform FOIA requesters
about OGE’s obligations regarding the
preservation of records. Section
2604.105 has been added to clarify that
OGE’s FOIA regulation does not create
an entitlement to additional rights or
services beyond those conferred by the
FOIA.
Subpart B—FOIA Public Reading
Room Facility and Web site; Index
Indentifying Information for the Public.
Section 2604.201(a)(2) was revised to
reflect OGE’s existing practice of
proactively identifying and posting on
its Web site records of interest to the
public, in accordance with the
principles set forth by the 2009 FOIA
memorandum. Section 2604.201(b)(5)
was revised to parallel the language of
the FOIA. After consideration, OGE
decided not to revise § 2604.202(b),
which contains a notice that the
Director of OGE has determined that it
is unnecessary and impracticable to
publish and distribute a quarterly index
of materials available under 5 U.S.C.
552(a)(2). However, OGE will consider
whether it would be feasible to publish
RIN 3209–AA40, 3209–AA41, 3209–AA39
Organization and Functions;
Implementation of Statutory Gift
Acceptance Authority; Freedom of
Information Act
AGENCY:
Office of Government Ethics
(OGE).
ACTION:
Proposed rule.
The U.S. Office of
Government Ethics is updating and
streamlining its organization and
functions regulation and its statutory
gift acceptance authority
Age of separated employee
Multiplier
at birthday before death
implementation. OGE is also updating
and streamlining its Freedom of
36 ..........................................
.1810 Information Act (FOIA) regulation to
37 ..........................................
.1943 reflect OGE’s existing policy and
38 ..........................................
.2086 practice and to implement changes to
39 ..........................................
.2236 the FOIA. Finally, the proposed
40 ..........................................
.2398
revisions make administrative changes
41 ..........................................
.2570
and update cost figures for calculating
42 ..........................................
.2754
and charging fees.
43 ..........................................
.2953
44 ..........................................
.3166 DATES: Written comments are invited
45 ..........................................
.3394 and must be received on or before June
46 ..........................................
.3638 2, 2015.
47 ..........................................
.3899 ADDRESSES: You may submit written
48 ..........................................
.4182
comments to OGE on the proposed rule
49 ..........................................
.4485
by any of the following methods:
50 ..........................................
.4812
• Email: usoge@oge.gov. Include the
51 ..........................................
.5164
52 ..........................................
.5545 appropriate Regulation Identifier
53 ..........................................
.5955 Number in the subject line of the
54 ..........................................
.6400 message.
• Fax: (202) 482–9237.
55 ..........................................
.6881
56 ..........................................
.7404
• Mail/Hand Delivery/Courier: U.S.
57 ..........................................
.7972 Office of Government Ethics, Suite 500,
58 ..........................................
.8590 1201 New York Avenue NW.,
59 ..........................................
.9264 Washington, DC 20005–3917, Attention:
Jennifer Matis, Assistant Counsel.
With at least 30 years of creditable
Instructions: All submissions must
service—
include OGE’s agency name and the
appropriate Regulation Identifier
Multiplier by separated
Number. Use RIN 3209–AA40 to submit
employee’s year of
Age of separated
comments on the proposed changes to 5
birth
employee at
CFR part 2600; RIN 3209–AA41 to
birthday
From 1950 submit comments on the proposed
before death
After 1966
through
changes to 5 CFR part 2600; and RIN
1966
3209–AA39 to submit comments on the
46 ..........................
.4561
.4910 proposed changes to 5 CFR part 2604.
47 ..........................
.4889
.5264 OGE will post all comments on its Web
48 ..........................
.5244
.5646 site (www.oge.gov). All comments
49 ..........................
.5624
.6055 received will be posted without change;
50 ..........................
.6035
.6497 OGE generally does not edit a
51 ..........................
.6476
.6973 commenter’s personal identifying
52 ..........................
.6954
.7487 information from submissions. You
53 ..........................
.7469
.8042 should submit only information that
54 ..........................
.8027
.8643 you wish to make available publicly.
55 ..........................
.8631
.9294
56 ..........................
.9287
1.0000 FOR FURTHER INFORMATION CONTACT:
Jennifer Matis, Assistant Counsel, 202–
482–9216.
