Attachment 2 

Crediting Service with a DoD or Coast Guard NAF for CSRS or FERS 

Immediate Retirement Under Public Law 107-107 

COMPUTING ANNUITY ESTIMATES WHEN NAF SERVICE IS USED TO QUALIFY FOR 

IMMEDIATE RETIREMENT UNDER SECTION 1132 OF PUBLIC LAW 107-107 

BAL 03-102 JANUARY 22, 2003 
ATTACHMENT 2 -- COMPUTING ANNUITY ESTIMATES WHEN NAF SERVICE IS USED TO QUALIFY 

FOR IMMEDIATE RETIREMENT UNDER SECTION 1132 OF PUBLIC LAW 107-107 

TABLE OF CONTENTS 

Overview of Computation 

Present Value Factors and 

Discount Factors 

Preparing to Compute an Annuity Estimate for a 

CSRS or CSRS Offset Employee Who Elects to Use 

NAF Service to Qualify for Immediate Retirement 

Computing an Annuity Estimate for a CSRS or 

CSRS Offset Employee Who Elects to Use NAF 

Service to Qualify for Immediate Retirement 

Preparing to Compute an Annuity Estimate 

for a FERS Employee (With No CSRS

Component) Who Elects to Use NAF Service

to Qualify for Immediate Retirement 

Computing an Annuity Estimate for a FERS 

Employee (With No CSRS Component) Who

Elects to Use NAF Service to Qualify for 

Immediate Retirement 

Preparing to Compute an Annuity Estimate for a 

FERS Employee (With a CSRS Component) Who

Elects to Use NAF Service to Qualify for Immediate 

Computing an Annuity Estimate for a FERS Employee 

(With A CSRS Component) Who Elects to Use NAF

Service to Qualify for Immediate Retirement 

CSRS Blank Worksheet and Data Sheet 

FERS (No Component) Blank Worksheet and Data Sheet 

FERS (With CSRS Component) Blank Worksheet and Data Sheet 

Page 

3 

4 

4 

5 

12 

12 

22 

23 

37 

39 

41 

BAL 03-102 January 22, 2003 

Attachment 2 Page 2 
COMPUTING ANNUITY ESTIMATES WHEN NAF SERVICE IS USED TO QUALIFY FOR IMMEDIATE 

RETIREMENT UNDER SECTION 1132 OF PUBLIC LAW 107-107 

Overview of Computation 

The annuity of an employee who elects to use NAF service to qualify for immediate retirement 

equals the present value of the deferred annuity that the employee would receive without credit 

for the NAF service. The present value of a deferred annuity can be viewed as a deferred 

annuity that is reduced because the employee is receiving it early. 

To compute the present value of the deferred annuity, you must first compute the gross monthly 

rate of the deferred annuity after all appropriate reductions for age, survivor elections, and 

unpaid deposits and redeposits. Generally, you will be able to compute the deferred annuity 

rate using the computer software you typically use to compute annuity estimates. However, you 

may have to do a manual computation if: 

 a CSRS employee or a FERS employee entitled to a CSRS component owes a CSRS 

deposit for non-deductions service performed before October 1, 1982, (a pre-10/1/82 

deposit), or 

 a CSRS employee or a FERS employee entitled to a CSRS component owes a CSRS 

redeposit for refunded service that ended before October 1, 1990 (a pre-10/1/90 

redeposit). 

When you apply the reductions for the pre-10/1/82 deposit and the pre-10/1/90 redeposit, you 

must be careful to use the deposit and redeposit balances owed as of the date the immediate 

annuity begins and not the date the deferred annuity would normally begin. If your computer 

software is unable to use the appropriate deposit and redeposit balances when computing the 

deferred annuity, you must compute the deferred annuity manually. 

In computing the gross monthly rate of a FERS deferred annuity, compute the rate as though 

the deferred annuity would begin: 

• on the first day of the month after the employee’s 62nd birthday if the employee has less 

than 10 years of creditable non-NAF service; 

• on the first day of the month after the day the employee reaches his or her minimum 

retirement age if the employee has at least 10 years of creditable non-NAF service, but 

less than 20 years; 

• on the first day of the month after the employee’s 60th birthday if the employee has 20 

years or more of creditable non-NAF service and the employee’s 60th birthday does not 

fall on the first day of the month; or 

• on the employee’s 60th birthday if the employee has 20 years or more of creditable nonNAF service and the employee’s 60th birthday falls on the first day of the month. 

Once you have established the gross monthly rate of the deferred annuity, you must multiply 

that rate by the present value factor corresponding to the employee’s age on the date you 

determined the deferred annuity would begin. The result equals the present value of the 

deferred annuity as of the date the deferred annuity would begin. To determine the current 

present value of the deferred annuity (the present value as of the date the immediate annuity 

begins), you must use a discount factor. The discount factor is a factor derived from the 

assumed rate of investment return earned by the Civil Service Retirement and Disability Fund, 

and the amount of time (years and full months) between the date the immediate annuity begins 

BAL 03-102 January 22, 2003 

Attachment 2 Page 3 
and the date you determined the deferred annuity would begin. When you apply the discount 

factor, you are in essence reducing the deferred annuity because the employee is receiving it 

early. To determine the current present value of the deferred annuity, simply multiply the 

present value of the deferred annuity as of the date the deferred annuity would begin by the 

appropriate discount factor. Then divide the result by the present value factor corresponding to 

the employee’s age as of the date the immediate annuity begins to obtain the gross monthly 

rate payable to the retiring employee. 

We can summarize this computation using the following formula: 

(Gross Monthly Deferred Annuity) x (PVF-Deferred) x (Discount Factor) 

(PVF-Immediate) 

(PVF-Deferred equals the present value factor based on the employee’s age on the date you 

determined the deferred annuity would begin. PVF-Immediate equals the present value factor 

based on the employee’s age on the date the immediate annuity actually begins.) 

To compute the rate of the survivor annuity, simply substitute the survivor rate you obtain from 

the deferred computation for the employee’s gross monthly deferred annuity rate in the above 

formula. The other numbers stay the same. 

Present Value Factors and Discount Factors 

A present value factor is a factor calculated by OPM’s actuary using generally accepted 

actuarial standards and on the basis of assumptions used by the Board of Actuaries of the Civil 

Service Retirement System. We’ve included charts showing the current present value factors 

for CSRS and FERS retirees in Attachment 6 of this Benefits Administration Letter. 

(Please note, the present value factors in the attachment are the new set of factors that went 

into effect on October 1, 2002. These factors are subject to change and we always announce 

changes to these factors at least 3 months before the effective date of the change in the Federal 

Register. Whenever these factors change in the future, always use the factors in effect as of 

the date the immediate annuity begins to complete the computation.) 

As noted above, the discount factor is a factor derived from the assumed rate of investment 

return earned by the Civil Service Retirement and Disability Fund, and the amount of time 

between the beginning dates of the immediate and deferred annuities. As of October 1, 2002, 

the rate of investment return on the Civil Service Retirement and Disability Fund is assumed to 

be 6.75 percent. We’ve included a chart showing the discount factors based on the 6.75 

percent rate in Attachment 6. 

Preparing to Compute an Annuity Estimate for a CSRS or CSRS Offset Employee Who

Elects to Use NAF Service to Qualify for Immediate Retirement 

We’ve included a worksheet that you can use to compute the annuity of a CSRS or CSRS 

Offset employee who elects to use NAF service to qualify for immediate retirement. (Remember 

that you must show this annuity rate in Part 1 of the NAF service credit election form.) Before 

BAL 03-102 January 22, 2003 

Attachment 2 Page 4 
completing the worksheet, however, there are a few things that you should do to make the 

computation easier to complete. 

First, you can compute an estimate of the deferred annuity without credit for NAF service using 

your annuity estimate software. You need to determine the gross monthly rate after all 

appropriate reductions for survivor elections and unpaid deposits and redeposits. You also 

need to determine the survivor annuity rate if the employee elects survivor benefits. 

If the employee owes a deposit for non-deduction service performed before 

October 1, 1982, or a redeposit for refunded service that ended before October 

1, 1990, the appropriate reductions should be based on the deposit and/or 

redeposit balance(s) as of the date the immediate annuity actually begins. 

Before computing the deferred annuity, compute the appropriate deposit and 

redeposit balances as of the date the immediate annuity begins. If your annuity 

estimate software allows you to insert those balances into the deferred annuity 

computation, compute the monthly deferred annuity. If your annuity estimate 

software doesn’t allow you to insert those balances and actually projects 

additional interest on those balances for the period of time between the date 

the immediate annuity begins and the date the deferred annuity would normally 

begin, compute the annual deferred annuity rate without any reductions using 

your annuity estimate software. You will then need to compute the monthly 

rate manually using Part A of the worksheet. 

In addition to the deferred annuity, deposit, and redeposit computations, you will need to find the 

present value factor corresponding to the employee’s age on the date the immediate annuity 

begins and the present value factor for age 62 (the date the deferred annuity would normally 

begin). 

Finally, you will need to compute the total years and full months between the date the 

immediate annuity begins and the date the deferred annuity would normally begin. Then you 

will need to find the discount factor corresponding to the years and full months you computed. 

