Federal Employees' Retirement System; Present Value Factors, 23109-23111 [2023-07878]
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23109
Federal Register / Vol. 88, No. 72 / Friday, April 14, 2023 / Notices
With regard to the economic
assumptions described under section
841.402 of title 5, Code of Federal
Regulations, used in the actuarial
valuations of FERS, the Board
concluded that the long-term economic
assumptions should remain unchanged
from what was determined at the
Board’s meeting on April 2, 2020. The
long-term economic assumptions
continue to be a rate of investment
return of 4.0 percent; assumed inflation
rate of 2.40 percent; the assumed rate of
FERS annuitant Cost of Living
Adjustments should remain at 80
percent of the assumed rate of inflation;
and the projected rate of General
Schedule salary increases should
remain at 2.65 percent. The general
salary increases are in addition to
assumed merit salary increases. These
assumptions are intended to reflect the
long term expected future experience of
the Systems.
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 demographic
and economic assumptions described
above, OPM has determined the normal
cost percentage for each category of
employees under section 841.403 of title
5, Code of Federal Regulations.
Section 5001 of Public Law 112–96,
The Middle Class Tax Relief and Jobs
Creation Act of 2012, established
provisions for FERS Revised Annuity
Employees (FERS–RAE). The law
permanently increases the retirement
contributions by 2.30 percent of pay for
these employees. Subsequently, Section
401 of Public Law 113–67, the
Bipartisan Budget Act of 2013, created
another class of FERS coverage, FERSFurther Revised Annuity Employee
(FERS–FRAE). Employees subject to
FERS–FRAE must pay an increase of
1.30 percent of pay above the retirement
contribution percentage set for FERS–
RAE. Separate normal cost percentages
apply for employees covered under
FERS–RAE and for employees covered
under FERS–FRAE.
The normal cost percentages for each
category of employee, including the
employee contributions, are as follows:
NORMAL COST PERCENTAGES FOR FERS, FERS—REVISED ANNUITY EMPLOYEE (RAE), AND FERS—FURTHER REVISED
ANNUITY (FRAE) GROUPS
FERS normal
cost
(percent)
Group
Members ......................................................................................................................................
Capitol Police covered under 5 U.S.C. 8412(d) and 5 U.S.C. 8425(c) ......................................
Other Congressional employees .................................................................................................
Law enforcement officers, members of the Supreme Court Police, firefighters, nuclear materials couriers, customs and border protection officers, and employees under section 302 of
the Central Intelligence Agency Retirement Act of 1964 for certain employees ....................
Air traffic controllers .....................................................................................................................
Military reserve technicians .........................................................................................................
Employees under section 303 of the Central Intelligence Agency Retirement Act of 1964 for
certain employees (when serving abroad) ...............................................................................
Other employees of the United States Postal Service ................................................................
All other regular FERS employees ..............................................................................................
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, 2023.
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.
Stephen Hickman,
Federal Register Liaison.
[FR Doc. 2023–07876 Filed 4–13–23; 8:45 am]
ddrumheller on DSK120RN23PROD with NOTICES1
BILLING CODE 6325–38–P
The revised present value factors
apply to survivor reductions or
employee annuities that commence on
or after October 1, 2023.
DATES:
OFFICE OF PERSONNEL
MANAGEMENT
Office of Personnel
Management.
AGENCY:
Notice.
VerDate Sep<11>2014
17:45 Apr 13, 2023
Send requests for actuarial
assumptions and data to the Board of
Actuaries, care of Gregory Kissel, Senior
Actuary, Office of Healthcare and
Insurance, Office of Personnel
Management, Room 4316, 1900 E Street
NW, Washington, DC 20415, or by email
to actuary@opm.gov.
ADDRESSES:
Federal Employees’ Retirement
System; Present Value Factors
ACTION:
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 the
economic and demographic
assumptions adopted by the Board of
Actuaries of the Civil Service
Retirement System.
SUMMARY:
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Sfmt 4703
FERS–RAE
normal cost
(percent)
FERS–FRAE
normal cost
(percent)
26.3
39.5
27.0
19.6
40.0
19.6
19.9
40.2
19.9
39.5
40.4
21.4
40.0
40.9
21.8
40.2
41.2
22.1
27.0
16.9
19.2
27.5
17.3
19.6
27.8
17.6
19.9
FOR FURTHER INFORMATION CONTACT:
Karla Yeakle, (202) 606–0299.
