Office of Personnel Management March 2021 – Federal Register Recent Federal Regulation Documents
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Civil Service Retirement System; Present Value Factors
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; 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 of the Federal Erroneous Retirement Coverage Correction Act. 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.
2021-06325
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.
Federal Employees' Retirement System; Present Value Factors
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.
Submission for Review: Verification of Who Is Getting Payments, RI 38-107 and RI 38-147
Retirement Services, Office of Personnel Management (OPM) offers the general public and other federal agencies the opportunity to comment on an expiring information collection (ICR) with minor edits, Verification of Who is Getting Payments, RI 38-107 and RI 38-147. This ICR has been revised in the following manner: (1) The display of the OMB control number and (2) an updated edition date.
Representative Payees Under the Civil Service Retirement System and Federal Employees' Retirement System
The Office of Personnel Management (OPM) is issuing a proposed rule to promulgate regulations which administer the representative payee program authorized by statute. This proposed rule is necessary to ensure proper procedures for annuity payments due minors or individuals who are mentally incompetent or under other legal disability and are unable to manage their respective payments.
Prevailing Rate Systems; Abolishment of the Special Wage Schedules for Ship Surveyors in Puerto Rico
The Office of Personnel Management (OPM) is issuing a final rule to abolish the special wage schedule pay plan practice previously established for nonsupervisory and supervisory ship surveyor positions in Puerto Rico. The Department of the Navy no longer has such positions in Puerto Rico. This change is based on a consensus recommendation of the Federal Prevailing Rate Advisory Committee (FPRAC).
Civil Service Retirement System Board of Actuaries Meeting
The Civil Service Retirement System Board of Actuaries plans to meet on Wednesday, April 28, 2021. The meeting will start at 10:00 a.m. EDT and will be held by teleconference. The purpose of the meeting is for the Board to review the actuarial methods and assumptions used in the valuations of the Civil Service Retirement and Disability Fund (CSRDF).
Prevailing Rate Systems; Conduct of Local Wage Surveys
The Office of Personnel Management is issuing an interim final rule to amend regulations to allow for additional options to collect wage data during Federal Wage System full-scale and wage change surveys, namely, by personal visit, telephone, mail, or electronic means. This change is based on a majority recommendation of the Federal Prevailing Rate Advisory Committee and was initiated by a Department of Defense request for greater flexibility to obtain accurate and timely prevailing wage data in local labor markets during and after the national emergency caused by the COVID-19 health crisis.
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