We’ve included a Data Sheet with the annuity computation worksheet. The Data Sheet gives 

you a place to store all the information you need to compute the employee’s actual annuity 

benefit. 

Computing an Annuity Estimate for a CSRS or CSRS Offset Employee Who Elects to Use

NAF Service to Qualify for Immediate Retirement 

You can use the CSRS Annuity Computation Using NAF Service Creditable Under Section 1132 

of Public Law 107-107 – Worksheet to compute the annuity benefit payable to the employee as 

of the date the immediate annuity begins. If you need to manually compute the gross monthly 

rate of the deferred annuity, start with Part A of the worksheet. If you’ve already determined the 

gross monthly deferred annuity rate using your annuity estimate software, you can start with 

Part B of the worksheet. 

The worksheet guides you through the computation. In Part A, you simply apply the appropriate 

reductions to the deferred basic annual annuity to determine the gross monthly deferred 

annuity. In Part B, using the gross monthly deferred annuity rate, you compute the present 

value of the deferred annuity as of the date the immediate annuity begins, and then you 

BAL 03-102 January 22, 2003 

Attachment 2 Page 5 
--

-- 

establish the gross monthly rate payable to the employee. If the employee elects a survivor 

annuity, you also establish the gross monthly survivor rate. 

We’ve included two sample computations, Sharon and Michelle, to illustrate how to complete 

the worksheet. 

SHARON BACKGROUND INFORMATION 

Date of Birth: 06-27-1944 

Retirement Date: 11-30-2002 (Regular Optional) 

Date Immediate Annuity Begins: 12-01-2002 

Age at Date Immediate Annuity Begins: 58y 05m 05d 

Service History: 02-07-1967 to 09-17-1970 (Military) 3y 7m 11d 

11-11-1974 to 04-28-1979 (NAFI): 4y 5m 18d 

10-13-1979 to 11-30-2002 (CSRS) 23y 1m 18d 

Sick Leave Credit: 1406 hours 0y 8m 3d 

Total Service Used to Determine Eligibility 

for Immediate Optional Retirement: 

31y 2m 17d (includes NAFI service) 

Total Service Used to Compute Deferred 

Annuity: 

26y 8m (does not include NAFI service or 

unused sick leave) 

Deposit Balance for Pre-10/1/82 Nondeduction Service (as of 12/01/02): $ N/A 

Redeposit Balance for Refunded Service 

Ending Before 10/1/90 (as of 12/01/02): 

$ N/A 

Survivor Election Maximum Survivor Annuity 

Gross Monthly Deferred Annuity After 

Survivor Election Reduction: 

$1,607.00 (computed from annuity estimate 

software) 

Gross Monthly Survivor Rate (Based on 

Deferred Annuity Computation) 

$968.00 (computed from annuity estimate 

software) 

Age at Date Deferred Annuity Would 

Normally Begin: 62y (06-27-2006) 

Years and Full Months Between Date 

Immediate Annuity Begins and Date 

Deferred Annuity Would Begin (the 

Employee’s 62nd Birthday) 

3y 6m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 6 
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CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107

DATA SHEET

(Data Needed for Computation) 

Sharon 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 12/01/2002 

B. Employees Age on Date Annuity Begins: 58y 5m 5d 

C. Present Value Factor Corresponding to Employee’s Age on Date Annuity 

Begins (from CSRS Present Value Factor Chart): 

197.2 

D. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ N/A 

E. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ N/A 

II. Deferred Annuity Information (not including credit for NAF service) 

If employee owes either a CSRS deposit for pre-10/1/82 non-deduction service or a redeposit for refunded 

service that ended before 10/1/90,the reductions to the deferred annuity for unpaid deposit and redeposit 

should be based on the deposit and redeposit balances shown in Line I-D and I-E above. If your annuity 

estimate software can compute the monthly deferred annuity using the appropriate deposit/redeposit 

balances, use your software to compute the monthly annuity rate and survivor rate. Skip Line II-A and enter 

the monthly annuity rate and survivor rate in Lines II-B and II-C. If your annuity estimate software adds 

additional interest to the deposit and redeposit balances before computing the monthly deferred annuity rate, 

enter the Basic Annual Annuity (before any reductions) your annuity estimate software produces in Line II-A 

and skip Lines II-B and II-C. You will need to compute the monthly deferred annuity and survivor annuity 

manually in Part A of the NAF annuity estimate worksheet. If the deposit and redeposit balances in Line I-D 

and I-E above are both $0.00, skip Line A and enter the deferred monthly annuity rate and survivor rate 

computed on your annuity estimate software in Lines II-B and II-C. 

A. Basic Annual Annuity Before Any Reductions $ 

B. Gross Monthly Annuity Rate (after all appropriate reductions) $ 1,607.00 

C. Gross Monthly Annuity Survivor Rate (if applicable) $ 968.00 

D. Present Value Factor Corresponding to Age 62 (from CSRS Present Value 

Factor Chart) 

177.9 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Deferred Annuity Would Normally Begin (62nd Birthday): 

3y 6m 

F. Discount Factor Corresponding to Total Years and Full Months Between 

the Date the Immediate Annuity Begins and the Date the Deferred Annuity 

Would Normally Begin (from Discount Factors Chart): 

.795632 

Note, if you entered the gross monthly annuity rates on lines II-B and II-C above, 

skip Part A of the CSRS Annuity Computation Using NAF Service 

worksheet and begin at Part B. 

BAL 03-102 January 22, 2003 

Attachment 2 Page 7 
CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE UNDER 

SECTION 1132 OF PUBLIC LAW 107-107 -- WORKSHEET 

Sharon 

Part A: omputing the Gross Monthly Deferred Annuity Without Credit for NAF Service 

1. Deferred Basic Annual Annuity (Before Any Reductions - from Line II-A of Data Sheet) $ 

2. Unpaid Deposit Reduction (10% of Unpaid Deposit Balance on Line I-D of Data Sheet:) - $ 

3. Annuity Reduced for Unpaid Deposit (Line 1 minus Line 2) $ 

4. Reduction for Survivor Election 

 Survivor Base: 

 Minus: $3,600.00 X .025 = 

 Base > $3,600 X .10 = + 

Total Reduction $ 

5. Annuity Reduced for Survivor Election (Line 3 minus Line 4) $ 

6. Gross Monthly Annuity (Divide Line 5 by 12 and round to lower dollar): $ 

7. Reduction for Unpaid Redeposit 

÷ = $ 

Unpaid Redeposit from Line IE of Data Sheet Present Value Factor for Age 62 

from Line II-D of Data Sheet 

(Round to Higher 

Dollar) 

8. Gross Monthly Annuity After Reduction for Unpaid Redeposit (Line 6 minus Line 7) $ 

Survivor Rate 

9. Base (from Line 4) $ 

Times 55% X 55% 

10. Annual Survivor Benefit: (Line 9 x 55% - round to nearer penny) $ 

11. Monthly Survivor Benefit (divide amount in Line 10 nd round to lower dollar) $ 

Part B: Annuity Computation (Present Value of Deferred Annuity) 

12. Deferred Gross Monthly Annuity Rate (from Line 8 or Line II-B of Data Sheet) $ 

13. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 177.9 

14. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) X .795632 

15. Present Value of Deferred Annuity (Line 12 x Line 13 x Line 14, round to nearer penny) $ 227,459.49 

16. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

C

N/A 

Survivor 

by 12 a

Immediate 

1,607.00 

197.2 

17. Gross monthly annuity reduced for NAF service (divide Line 15 by Line 16 and round to 

lower dollar) 

$ 1,153.00 

Survivor Annuity Computation: 

18. Gross Monthly Survivor Base (from Line 11 or Line II-C of Data Sheet) $ 

19. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 177.9 

20. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) 

X .795632 

21. Present Value of Survivor Annuity (Line 18 x Line 19 x Line 20, round to nearer penny) $ 137,013.55 

22. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

23. Gross monthly survivor annuity reduced for NAF service (divide Line 21 by Line 22 

and round to lower dollar) 

$ 

968.00 

197.2 

694.00 

BAL 03-102 January 22, 2003 

Attachment 2 Page 8 
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MICHELLE BACKGROUND INFORMATION

Date of Birth: 10-24-1956 

Retirement Date: 11-30-2002 (Early Optional) 

Date Immediate Annuity Begins: 12-01-2002 

Age at Date Immediate Annuity Begins: 46y 01m 07d 

Service History: 06-10-1975 to 06-09-1976 (Non-deduction) 1y 0m 0d 

06-10-1976 to 06-09-1977 (Refunded) 1y 0m 0d 

07-01-1977 to 09-30-1983 (NAFI): 6y 3m 0d 

10-11-1983 to 11-30-2002 (CSRS) 19y 1m 20d 

Sick Leave Credit: 1406 hours 0y 8m 3d 

Total Service Used to Determine Eligibility 

for Immediate (Early Optional)Retirement: 27y 4m 20d (includes NAFI service) 

Deposit Balance for Pre-10/1/82 Nondeduction Service (as of 12/01/02): $2,195.00 (computed from annuity estimate software) 

Redeposit Balance for Refunded Service 

that Ended Before 10/1/90 (as of 12/01/02): $2,329.00 (computed from annuity estimate software) 