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
SUPPLEMENTARY INFORMATION:
E:\FR\FM\14APN1.SGM
14APN1
ddrumheller on DSK120RN23PROD with NOTICES1
23110
Federal Register / Vol. 88, No. 72 / Friday, April 14, 2023 / Notices
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, 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.
Subpart F of part 847 of title 5, Code
of Federal Regulations, prescribes the
use of present value 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. Subpart I of part 847 of
title 5, Code of Federal Regulations,
prescribes the use of present value
factors for employees that elect to credit
nonappropriated fund instrumentality
service to qualify for immediate
retirement under section 1132 of Public
Law 107–107.
OPM published the present value
factors currently in effect on March 29,
2021, at 86 FR 16398. On April 14,
2023, 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 assumptions adopted
by the Board of Actuaries of the Civil
Service Retirement System. Under 5
U.S.C. 8461(i), those changes 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 on October 1, 2023, 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, 2023. See 5 CFR
842.706. For survivor election deposits,
the new factors will apply to survivor
reductions that commence on or after
October 1, 2023. 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
VerDate Sep<11>2014
17:45 Apr 13, 2023
Jkt 259001
computation under 5 CFR 847.603 or
847.809 is on or after October 1, 2023.
See 5 CFR 842.602, 842.616, 847.603,
and § 847.809.
OPM is, therefore, revising the tables
of present value factors to read as
follows:
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), § 8420a,
under section 1043 of Public Law 104–106,
or under section 1132 of Public Law 107–
107]
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), § 8420a, under section 1043 of
Public Law 104–106, or under section 1132
of Public Law 107–107]
Present
value factor
Age
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 ..........................................
91 ..........................................
92 ..........................................
93 ..........................................
94 ..........................................
95 ..........................................
96 ..........................................
97 ..........................................
98 ..........................................
99 ..........................................
100 ........................................
101 ........................................
102 ........................................
103 ........................................
104 ........................................
105 ........................................
106 ........................................
107 ........................................
108 ........................................
109 ........................................
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Frm 00115
Fmt 4703
Sfmt 4703
226.5
219.9
213.2
206.4
199.6
192.7
185.8
178.9
171.9
165.0
158.1
151.2
144.3
137.5
130.8
124.2
117.7
111.3
105.0
98.8
92.9
87.1
81.5
76.1
71.0
66.0
61.3
56.8
52.6
48.7
45.1
41.8
38.8
36.1
33.6
31.4
29.4
27.7
26.2
24.8
23.5
22.2
20.8
19.3
17.3
14.4
9.5
6.4
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
271.7
270.3
268.7
267.1
265.4
263.7
261.8
259.9
257.9
255.9
253.9
251.9
249.7
247.6
245.4
243.1
240.8
238.5
236.1
233.8
231.4
229.0
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, under section 1043 of Public Law
104–106, or under section 1132 of Public
Law 107–107]
Age
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
E:\FR\FM\14APN1.SGM
14APN1
Present
value factor
355.7
350.7
345.7
340.5
335.3
329.9
324.4
318.7
313.0
307.3
301.5
295.7
289.7
283.7
277.6
271.4
265.2
258.9
252.6
246.1
239.7
233.1
Federal Register / Vol. 88, No. 72 / Friday, April 14, 2023 / Notices
of the Federal Erroneous Retirement
TABLE III—FERS PRESENT VALUE
FACTORS FOR AGES AT CALCULA- Coverage Correction Act. This notice is
necessary to conform the present value
TION BELOW 40
[Applicable to annuity payable following an
election under section 1043 of Public Law
104–106 or under section 1132 of Public
Law 107–107]
Present
value of a
monthly
annuity
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
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
..........................................
443.3
440.3
437.2
434.1
431.0
427.7
424.4
421.0
417.6
414.1
410.5
406.8
403.0
399.2
395.2
391.2
387.1
382.9
378.6
374.2
369.7
365.2
360.5
Office of Personnel Management.
Stephen Hickman,
Federal Register Liaison.