[FR Doc. 2015–07747 Filed 4–2–15; 8:45 am]
BILLING CODE 6325–38–P
SUPPLEMENTARY INFORMATION:
SUMMARY:
asabaliauskas on DSK5VPTVN1PROD with PROPOSALS
With at least 20, but less than 30 years of
creditable service—
VerDate Sep<11>2014
17:20 Apr 02, 2015
Jkt 235001
PO 00000
Frm 00002
Fmt 4702
Sfmt 4702
E:\FR\FM\03APP1.SGM
03APP1
]]>Agencies
[Federal Register Volume 80, Number 64 (Friday, April 3, 2015)]
[Proposed Rules]
[Pages 18159-18160]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-07747]
========================================================================
Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
========================================================================
Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Proposed
Rules
[[Page 18159]]
=======================================================================
-----------------------------------------------------------------------
OFFICE OF PERSONNEL MANAGEMENT
5 CFR Part 843
RIN 3206-AN16
Federal Employees' Retirement System; Present Value Conversion
Factors for Spouses of Deceased Separated Employees
AGENCY: Office of Personnel Management.
ACTION: Proposed rule.
-----------------------------------------------------------------------
SUMMARY: The Office of Personnel Management (OPM) is issuing a proposed
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. This rule is necessary to ensure that the tables conform to
demographic assumptions adopted by the Board of Actuaries and published
in the Federal Register on March 20, 2015, as required by 5 U.S.C.
8461(i).
DATES: We must receive your comments by June 2, 2015.
ADDRESSES: You may submit comments, identified by docket number and/or
RIN number RIN 3206-AN16 by any of the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Email: combox@opm.gov. Include RIN number 3206-AN16 in the
subject line of the message.
Mail: Jim Giuseppe, Retirement Policy, Retirement
Services, Office of Personnel Management, 1900 E. Street NW.,
Washington, DC 20415-3200.
FOR FURTHER INFORMATION CONTACT: Roxann Johnson, (202) 606-0299.
SUPPLEMENTARY INFORMATION: On March 20, 2015, OPM published a notice in
the Federal Register 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 demographic factors adopted by
the Board of Actuaries of the Civil Service Retirement System. 80 FR
15,036 (March 20, 2015). By statute under 5 U.S.C. 8461(i), the
demographic factors require corresponding changes in factors used to
produce actuarially equivalent benefits when required by the FERS Act.
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
at 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 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 demographic assumptions.
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.
Katherine Archuleta,
Director.
For the reasons stated in the preamble, the Office of Personnel
Management proposes to amend 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. Revise Appendix A to subpart C of part 843 to read as follows:
Appendix A to Supart C of Part 843--Present Value Conversion Factors
for Earlier Comencing 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...................................................... .0726
27...................................................... .0792
28...................................................... .0859
29...................................................... .0930
30...................................................... .1002
31...................................................... .1081
32...................................................... .1165
33...................................................... .1252
34...................................................... .1343
35...................................................... .1443
36...................................................... .1550
37...................................................... .1664
38...................................................... .1786
39...................................................... .1914
40...................................................... .2053
41...................................................... .2200
42...................................................... .2358
43...................................................... .2528
44...................................................... .2710
45...................................................... .2905
46...................................................... .3114
47...................................................... .3337
48...................................................... .3580
[[Page 18160]]
49...................................................... .3839
50...................................................... .4118
51...................................................... .4419
52...................................................... .4745
53...................................................... .5097
54...................................................... .5477
55...................................................... .5889
56...................................................... .6336
57...................................................... .6822
58...................................................... .7350
59...................................................... .7926
60...................................................... .8556
61...................................................... .9244
------------------------------------------------------------------------
With at least 20, but less than 30 years of creditable service--
------------------------------------------------------------------------
Age of separated employee at birthday before death Multiplier
------------------------------------------------------------------------
36...................................................... .1810
37...................................................... .1943
38...................................................... .2086
39...................................................... .2236
40...................................................... .2398
41...................................................... .2570
42...................................................... .2754
43...................................................... .2953
44...................................................... .3166
45...................................................... .3394
46...................................................... .3638
47...................................................... .3899
48...................................................... .4182
49...................................................... .4485
50...................................................... .4812
51...................................................... .5164
52...................................................... .5545
53...................................................... .5955
54...................................................... .6400
55...................................................... .6881
56...................................................... .7404
57...................................................... .7972
58...................................................... .8590
59...................................................... .9264
------------------------------------------------------------------------
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 1950
After 1966 through
1966
------------------------------------------------------------------------
46.............................................. .4561 .4910
47.............................................. .4889 .5264
48.............................................. .5244 .5646
49.............................................. .5624 .6055
50.............................................. .6035 .6497
51.............................................. .6476 .6973
52.............................................. .6954 .7487
53.............................................. .7469 .8042
54.............................................. .8027 .8643
55.............................................. .8631 .9294
56.............................................. .9287 1.0000
------------------------------------------------------------------------
[FR Doc. 2015-07747 Filed 4-2-15; 8:45 am]
BILLING CODE 6325-38-P