High-3 Average Salary: $65,000 (computed from annuity estimate software) 

Survivor Election Maximum Survivor Election 

Total Service Used to Compute a Deferred 

Annuity: 

21y 1m (does not include NAFI service or unused sick 

leave) 

Age at Date Deferred Annuity Would 

Normally Begin: 

62y (10-24-2018) 

Basic Annual Deferred Annuity before any 

Reductions: $24,970.86 (computed from annuity estimate software) 

Years and Full Months Between Date 

Immediate Annuity Begins and Date 

Deferred Annuity Would Begin (the 

Employee’s 62nd Birthday) 

15y 10m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 9 
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CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107

DATA SHEET

(Data Needed for Computation) 

Michelle 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 12/01/02 

B. Employees Age on Date Annuity Begins: 46y 1m 7d 

C. Present Value Factor Corresponding to Employee’s Age on Date Annuity 

Begins (from CSRS Present Value Factor Chart): 

254.0 

D. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 2,195.00 

E. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 2,329.00 

II. Deferred Annuity Information (not including credit for NAF service) 

If employee owes either a CSRS deposit for pre-10/1/82 non-deduction service or a redeposit for refunded 

service that ended before 10/1/90,the reductions to the deferred annuity for unpaid deposit and redeposit 

should be based on the deposit and redeposit balances shown in Line I-D and I-E above. If your annuity 

estimate software can compute the monthly deferred annuity using the appropriate deposit/redeposit 

balances, use your software to compute the monthly annuity rate and survivor rate. Skip Line II-A and enter 

the monthly annuity rate and survivor rate in Lines II-B and II-C. If your annuity estimate software adds 

additional interest to the deposit and redeposit balances before computing the monthly deferred annuity rate, 

enter the Basic Annual Annuity (before any reductions) your annuity estimate software produces in Line II-A 

and skip Lines II-B and II-C. You will need to compute the monthly deferred annuity and survivor annuity 

manually in Part A of the NAF annuity estimate worksheet. If the deposit and redeposit balances in Line I-D 

and I-E above are both $0.00, skip Line A and enter the deferred monthly annuity rate and survivor rate 

computed on your annuity estimate software in Lines II-B and II-C. 

A. Basic Annual Annuity Before Any Reductions $ 24,970.86 

B. Gross Monthly Annuity Rate (after all appropriate reductions) $ 

C. Gross Monthly Annuity Survivor Rate (if applicable) $ 

D. Present Value Factor Corresponding to Age 62 (from CSRS Present Value 

Factor Chart) 

177.9 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Deferred Annuity Would Normally Begin (62nd Birthday): 

15y 10m 

F. Discount Factor Corresponding to Total Years and Full Months Between 

the Date the Immediate Annuity Begins and the Date the Deferred Annuity 

Would Normally Begin (from Discount Factors Chart): 

.355502 

Note, if you entered the gross monthly annuity rates on lines II-B and II-C above, 

skip Part A of the CSRS Annuity Computation Using NAF Service 

worksheet and begin at Part B. 

BAL 03-102 January 22, 2003 

Attachment 2 Page 10 
CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE UNDER 

SECTION 1132 OF PUBLIC LAW 107-107 -- WORKSHEET 

Michelle 

Part A: omputing the Gross Monthly Deferred Annuity Without Credit for NAF Service 

1. Deferred Basic Annual Annuity (Before Any Reductions - from Line II-A of Data Sheet) $ 24,970.86 

2. Unpaid Deposit Reduction (10% of Unpaid Deposit Balance on Line I-D of Data Sheet:) - $ 219.50 

3. Annuity Reduced for Unpaid Deposit (Line 1 minus Line 2) $ 24,751.36 

4. Reduction for Survivor Election 

 Survivor Base: $24,751.36 

 Minus: $3,600.00 X .025 = $90.00 

 Base > $3,600 $21,151.36 X .10 = + $2,115.14 

Total Reduction $ 

5. Annuity Reduced for Survivor Election (Line 3 minus Line 4) $ 22,546.22 

6. Gross Monthly Annuity (Divide Line 5 by 12 and round to lower dollar): $ 

7. Reduction for Unpaid Redeposit 

$ 2,329.00 ÷ 177.9 = $ 

Unpaid Redeposit from Line IE of Data Sheet Present Value Factor for Age 62 

from Line II-D of Data Sheet 

(Round to Higher 

Dollar) 

8. Gross Monthly Annuity After Reduction for Unpaid Redeposit (Line 6 minus Line 7) $ 1,864.00 

Survivor Rate 

9. Base (from Line 4) $ 24,751.36 

Times 55% X 55% 

10. Annual Survivor Benefit: (Line 9 x 55% - round to nearer penny) $ 13,613.25 

11. Monthly Survivor Benefit (divide amount in Line 10 nd round to lower dollar) $ 

Part B: Annuity Computation (Present Value of Deferred Annuity) 

12. Deferred Gross Monthly Annuity Rate (from Line 8 or Line II-B of Data Sheet) $ 

13. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 177.9 

14. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) X .355502 

15. Present Value of Deferred Annuity (Line 12 x Line 13 x Line 14, round to nearer penny) $ 117,886.45 

16. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

C

2,205.14 

1,878.00 

14.00 

Survivor 

by 12 a 1,134.00 

Immediate 

1,864.00 

254.0 

17. Gross monthly annuity reduced for NAF service (divide Line 15 by Line 16 and round to $ 464.00 

lower dollar) 

Survivor Annuity Computation: 

18. Gross Monthly Survivor Base (from Line 11 or Line II-C of Data Sheet) $ 

19. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 177.9 

20. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) 

X .355502 

21. Present Value of Survivor Annuity (Line 18 x Line 19 x Line 20, round to nearer penny) $ 

22. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

23. Gross monthly survivor annuity reduced for NAF service (divide Line 21 by Line 22 

and round to lower dollar) 

$ 

1,134.00 

71,718.48 

254.0 

282.00 

BAL 03-102 January 22, 2003 

Attachment 2 Page 11 
Preparing to Compute an Annuity Estimate for a FERS Employee (With No CSRS 

Component) Who Elects to Use NAF Service to Qualify for Immediate Retirement 

We’ve included a worksheet that you can use to compute the annuity of a FERS employee (with 

no CSRS component) who elects to use NAF service to qualify for immediate retirement. 

(Remember that you must show this annuity rate in Part 1 of the NAF service credit election 

form.) Before completing the worksheet, however, there are a few things that you should do to 

make the computation easier to complete. 

First, you can compute an estimate of the deferred annuity without credit for NAF service using 

your annuity estimate software. You need to determine the gross monthly rate after all 

appropriate reductions for age and survivor elections. You also need to determine the survivor 

annuity rate if the employee elects survivor benefits. If the employee has more than 5 but less 

than 10 years of creditable non-NAF service, compute the deferred annuity assuming it would 

begin on the first of the month after the employee’s 62nd birthday. (If the employee’s 62nd 

birthday is on the first of the month, assume the deferred annuity would begin on the 

employee’s 62nd birthday.) If the employee has at least 10 but less than 20 years of creditable 

non-NAF service, compute the deferred annuity assuming it would begin on the first day of the 

month after the employee reaches his or her minimum retirement age (MRA). (If the employee 

reaches the MRA on the first of the month, assume the deferred annuity would begin on the day 

the employee reaches the MRA.) If the employee has at least 20 years of creditable non-NAF 

service, compute the deferred annuity assuming it would begin on the first day of the month 

after the employee’s 60th birthday. (If the employee’s 60th birthday is on the first of the month, 

assume the deferred annuity would begin on the employee’s 60th birthday.) 

In addition to the deferred annuity computation, you will need to find the present value factor 

corresponding to the employee’s age on the date the immediate annuity begins and the present 

value factor corresponding to the employee’s age as of the date that you are using to compute 

the deferred annuity (that is, as of the date you are assuming the deferred annuity would begin). 

Finally, you will need to compute the total years and full months between the date the 

immediate annuity begins and the date you are using to compute the deferred annuity. Then 

you will need to find the discount factor corresponding to the years and months you computed. 

We’ve included a Data Sheet with the annuity computation worksheet. The Data Sheet gives 

you a place to store all the information you need to compute the employee’s actual annuity 

benefit. 

Computing an Annuity Estimate for a FERS Employee (With No CSRS Component) Who 

Elects to Use NAF Service to Qualify for Immediate Retirement 

You can use the FERS Annuity Computation Using NAF Service Creditable Under Section 1132 

of Public Law 107-107 Worksheet – No CSRS Component to compute the annuity benefit 

payable to the employee as of the date the immediate annuity begins. In the first part of the 

worksheet, using the gross monthly deferred annuity rate, you compute the present value of the 

deferred annuity as of the date the immediate annuity begins, and then you establish the gross 

monthly rate payable to the employee. In the bottom part of the worksheet, you establish the 

gross monthly survivor rate (provided the employee elects a survivor annuity). 

BAL 03-102 January 22, 2003 

Attachment 2 Page 12 
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We’ve included three sample computations, Lisa, Kelly, and Vanessa to illustrate how to 

complete the worksheet. 