[FR Doc. 2023–07878 Filed 4–13–23; 8:45 am]
BILLING CODE 6325–38–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
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; to retiring
employees who elect the alternative
form of annuity, owe certain redeposits
based on refunds of contributions for
service ending before March 1, 1991, or
elect to credit certain service with
nonappropriated fund instrumentalities;
or, for individuals with certain types of
retirement coverage errors who can elect
to receive credit for service by taking an
actuarial reduction under the provisions
ddrumheller on DSK120RN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
17:45 Apr 13, 2023
Jkt 259001
factors to changes in the economic and
demographic assumptions adopted by
the Board of Actuaries of the Civil
Service Retirement System.
DATES: Applicable Date: The revised
present value factors apply to survivor
reductions or employee annuities that
commence on or after October 1, 2023.
ADDRESSES: Send requests for actuarial
assumptions and data to the Board of
Actuaries, care of Gregory Kissel, Senior
Actuary, Office of Healthcare and
Insurance, Office of Personnel
Management, Room 4316, 1900 E Street
NW, Washington, DC 20415, or by email
to actuary@opm.gov.
FOR FURTHER INFORMATION CONTACT:
Karla Yeakle, (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
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
PO 00000
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Fmt 4703
Sfmt 4703
23111
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.
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.
Subpart I of part 847 of title 5, Code of
Federal Regulations, prescribes the use
of present value factors for employees
that elect to credit nonappropriated
fund instrumentality service to qualify
for immediate retirement under section
1132 of Public Law 107–107.
Sections 839.1114–1121 of title 5,
Code of Federal Regulations, prescribes
the use of these factors for computing
the reduction required for certain
service credit deposits, Government
Thrift Savings Plan contributions, or for
previous payment of the FERS Basic
Employee Death Benefit in annuities
subject to the Federal Erroneous
Retirement Coverage Corrections Act
(FERCCA) under the provisions of
Public Law 106–265. Retirees and
survivors who owe a larger deposit
because of a retirement coverage error
can choose to pay the additional deposit
amount or their annuity will be
actuarially reduced to account for the
deposit amount that remains unpaid.
Additionally, retirees and survivors of
deceased employees who received
Government contributions to their Thrift
Savings Plan account after being
corrected to FERS and who later elect
CSRS Offset under FERCCA keep the
Government contributions and
associated earnings in their Thrift
Savings Plan account. Instead of
adjusting the Thrift Savings Plan
account, FERCCA requires that the
CSRS-Offset annuity be actuarially
reduced. Also, survivors that received
the FERS Basic Employee Death Benefit
and elect CSRS Offset under FERCCA
do not have to pay back the Basic
Employee Death Benefit. Instead, OPM
actuarially reduces the survivor annuity
payable. These reductions under
FERCCA allow the annuity to be
actuarially reduced in a way that, on
E:\FR\FM\14APN1.SGM
14APN1
]]>Agencies
[Federal Register Volume 88, Number 72 (Friday, April 14, 2023)]
[Notices]
[Pages 23109-23111]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-07878]
-----------------------------------------------------------------------
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 the economic and demographic assumptions
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, 2023.
ADDRESSES: Send requests for actuarial assumptions and data to the
Board of Actuaries, care of Gregory Kissel, Senior Actuary, Office of
Healthcare and Insurance, Office of Personnel Management, Room 4316,
1900 E Street NW, Washington, DC 20415, or by email to [email protected].
FOR FURTHER INFORMATION CONTACT: Karla Yeakle, (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
[[Page 23110]]
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, 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.
Subpart F of part 847 of title 5, Code of Federal Regulations,
prescribes the use of present value 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. Subpart I of part
847 of title 5, Code of Federal Regulations, prescribes the use of
present value factors for employees that elect to credit
nonappropriated fund instrumentality service to qualify for immediate
retirement under section 1132 of Public Law 107-107.
OPM published the present value factors currently in effect on
March 29, 2021, at 86 FR 16398. On April 14, 2023, 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 assumptions adopted by the Board of Actuaries of the
Civil Service Retirement System. Under 5 U.S.C. 8461(i), those changes
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 on October 1, 2023, 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, 2023. See 5 CFR 842.706. For
survivor election deposits, the new factors will apply to survivor
reductions that commence on or after October 1, 2023. 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 or 847.809
is on or after October 1, 2023. See 5 CFR 842.602, 842.616, 847.603,
and Sec. 847.809.