Lisa Background Information 

FERS – No CSRS Component 

Date of Birth: 08-01-1951 

(Minimum Retirement Age (MRA) = 55y 8m) 

Retirement Date: 12-14-2002 (Discontinued Service) 

Date Immediate Annuity Begins: 12-15-2002 

Age at Date Immediate Annuity Begins: 51y 04m 14d 

Service History: 05-23-1971 to 09-23-1979 (NAFI) 8y 4m 1d 

06-06-1987 to 12-14-2002 (FERS) 15y 6m 9d 

Total Service Used to Determine 

Eligibility for Immediate (Discontinued 

Service)Retirement: 

23y 10m 10d (includes NAFI service) 

Survivor Election Maximum Election 

Total Service Used to Compute a 

Deferred Annuity: 15y 6m (does not include NAFI service) 

Date Used to Compute the Deferred 

Annuity: 04-01-2007 (MRA) 

Age at Date Used to Compute Deferred 

Annuity: 55y 8m 1d 

Gross Monthly Deferred Annuity (without 

NAF credit): $454.00 (computed from annuity estimate software) 

Gross Monthly Survivor Rate Based 

From Deferred Computation: $252.00 (computed from annuity estimate software) 

Years and Full Months Between 

Commencing Date of Immediate Annuity 

and Date Used to Compute Deferred 

Annuity: 

4y 3m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 13 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for Computation -- No CSRS Component) 

Lisa 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 12/15/2002 

B. Employee’s Age as of Date Annuity Begins: 51y 4m 14d 

C. Present Value Factor Corresponding to Employee’s Age as of Date Annuity 

Begins (from FERS Present Value Factor Chart) 168.2 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Gross Monthly Annuity Rate (after reduction for age and survivor election, if 

applicable): 

$454.00 

B. Gross Monthly Survivor Annuity Rate (if applicable): $252.00 

C. Date Used to Compute the Deferred Annuity (Use the earliest date the deferred 

annuity could begin unless the employee has at least 20 years of creditable nonNAF service, then use the first of the month after the employee’s 60th birthday): 

04/01/2007 

D. Employee’s Age as of the Date Used to Compute the Deferred Annuity: 55y 8m 1d 

E. Present Value Factor Corresponding to Employee’s Age as of the Date 

Used to Compute the Deferred Annuity (from FERS Present Value Factor 

Chart): 

167.0 

F. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Used to Compute the Deferred Annuity: 4y 3m 

G. Discount Factor Corresponding to Total Years and Full Months Between the 

Date the Immediate Annuity Begins and the Date Used to Compute the 

Deferred Annuity (from Discount Factors Chart): 

.757594 

BAL 03-102 January 22, 2003 

Attachment 2 Page 14 
--

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET NO CSRS COMPONENT 

Lisa 

Immediate Annuity Computation (Equals the Present Value of the Deferred Annuity) 

1. Deferred Monthly Annuity Rate (From Line II-A of Data Sheet) $ 

2. Present Value Factor Corresponding to Employee’s Age as of the Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 

3. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuity (from Line 

II-G of Data Sheet) 

X .757594 

4. Present Value of Deferred Annuity (Line 1 x Line 2 x Line 3, round to nearer penny) $ 57,439.26 

5. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

6. Gross Monthly Annuity Reduced for NAF Service (divide Line 4 by Line 5 and round 

to lower dollar) $ 

Survivor Annuity Computation: 

7. Gross Monthly Survivor Annuity (from line II-B of Data Sheet) $ 

8. Present Value Factor Corresponding to Employee’s Age as of the Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 167.0 

9. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuity (from Line 

II-G of Data Sheet) 

X .757594 

10. Present Value of Survivor Annuity (Line 7 x Line 8 x Line 9, round to nearer $ 

11. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

12. Gross Monthly Survivor Annuity Reduced for NAF Service (divide Line 10 by Line 

11 and round to lower dollar) $ 

454.00 

167.0 

168.2 

341.00 

252.00 

penny) 31,882.59 

168.2 

189.00 

BAL 03-102 January 22, 2003 

Attachment 2 Page 15 
KELLY -- BACKGROUND INFORMATION 

FERS – No CSRS Component 

Date of Birth: 04-29-1947 

Retirement Date: 12-31-2002 (MRA+30 Regular Optional) 

Date Immediate Annuity Begins: 01-01-2003 

Age at Date Immediate Annuity Begins: 55y 08m 2d 

Service History: 02-23-1970 to 09-11-1991 (NAFI) 21y 6m 19d 

09-05-1993 to 12-31-2002 (FERS) 9y 4m 26d 

Total Service Used to Determine Eligibility 

for Immediate (MRA+30)Retirement: 30y 11m 15d (includes NAFI service) 

Survivor Election Partial Election 

Total Service Used to Compute a Deferred 

Annuity: 9y 4m (does not include NAFI service) 

Date Used to Compute the Deferred Annuity: 05-01-2009 (first day of the month after the 

employee’s 62nd birthday) 

Age at Date Used to Compute Deferred 

Annuity: 

62y 0m 2d 

Gross Monthly Deferred Annuity (without 

NAF credit): $366.00 (computed from annuity estimate 

software) 

Gross Monthly Survivor Rate based on 

Deferred Computation $96.00 (computed from annuity estimate 

software) 

Years and Full Months Between 

Commencing Date of Immediate Annuity and 

Date Used to Compute Deferred Annuity: 

6y 4m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 16 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for Computation -- No CSRS Component) 

Kelly 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 01/01/2003 

B. Employee’s Age as of Date Annuity Begins: 55y 8m 2d 

C. Present Value Factor Corresponding to Employee’s Age as of Date Annuity 

Begins (from FERS Present Value Factor Chart) 167.0 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Gross Monthly Annuity Rate (after reduction for age and survivor election, if 

applicable): 

$ 366.00 

B. Gross Monthly Survivor Annuity Rate (if applicable): $ 96.00 

C. Date Used to Compute the Deferred Annuity (Use the earliest date the deferred 

annuity could begin unless the employee has at least 20 years of creditable nonNAF service, then use the first of the month after the employee’s 60th birthday): 

05-01-2009 

D. Employee’s Age as of the Date Used to Compute the Deferred Annuity: 62y 0m 2d 

E. Present Value Factor Corresponding to Employee’s Age as of the Date 

Used to Compute the Deferred Annuity (from FERS Present Value Factor 

Chart): 

165.6 

F. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Used to Compute the Deferred Annuity: 6y 4m 

G. Discount Factor Corresponding to Total Years and Full Months Between the 

Date the Immediate Annuity Begins and the Date Used to Compute the 

Deferred Annuity (from Discount Factors Chart): 

.661206 

BAL 03-102 January 22, 2003 

Attachment 2 Page 17 
--

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE UNDER SECTION 

1132 OF PUBLIC LAW 107-107 

WORKSHEET NO CSRS COMPONENT 

Kelly 

Immediate Annuity Computation (Equals the Present Value of the Deferred Annuity) 

1. Deferred Monthly Annuity Rate (From Line II-A of Data Sheet) $ 

2. Present Value Factor Corresponding to Employee’s Age as of Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 

3. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuitiy (from 

Line II-G of Data Sheet) 

X .661206 

4. Present Value of Deferred Annuity (Line 1 x Line 2 x Line 3, round to nearer penny) $ 

5. Present Value Factor Based on Employee’s Current Age (from Line I-C of data 

sheet) ÷ 

6. Gross Monthly Annuity Reduced for NAF Service (divide Line 4 by Line 5 and round 

to lower dollar) $ 

Survivor Annuity Computation: 

7. Gross Monthly Survivor Annuity (from line II-B of Data Sheet) $ 

8. Present Value Factor Corresponding to Employee’s Age as of Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 165.6 

9. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuitiy (from 

Line II-G of Data Sheet) 

X .661206 

10. Present Value of Survivor Annuity (Line 7 x Line 8 x Line 9, round to nearer penny) $ 

11. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

12. Gross Monthly Survivor Annuity Reduced for NAF Service (divide Line 10 by Line 

11 and round to lower dollar) $ 

366.00 

165.6 

40,075.43 

167.0 

239.00 

96.00 

10,511.59 

167.0 

62.00 

BAL 03-102 January 22, 2003 

Attachment 2 Page 18 
VANESSA -- BACKGROUND INFORMATION 

FERS – No CSRS Component 

Date of Birth: 10-24-1953 

Retirement Date: 12-31-2002 (Discontinued Service Retirement) 

Date Immediate Annuity Begins: 01-01-2003 

Age at Date Immediate Annuity Begins: 49y 02m 08d 

Service History: 04-05-1975 to 10-12-1982 (NAFI) 6y 6m 8d 

10-03-1982 to 10-02-1984 (FICA) 2y 0m 0d 

10-03-1984 to 12-31-1986 (CSRS&FICA) 2y 2m 

28d 

01-01-1987 to 12-31-2002 (FERS) 16y 0m 0d 

FERS Deposit for Non-Deduction (FICA) 

Service: Deposit Paid in Full 

Total Service Used to Determine Eligibility 

for Immediate (Discontinued 

Service)Retirement: 