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), Sec. 8420a, under section 1043 of Public
Law 104-106, or under section 1132 of Public Law 107-107]
------------------------------------------------------------------------
Present value
Age factor
------------------------------------------------------------------------
62...................................................... 226.5
63...................................................... 219.9
64...................................................... 213.2
65...................................................... 206.4
66...................................................... 199.6
67...................................................... 192.7
68...................................................... 185.8
69...................................................... 178.9
70...................................................... 171.9
71...................................................... 165.0
72...................................................... 158.1
73...................................................... 151.2
74...................................................... 144.3
75...................................................... 137.5
76...................................................... 130.8
77...................................................... 124.2
78...................................................... 117.7
79...................................................... 111.3
80...................................................... 105.0
81...................................................... 98.8
82...................................................... 92.9
83...................................................... 87.1
84...................................................... 81.5
85...................................................... 76.1
86...................................................... 71.0
87...................................................... 66.0
88...................................................... 61.3
89...................................................... 56.8
90...................................................... 52.6
91...................................................... 48.7
92...................................................... 45.1
93...................................................... 41.8
94...................................................... 38.8
95...................................................... 36.1
96...................................................... 33.6
97...................................................... 31.4
98...................................................... 29.4
99...................................................... 27.7
100..................................................... 26.2
101..................................................... 24.8
102..................................................... 23.5
103..................................................... 22.2
104..................................................... 20.8
105..................................................... 19.3
106..................................................... 17.3
107..................................................... 14.4
108..................................................... 9.5
109..................................................... 6.4
------------------------------------------------------------------------
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), Sec. 8420a, under section 1043 of Public
Law 104-106, or under section 1132 of Public Law 107-107]
------------------------------------------------------------------------
Present value
Age factor
------------------------------------------------------------------------
40...................................................... 271.7
41...................................................... 270.3
42...................................................... 268.7
43...................................................... 267.1
44...................................................... 265.4
45...................................................... 263.7
46...................................................... 261.8
47...................................................... 259.9
48...................................................... 257.9
49...................................................... 255.9
50...................................................... 253.9
51...................................................... 251.9
52...................................................... 249.7
53...................................................... 247.6
54...................................................... 245.4
55...................................................... 243.1
56...................................................... 240.8
57...................................................... 238.5
58...................................................... 236.1
59...................................................... 233.8
60...................................................... 231.4
61...................................................... 229.0
------------------------------------------------------------------------
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 Sec. 8420a, under section 1043 of Public
Law 104-106, or under section 1132 of Public Law 107-107]
------------------------------------------------------------------------
Present value
Age factor
------------------------------------------------------------------------
40...................................................... 355.7
41...................................................... 350.7
42...................................................... 345.7
43...................................................... 340.5
44...................................................... 335.3
45...................................................... 329.9
46...................................................... 324.4
47...................................................... 318.7
48...................................................... 313.0
49...................................................... 307.3
50...................................................... 301.5
51...................................................... 295.7
52...................................................... 289.7
53...................................................... 283.7
54...................................................... 277.6
55...................................................... 271.4
56...................................................... 265.2
57...................................................... 258.9
58...................................................... 252.6
59...................................................... 246.1
60...................................................... 239.7
61...................................................... 233.1
------------------------------------------------------------------------
[[Page 23111]]
Table III--FERS Present Value Factors for Ages at Calculation Below 40
[Applicable to annuity payable following an election under section 1043
of Public Law 104-106 or under section 1132 of Public Law 107-107]
------------------------------------------------------------------------
Present value
Age at calculation of a monthly
annuity
------------------------------------------------------------------------
17...................................................... 443.3
18...................................................... 440.3
19...................................................... 437.2
20...................................................... 434.1
21...................................................... 431.0
22...................................................... 427.7
23...................................................... 424.4
24...................................................... 421.0
25...................................................... 417.6
26...................................................... 414.1
27...................................................... 410.5
28...................................................... 406.8
29...................................................... 403.0
30...................................................... 399.2
31...................................................... 395.2
32...................................................... 391.2
33...................................................... 387.1
34...................................................... 382.9
35...................................................... 378.6
36...................................................... 374.2
37...................................................... 369.7
38...................................................... 365.2
39...................................................... 360.5
------------------------------------------------------------------------
Office of Personnel Management.
Stephen Hickman,
Federal Register Liaison.
[FR Doc. 2023-07878 Filed 4-13-23; 8:45 am]
BILLING CODE 6325-38-P