26y 9m 6d (includes NAFI service) 

Survivor Election Full Survivor Benefit 

Total Service Used to Compute a Deferred 

Annuity: 20y 2m (does not include NAFI service) 

Date Used to Compute the Deferred Annuity: 11-01-2013 (first day of month after employee’s 60th 

birthday) 

Age at Date Used to Compute Deferred 

Annuity: 

60y 0m 8d 

Gross Monthly Deferred Annuity (without 

NAF credit): $1,077.00 (computed from annuity estimate 

software) 

Gross Monthly Survivor Rate based on 

Deferred Computation $598.00 (computed from annuity estimate software) 

Years and Full Months Between 

Commencing Date of Immediate Annuity and 

Date Used to Compute Deferred Annuity: 

10y 10m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 19 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for Computation -- No CSRS Component) 

Vanessa 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 01/01/2003 

B. Employee’s Age as of Date Annuity Begins: 49y 2m 8d 

C. Present Value Factor Corresponding to Employee’s Age as of Date Annuity 

Begins (from FERS Present Value Factor Chart) 169.8 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Gross Monthly Annuity Rate (after reduction for age and survivor election, if 

applicable): 

$ 1,077.00 

B. Gross Monthly Survivor Annuity Rate (if applicable): $ 598.00 

C. Date Used to Compute the Deferred Annuity (Use the earliest date the deferred 

annuity could begin unless the employee has at least 20 years of creditable nonNAF service, then use the first of the month after the employee’s 60th birthday): 

11-01-2013 

D. Employee’s Age as of the Date Used to Compute the Deferred Annuity: 60y 0m 8d 

E. Present Value Factor Corresponding to Employee’s Age as of the Date 

Used to Compute the Deferred Annuity (from FERS Present Value Factor 

Chart): 

167.3 

F. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Used to Compute the Deferred Annuity: 10y 10m 

G. Discount Factor Corresponding to Total Years and Full Months Between the 

Date the Immediate Annuity Begins and the Date Used to Compute the 

Deferred Annuity (from Discount Factors Chart): 

.492812 

BAL 03-102 January 22, 2003 

Attachment 2 Page 20 
--

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE UNDER SECTION 

1132 OF PUBLIC LAW 107-107 

WORKSHEET NO CSRS COMPONENT 

Vanessa 

Immediate Annuity Computation (Equals the Present Value of the Deferred Annuity) 

1. Deferred Monthly Annuity Rate (From Line II-A of Data Sheet) $ 

2. Present Value Factor Corresponding to Employee’s Age as of Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 

3. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuitiy (from 

Line II-G of Data Sheet) 

X .492812 

4. Present Value of Deferred Annuity (Line 1 x Line 2 x Line 3, round to nearer penny) $ 

5. Present Value Factor Based on Employee’s Current Age (from Line I-C of data 

sheet) ÷ 

6. Gross Monthly Annuity Reduced for NAF Service (divide Line 4 by Line 5 and round 

to lower dollar) $ 

Survivor Annuity Computation: 

7. Gross Monthly Survivor Annuity (from line II-B of Data Sheet) $ 

8. Present Value Factor Corresponding to Employee’s Age as of Date Used to 

Compute the Deferred Annuity (from Line II-E of Data Sheet) X 167.3 

9. Discount Factor Corresponding to the Time Between the Beginning Date of the 

Immediate Annuity and the Date Used to Compute the Deferred Annuitiy (from 

Line II-G of Data Sheet) 

X .492812 

10. Present Value of Survivor Annuity (Line 7 x Line 8 x Line 9, round to nearer penny) $ 

11. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

12. Gross Monthly Survivor Annuity Reduced for NAF Service (divide Line 10 by Line 

11 and round to lower dollar) $ 

1,077.00 

167.3 

88,795.90 

169.8 

522.00 

598.00 

49,303.57 

169.8 

290.00 

BAL 03-102 January 22, 2003 

Attachment 2 Page 21 
Preparing to Compute an Annuity Estimate for a FERS Employee (With a CSRS 

Component) Who Elects to Use NAF Service to Qualify for Immediate 

We’ve included a worksheet that you can use to compute the annuity of a FERS employee (with 

a CSRS Component) who elects to use NAF service to qualify for immediate retirement. 

(Remember that you must show this annuity rate in Part 1 of the NAF service credit election 

form.) Before completing the worksheet, however, there are a few things that you should do to 

make the computation easier to complete. 

First, you can compute an estimate of the deferred annuity without credit for NAF service using 

your annuity estimate software. You need to determine the gross monthly rate after all 

appropriate reductions for age, survivor elections, and CSRS deposits and redeposits. You 

need to know the monthly rate of each component. You also need to determine the survivor 

annuity rate if the employee elects survivor benefits. (The survivor rate does not have a CSRS 

component.) If the employee has more than 5 but less than 10 years of creditable non-NAF 

service, compute the deferred annuity assuming it would begin on the first of the month after the 

employee’s 62nd birthday. (If the employee’s 62nd birthday is on the first of the month, assume 

the deferred annuity would begin on the employee’s 62nd birthday.) If the employee has at least 

10 but less than 20 years of creditable non-NAF service, compute the deferred annuity 

assuming it would begin on the first day of the month after the employee reaches his or her 

minimum retirement age (MRA). (If the employee reaches the MRA on the first of the month, 

assume the deferred annuity would begin on the day the employee reaches the MRA.) If the 

employee has at least 20 years of creditable non-NAF service, compute the deferred annuity 

assuming it would begin on the first day of the month after the employee’s 60th birthday. (If the 

employee’s 60th birthday is on the first of the month, compute the deferred annuity assuming it 

would begin on the employee’s 60th birthday.) 

If the employee owes a CSRS deposit for non-deduction service performed 

before October 1, 1982, or a CSRS redeposit for refunded service that ended 

before October 1, 1990, the appropriate reductions should be based on the 

deposit and/or redeposit balance(s) as of the date the immediate annuity 

actually begins. Before computing the deferred annuity, compute the 

appropriate deposit and redeposit balances as of the date the immediate 

annuity begins. If your annuity estimate software allows you to insert those 

balances into the deferred annuity computation, compute the monthly deferred 

annuity. If your annuity estimate software doesn’t allow you to insert those 

balances and actually projects additional interest on those balances for the 

period of time between the date the immediate annuity begins and the date you 

use to compute the deferred annuity, you will need to compute the annuity rate 

manually using the Part A of the worksheet. You will need to know the high-3 

average salary, the CSRS retirement factor that corresponds to the amount of 

creditable CSRS component service, the FERS retirement factor that 

corresponds to the amount of creditable FERS component service, and if 

applicable, the MRA+10 reduction factor. We’ve included the various charts 

you might need in Attachment 6. 

In addition to the deferred annuity computation, you will need to find the present value factors 

corresponding to the employee’s age on the date the immediate annuity begins and the present 

value factors corresponding to the employee’s age as of the date that you are using to compute 

the deferred annuity (that is, as of the date you are assuming the deferred annuity would begin). 

BAL 03-102 January 22, 2003 

Attachment 2 Page 22 
You will need to find the CSRS present value factor and the FERS present value factor for each 

age. 

Finally, you will need to compute the total years and full months between the date the 

immediate annuity begins and the date the deferred annuity could begin. Then you will need to 

find the discount factor corresponding to the years and months you computed. 

We’ve included a Data Sheet with the annuity computation worksheet. The Data Sheet gives 

you a place to store all the information you need to compute the employee’s actual annuity 

benefit. 

Computing an Annuity Estimate for a FERS Employee (With A CSRS Component) Who 

Elects to Use NAF Service to Qualify for Immediate Retirement 

You can use the FERS Annuity Computation Using NAF Service Creditable Under Section 1132 

of Public Law 107-107 Worksheet – FERS Annuity With CSRS Component to compute the 

annuity benefit payable to the employee as of the date the immediate annuity begins. If you 

need to manually compute the gross monthly rate of the deferred annuity, start with Part A of 

the worksheet. If you’ve already determined the gross monthly deferred annuity rate using your 

annuity estimate software, you can start with Part B of the worksheet. 

The worksheet guides you through the computation. In Part A, you begin by computing each 

component separately using the information you’ve collected on the Data Sheet. You will then 

combine the benefits and complete the computation. In Part B, using the gross monthly 

deferred CSRS component rate and FERS component rate, you compute the present value of 

each component as of the date the immediate annuity begins, and then you establish the gross 

monthly rate of each component that is payable to the employee. In Part C, you establish the 

gross monthly survivor rate (provided the employee elects a survivor annuity). 

We’ve included three sample computations, Tom, Mary Ann, and Lee, to illustrate how to 

complete the worksheet. 

BAL 03-102 January 22, 2003 

Attachment 2 Page 23 
TOM -- BACKGROUND INFORMATION

Date of Birth: 10-16-1948 

(Minimum Retirement Age (MRA) = 55y 2m) 

Retirement Date: 10-31-2002 (Early Optional) 

Annuity Commencing Date: 11-01-2002 

Age at Commencing Date: 54y 0m 16d 

Service History: 09-24-1972 to 12-08-1982 (CSRS): 10y 2m 15d 

02-23-1986 to 08-24-1992 (NAF): 6y 6m 2d 

10-30-1995 to 10-31-2002 (Offset/FERS) 7y 0m 1d 

Total Service Used to Determine 

Eligibility for Immediate (Early 

Optional)Retirement: 23y 8m 18d (includes NAFI service) 

Total Service Used to Compute a 

Deferred Annuity: 

CSRS Component: 10y 2m (not including NAF 

service) 

FERS Component: 7y 0m (not including NAF service) 

Survivor Election Maximum Election 

Date Used to Compute Deferred 

Annuity: 01-01-2004(first of month after reaching MRA) 

Age at Date Used to Compute Deferred 

Annuity: 55y 2m 16d 

Gross Monthly Deferred Annuity After 

Appropriate Reductions: 

CSRS Component: $535.00 (from annuity estimate software) 

FERS Component: $226.00 (from annuity estimate software) 

Gross Monthly Survivor Rate $423.00 (from annuity estimate software) 

Years and Full Months Between Date 

Immediate Annuity Begins and Date 

Used to Compute Deferred Annuity: 1y 2m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 24 
------ 

------ 

------ 

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET 

(Data Needed for FERS Computation With A CSRS Component) 

Tom 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

Present Value Factors Corresponding to Employee’s Age on Date Annuity Begins 

A. Date Annuity Begins: 11/01/2002 

B. Employee’s Age on Date Annuity Begins: 54y 0m 16d 

C. CSRS Present Value Factor (from CSRS Present Value Factor Chart): 216.2 

D. FERS Present Value Factor (from FERS Present Value Factor Chart): 167.3 

Unpaid CSRS Deposit/Redeposit Balances as of Date Immediate Annuity Begins 

E. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 0.00 

F. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 0.00 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Date Used to Compute Deferred Annuity (Use the Earliest Date Deferred Annuity 

Could Begin Unless Employee Has 20 Years Non-NAF Service, Then Use First of 

Month After Employee’s 60th Birthday): 

01/01/2004 

B. Employee’s Age as of Date Used to Compute theDeferred Annuity: 55y 2m 16d 

C. CSRS Present Value Factor Corresponding to Employee’s Age as of Date 

Used to Compute Deferred Annuity (From CSRS Present Value Factor Chart): 

211.4 

D. FERS Present Value Factor Corresponding to Employee’s Age as of Date 

Used to Compute Deferred Annuity (From FERS Present Value Factor Chart) 

167.0 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date of Deferred Annuity Could Begin: 

1y 2m 

F. Discount Factor Corresponding to Total Years and Full Months Between the 

Beginning Dates of the Immediate and Deferred Annuities (From Discount 

Factors Chart): 

.926625 

If the Deposit and Redeposit balances in Lines I-E and I-F above are both $0.00, Complete G Through I and then 

proceed to Part B of the Worksheet. Otherwise, skip to line J. 

G. Deferred Gross Monthly CSRS Component (after reductions for age and survivor 

election as appropriate) 

$ 535.00 

H. Deferred Gross Monthly FERS Component (after reductions for age and survivor 

election as appropriate) 

$ 226.00 

I. Deferred Gross Monthly Survivor Rate $ 423.00 

If Employee Owes either a CSRS Pre-10/1/82 Deposit or a CSRS Redeposit for Refunded Service Ending 

Before 10/1/90 Complete J Through O and then proceed to Part A of the Worksheet. 

J. High-3 Average Salary $ 

K. Total Service Used In CSRS Component (years/months, excluding sick leave) ------

L. CSRS Retirement Factor Corresponding to CSRS Component Service (from 

CSRS Retirement Factor Chart): 

M. Total Service Used In FERS Component (years/months) ------

N. FERS Retirement Factor Corresponding to FERS Component Service (from 

FERS 1% Retirement Factor Chart): 

O. MRA+10 Reduction Factor (From MRA+10 Reduction Factor Chart, if applicable): ------

BAL 03-102 January 22, 2003 

Attachment 2 Page 25 
--- 

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET – FERS ANNUITY WITH CSRS COMPONENT

Tom 

Part A. hly Deferred Annuity Without Credit for NAF Service 

CSRS Component 

1. (from Line II-J of Data Sheet) $ 

2. ent Factor (from Line II-L of Data Sheet) X 

3. mponent Basic Annuity (Line 1 x Line 2, round to nearer penny) $ 

4. Reduction for Unpaid Deposit (10% of deposit balance on line I-E of Data Sheet) -

5. mponent Reduced for Unpaid Deposit: (line 3 minus line 4) $ 

6. A+10 Reduction Factor (from Line II-O of Data Sheet) x 

7. mponent Reduced for MRA+10 Age Reduction (Line 5 x Line 6, round to nearer penny) $ 

8. vivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

9. mponent After Reduction for Survivor Election: (Line 7 x Line 8, round to nearer penny) $ 

Deferred Annuity Computation -- FERS Component 

10. verage Salary (from Line II-J of Data Sheet) $ 

11. tirement Factor (from line II-N of Data Sheet) x 

12. mponent Basic Annuity (Line 10 x Line 11, round to nearer penny) $ 

13. FERS MRA+10 Reduction Factor (from Line II-O of Data Sheet) x 

14. mponent Reduced for MRA+10 Age Reduction (Line 12 x Line 13, round to nearer penny) $ 

15. FERS Survivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

16. mponent After Reduction for Survivor Election (Line 14 x Line 15, round to nearer penny) $ 

Combined Benefits 

17. bined Annual Annuity (Line 9 plus Line 16) $ 

18. bined Monthly Annuity (Line 17 ÷ 12, rounded to lower dollar) $ 

19. omponent Monthly Annuity Before Redeposit Reduction (Line 9 ÷ 12, rounded to lower 

dollar) 

-

20. mponent Monthly Annuity (Line 18 minus Line 19) $ 

Reduction to CSRS Component for Unpaid Redeposit for Refunded Service Ending Before 10/01/90 

21. Unpaid Redeposit Balance for Refunded Service Ending Before 10/01/90 (From Line I-F of Data 

Sheet) 

$ 

22. Value Factor for Age When Deferred Annuity Could Begin (From Line II-C of Data Sheet) ÷ 

23. n for Unpaid Redeposit (Line 21 divided by Line 22, round to the higher dollar) $ 

Monthly Annuity Rates Payable – CSRS and FERS Components 

24. CSRS Component Monthly Annuity (Line 19 minus Line 23) $ 

25. FERS Component Monthly Annuity (From Line 20) $ 

Survivor Annuity Computation 

26. bined Annuity Before Survivor Reduction (Line 7 plus Line 14) $ 

27. urvivor Election (50% or 25% of Annuity) x 

28. ual Survivor Benefit (Line 26 x Line 27) $ 

29. onthly Survivor Benefit (Line 28 ÷ 12, rounded to lower dollar) $ 

Computing the Gross Mont NA 

High-3 Average Salary 

CSRS Retirem

CSRS Co

$ 

CSRS Co

FERS MR

CSRS Co

FERS Sur

CSRS Co

High-3 A

FERS Re

FERS Co

FERS Co

FERS Co

Com

Com

CSRS C $ 

FERS Co

Present 

Reductio

Com

S

Ann

M

BAL 03-102 January 22, 2003 

Attachment 2 Page 26 
CREDITING NAF UNDER PL 107-107 -- FERS WITH CSRS COMPONENT COMPUTATION CONTINUED 

Tom 

Part B – Immediate Annuity Computation (Equals Present Value of Deferred Annuity) 

CSRS Component 

30. omponent Monthly Annuity (from Line 24 or Line II-G of Data Sheet)) $535.00 

31. esent Value Factor Based on Employee’s Age on Date Deferred Annuity Could Begin 

(from line II-C of Data Sheet) x 11.4 

32. Factor Corresponding to the time between the dates the immediate and deferred 

annuities begin (from line II-F of Data Sheet) 

x 26625 

33. Value of Deferred Annuity -- CSRS Component (Line 30 x Line 31 x Line 32, round to nearer 

penny) $104,800.36 

34. actor Based on Employee’s Age as of the Date the mmediate Annuity 

Begins (from Line I-C of Data Sheet) ÷ 216.2 

35. onthly CSRS Component Payable (Line 33 ÷ Line 34, round to lower dollar) $484.00 

FERS Component 

36. mponent Monthly Annuity (from line 25 or Line II-H of Data Sheet) $226.00 

37. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) x 67.0 

38. Factor Corresponding to the time between the dates the immediate annuity and the 

deferred annuity begin (from line II-F of Data Sheet) 

x 926625 

39. Value of Deferred Annuity -- FERS Component (Line 36 x Line 37 x Line 38, round to nearer 

penny) $34,972.68 

40. esent Value Factor Based on Employee’s Age on the Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 167.3 

41. onthly FERS Component Payable (Line 39 ÷ Line 40, round to lower dollar) $209.00 

Combined Benefit – Gross Monthly Annuity Payable if NAF Service is Used to Qualify for Immediate Retirement 

42. onthly Annuity Payable (Line 35 + Line 41) $693.00 

Part C – Survivor Annuity Computation (Equals Present Value of Survivor Annuity) 

43. onthly Survivor Annuity from Deferred Annuity Computation (from Line 29 or Line II-I of 

Data Sheet) 

$423.00 

44. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) 

x 7.0 

45. Discount Factor Corresponding to the time between the dates the immediate annuity and the 

deferred annuity begin (from line II-F of Data Sheet) 

x 26625 

46. Value of Deferred Survivor Annuity (Line 43 x Line 44 x Line 45, round to nearer penny) $65,457.72 

47. esent Value Factor Based on Employee’s Age on Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 167.3 

48. onthly Survivor Annuity (Line 46 ÷ Line 47, round to lower dollar) $391.00 

CSRS C

CSRS Pr 2

Discount .9

Present 

CSRS Present Value F I

Gross M

FERS Co

FERS Pr 1

Discount .

Present 

FERS Pr

Gross M

Gross M

Gross M

FERS Pr 16

.9

Present 

FERS Pr

Gross M

BAL 03-102 January 22, 2003 

Attachment 2 Page 27 
--

-- 

MARY ANN BACKGROUND INFORMATION

Date of Birth: 12-12-1953 

(Minimum Retirement Age (MRA) = 56y) 

Retirement Date: 11-15-2002 (Discontinued Service) 

Date Immediate Annuity Begins: 11-16-2002 

Age at Date Immediate Annuity 

Begins: 

48y 11m 04d 

Service History: 05-23-1971 to 09-23-1972 (CSRS Non-Ded.) 1y 4m 1d 

09-24-1972 to 12-08-1982 (CSRS-Refunded): 10y 2m 15d 

02-23-1983 to 08-24-1992 (NAF): 9y 6m 2d 

10-30-1995 to 11-15-2002 (Offset-FERS) 7y 0m 16d 

Sick Leave Credit: 33 hours 0y 0m 6d 

Total Service Used to Determine 

Eligibility for Immediate 

(Discontinued Service)Retirement: 

28y 1m 14d (includes NAFI service) 

Deposit Balance for Pre-10/1/82 

Non-deduction Service (as of 

11/16/02): 

$825.00 

Redeposit Balance for Pre-10/1/90 

Refunded Service (as of 11/16/02): $21,725.00 

High-3 Average Salary: $71,350 

Survivor Election Maximum Election 

Total Service Used to Compute a 

Deferred Annuity: CSRS Component: 11y 6m (does not include NAFI service or 

unused sick leave credit) 

FERS Component: 7y 0 m 

Date Used to Compute Deferred 

Annuity: 01-01-2010 (first of month after reaching MRA) 

Age at Date Used to Compute 

Deferred Annuity: 

56y 0m 19d 

Years and Full Months Between 

Commencing Date of Immediate 

Annuity and Date Used to Compute 

Deferred Annuity 

7y 1m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 28 
----- 

----- 

----- 

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for FERS Computation With A CSRS Component) 

Mary Ann 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

Present Value Factors Corresponding to Employee’s Age on Date Annuity Begins 

A. Date Annuity Begins: 11/16/2002 

B. Employee’s Age on Date Annuity Begins: 48y 11m 4d 

C. CSRS Present Value Factor (from CSRS Present Value Factor Chart): 244.8 

D. FERS Present Value Factor (from FERS Present Value Factor Chart): 171.0 

Unpaid CSRS Deposit/Redeposit Balances as of Date Immediate Annuity Begins 

E. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 825.00 

F. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 21,725.00 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Date Used to Compute Deferred Annuity (Use the Earliest Date Deferred Annuity 

Could Begin Unless Employee Has At Least 20 Years of Non-NAF Service, Then Use 

First of Month After Employee’s 60th Birthday ): 

01/01/2010 

B. Employee’s Age as of Date Used to Compute Deferred Annuity: 56y 0m 19d 

C. CSRS Present Value Factor Corresponding to Employee’s Age as of Date 

Used To Compute Deferred Annuity (From CSRS Present Value Factor Chart): 

206.6 

D. FERS Present Value Factor Corresponding to Employee’s Age as of Date 

Used to Compute Deferred Annuity (From FERS Present Value Factor Chart) 

166.7 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Used to Compute Deferred Annuity: 

7y 1m 

F. Discount Factor Corresponding to Total Years and Full Months Between the 

Beginning Date of the Immediate and Date Used to Compute Deferred Annuity 

(From Discount Factors Chart): 

.629594 

If the Deposit and Redeposit balances in Lines I-E and I-F above are both $0.00, Complete G Through I and then 

proceed to Part B the Worksheet. Otherwise, skip to line J. 

G. Deferred Gross Monthly CSRS Component (after reductions for age and survivor 

election as appropriate) 

$ 

H. Deferred Gross Monthly FERS Component (after reductions for age and survivor 

election as appropriate) 

$ 

I. Deferred Gross Monthly Survivor Rate $ 

If Employee Owes either a CSRS Pre-10/1/82 Deposit or a CSRS Redeposit for Refunded Service Ending 

Before 10/1/90 Complete J Through O and then proceed to Part A of the Worksheet. 

J. High-3 Average Salary $ 71,350.00 

K. Total Service Used In CSRS Component (years/months, excluding sick leave) 11y 6m 

L. CSRS Retirement Factor Corresponding to CSRS Component Service (from 

CSRS Retirement Factor Chart): 

.192500 

M. Total Service Used In FERS Component (years/months) 7y 0m 

N. FERS Retirement Factor Corresponding to FERS Component Service (from 

FERS 1% Retirement Factor Chart): 

.070000 

O. MRA+10 Reduction Factor (From MRA+10 Reduction Factor Chart, if applicable): .704167 

BAL 03-102 January 22, 2003 

Attachment 2 Page 29 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET – FERS ANNUITY WITH CSRS COMPONENT

MARY ANN 

Part A. ed Annuity Without Credit for NAF Service 

CSRS Component 

1. (from Line II-J of Data Sheet) $71,350.00 

2. ent Factor (from Line II-L of Data Sheet) X 500 

3. mponent Basic Annuity (Line 1 x Line 2, round to nearer penny) $13,734.88 

4. Reduction for Unpaid Deposit (10% of deposit balance on line I-E of Data Sheet) - .50 

5. mponent Reduced for Unpaid Deposit: (line 3 minus line 4) $13,652.38 

6. A+10 Reduction Factor (from Line II-O of Data Sheet) x 704167 

7. mponent Reduced for MRA+10 Age Reduction (Line 5 x Line 6, round to nearer penny) $9,613.56 

8. vivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 9 

9. mponent After Reduction for Survivor Election: (Line 7 x Line 8, round to nearer penny) $8,652.20 

Deferred Annuity Computation -- FERS Component 

10. verage Salary (from Line II-J of Data Sheet) $71,350.00 

11. tirement Factor (from line II-N of Data Sheet) x 070000 

12. mponent Basic Annuity (Line 10 x Line 11, round to nearer penny) $4,994.50 

13. FERS MRA+10 Reduction Factor (from Line II-O of Data Sheet) x 704167 

14. mponent Reduced for MRA+10 Age Reduction (Line 12 x Line 13, round to nearer penny) $3,516.96 

15. FERS Survivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 9 

16. mponent After Reduction for Survivor Election (Line 14 x Line 15, round to nearer penny) $3,165.26 

Combined Benefits 

17. bined Annual Annuity (Line 9 plus Line 16) $11,817.46 

18. bined Monthly Annuity (Line 17 ÷ 12, rounded to lower dollar) $984.00 

19. omponent Monthly Annuity Before Redeposit Reduction (Line 9 ÷ 12, rounded to lower 

dollar) 

- 1.00 

20. mponent Monthly Annuity (Line 18 minus Line 19) $263.00 

Reduction to CSRS Component for Unpaid Redeposit for Refunded Service Ending Before 10/01/90 

21. Unpaid Redeposit Balance for Refunded Service Ending Before 10/01/90 (From Line I-F of Data 

Sheet) 

$21,725.00 

22. Value Factor for Age When Deferred Annuity Could Begin (From Line II-C of Data Sheet) ÷ 206.6 

23. n for Unpaid Redeposit (Line 21 divided by Line 22, round to the higher dollar) $106.00 

Monthly Annuity Rates Payable – CSRS and FERS Components 

24. CSRS Component Monthly Annuity (Line 19 minus Line 23) $615.00 

25. FERS Component Monthly Annuity (From Line 20) $263.00 

Survivor Annuity Computation 

26. bined Annuity Before Survivor Reduction (Line 7 plus Line 14) $13,130.52 

27. urvivor Election (50% or 25% of Annuity) x 50 

28. ual Survivor Benefit (Line 26 x Line 27) $6,565.26 

29. onthly Survivor Benefit (Line 28 ÷ 12, rounded to lower dollar) $547.00 

Computing the Gross Monthly Deferr

High-3 Average Salary 

CSRS Retirem .192

CSRS Co

$82

CSRS Co

FERS MR .

CSRS Co

FERS Sur .

CSRS Co

High-3 A

FERS Re .

FERS Co

.

FERS Co

.

FERS Co

Com

Com

CSRS C $72

FERS Co

Present 

Reductio

Com

S .

Ann

M

BAL 03-102 January 22, 2003 

Attachment 2 Page 30 
CREDITING NAF UNDER PL 107-107 -- FERS WITH CSRS COMPONENT COMPUTATION CONTINUED 

Mary Ann 

Part B – Immediate Annuity Computation (Equals Present Value of Deferred Annuity) 

CSRS Component 

30. omponent Monthly Annuity (from Line 24 or Line II-G of Data Sheet)) $615.00 

31. esent Value Factor Based on Employee’s Age on Date Deferred Annuity Could Begin 

(from line II-C of Data Sheet) x 06.6 

32. Factor Corresponding to the Time Between the Date the Immediate and Deferred 

Annuities Begin (from line II-F of Data Sheet) 

x 29594 

33. Value of Deferred Annuity -- CSRS Component (Line 30 x Line 31 x Line 32, round to nearer 

penny) $79,995.58 

34. actor Based on Employee’s Age as of the Date the mmediate Annuity 

Begins (from Line I-C of Data Sheet) ÷ 244.8 

35. onthly CSRS Component Payable (Line 33 ÷ Line 34, round to lower dollar) $326.00 

FERS Component 

36. mponent Monthly Annuity (from line 25 or Line II-H of Data Sheet) $263.00 

37. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) x 66.7 

38. Discount Factor Corresponding to the Time Between the Dates the Immediate and Deferred 

Annuities Begin (from line II-F of Data Sheet) 

x 629594 

39. Value of Deferred Annuity -- FERS Component (Line 36 x Line 37 x Line 38, round to nearer 

penny) $27,602.72 

40. esent Value Factor Based on Employee’s Age on the Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 171.0 

41. onthly FERS Component Payable (Line 39 ÷ Line 40, round to lower dollar) $161.00 

Combined Benefit – Gross Monthly Annuity Payable if NAF Service is Used to Qualify for Immediate Retirement 

42. onthly Annuity Payable (Line 35 + Line 41) $487.00 

Part C – Survivor Annuity Computation (Equals Present Value of Survivor Annuity) 

43. onthly Survivor Annuity from Deferred Annuity Computation (from Line 29 or Line II-I of 

Data Sheet) 

$547.00 

44. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) 

x 6.7 

45. Factor Corresponding to the time between the immediate and deferred commencing 

dates (from line II-F of Data Sheet) 

x 29594 

46. Value of Deferred Survivor Annuity (Line 43 x Line 44 x Line 45, round to nearer penny) $57,409.47 

47. esent Value Factor Based on Employee’s Age on Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 171.0 

48. onthly Survivor Annuity (Line 46 ÷ Line 47, round to lower dollar) $335.00 

CSRS C

CSRS Pr 2

Discount .6

Present 

CSRS Present Value F I

Gross M

FERS Co

FERS Pr 1

.

Present 

FERS Pr

Gross M

Gross M

Gross M

FERS Pr 16

Discount .6

Present 

FERS Pr

Gross M

BAL 03-102 January 22, 2003 

Attachment 2 Page 31 
LEE -- BACKGROUND INFORMATION

Date of Birth: 10-16-1956 

(Minimum Retirement Age (MRA) = 56y) 

Retirement Date: 04-30-2003 (Early Optional) 

Annuity Commencing Date: 05-01-2003 

Age at Commencing Date: 46y 6m 16d 

Service History: 09-24-1974 to 12-08-1981 (NAF): 7y 2m 15d 

02-23-1982 to 08-24-1994 (CSRS): 12y 6m 2d 

10-30-1995 to 04-30-2003 (Offset/FERS) 7y 6m 1d 

Total Service Used to Determine Eligibility 

for Immediate (Early Optional)Retirement: 

27y 2m 18d (includes NAFI service) 

Total Service Used to Compute a 

Deferred Annuity: 

CSRS Component: 12y 6m (not including NAF service) 

FERS Component: 7y 6m (not including NAF service) 

Total: 20y 0m 

High-3 Average Salary: $62,500 

Survivor Election Maximum Election 

Date Used to Compute Deferred Annuity: 11-01-2016 (first dayt of month after age 60) 

Age at Date Used to Compute Deferred 

Annuity: 60y 0m 16d 

Gross Monthly Deferred Annuity After 

Appropriate Reductions: 

CSRS Component: $996.00 (from annuity estimate software) 

FERS Component: $351.00 (from annuity estimate software) 

Gross Monthly Survivor Rate $748.00 (from annuity estimate software) 

Years and Full Months Between Date 

Immediate Annuity Begins and Date Used 

to Compute Deferred Annuity: 13y 6m 

BAL 03-102 January 22, 2003 

Attachment 2 Page 32 
------ 

------ 

------ 

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET 

(Data Needed for FERS Computation With A CSRS Component) 

Lee 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

Present Value Factors Corresponding to Employee’s Age on Date Annuity Begins 

A. Date Annuity Begins: 05/01/2003 

B. Employee’s Age on Date Annuity Begins: 46y 6m 16d 

C. CSRS Present Value Factor (from CSRS Present Value Factor Chart): 254.0 

D. FERS Present Value Factor (from FERS Present Value Factor Chart): 172.5 

Unpaid CSRS Deposit/Redeposit Balances as of Date Immediate Annuity Begins 

E. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 0.00 

F. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 0.00 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Date Used to Compute Deferred Annuity (Use the Earliest Date Deferred Annuity 

Could Begin Unless Employee Has 20 Years Non-NAF Service, Then Use First of 

Month After Employee’s 60th Birthday): 

11/01/2016 

B. Employee’s Age as of Date Used to Compute theDeferred Annuity: 60y 0m 16d 

C. CSRS Present Value Factor Corresponding to Employee’s Age as of Date 

Used to Compute Deferred Annuity (From CSRS Present Value Factor Chart): 

187.9 

D. FERS Present Value Factor Corresponding to Employee’s Age as of Date 

Used to Compute Deferred Annuity (From FERS Present Value Factor Chart) 

167.3 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date of Deferred Annuity Could Begin: 

13y 6m 

F. Discount Factor Corresponding to Total Years and Full Months Between the 

Beginning Dates of the Immediate and Deferred Annuities (From Discount 

Factors Chart): 

.414032 

If the Deposit and Redeposit balances in Lines I-E and I-F above are both $0.00, Complete G Through I and then 

proceed to Part B the Worksheet. Otherwise, skip to line J. 

G. Deferred Gross Monthly CSRS Component (after reductions for age and survivor 

election as appropriate) 

$ 996.00 

H. Deferred Gross Monthly FERS Component (after reductions for age and survivor 

election as appropriate) 

$ 351.00 

I. Deferred Gross Monthly Survivor Rate $ 748.00 

If Employee Owes either a CSRS Pre-10/1/82 Deposit or a CSRS Redeposit for Refunded Service Ending 

Before 10/1/90 Complete J Through O and then proceed to Part A of the Worksheet. 

J. High-3 Average Salary $ 

K. Total Service Used In CSRS Component (years/months, excluding sick leave) ------

L. CSRS Retirement Factor Corresponding to CSRS Component Service (from 

CSRS Retirement Factor Chart): 

M. Total Service Used In FERS Component (years/months) ------

N. FERS Retirement Factor Corresponding to FERS Component Service (from 

FERS 1% Retirement Factor Chart): 

O. MRA+10 Reduction Factor (From MRA+10 Reduction Factor Chart, if applicable): ------

BAL 03-102 January 22, 2003 

Attachment 2 Page 33 
--- 

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET – FERS ANNUITY WITH CSRS COMPONENT

Lee 

Part A. hly Deferred Annuity Without Credit for NAF Service 

CSRS Component 

1. (from Line II-J of Data Sheet) $ 

2. ent Factor (from Line II-L of Data Sheet) X 

3. mponent Basic Annuity (Line 1 x Line 2, round to nearer penny) $ 

4. Reduction for Unpaid Deposit (10% of deposit balance on line I-E of Data Sheet) -

5. mponent Reduced for Unpaid Deposit: (line 3 minus line 4) $ 

6. A+10 Reduction Factor (from Line II-O of Data Sheet) x 

7. mponent Reduced for MRA+10 Age Reduction (Line 5 x Line 6, round to nearer penny) $ 

8. vivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

9. mponent After Reduction for Survivor Election: (Line 7 x Line 8, round to nearer penny) $ 

Deferred Annuity Computation -- FERS Component 

10. verage Salary (from Line II-J of Data Sheet) $ 

11. tirement Factor (from line II-N of Data Sheet) x 

12. mponent Basic Annuity (Line 10 x Line 11, round to nearer penny) $ 

13. FERS MRA+10 Reduction Factor (from Line II-O of Data Sheet) x 

14. mponent Reduced for MRA+10 Age Reduction (Line 12 x Line 13, round to nearer penny) $ 

15. FERS Survivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

16. mponent After Reduction for Survivor Election (Line 14 x Line 15, round to nearer penny) $ 

Combined Benefits 

17. bined Annual Annuity (Line 9 plus Line 16) $ 

18. bined Monthly Annuity (Line 17 ÷ 12, rounded to lower dollar) $ 

19. omponent Monthly Annuity Before Redeposit Reduction (Line 9 ÷ 12, rounded to lower 

dollar) 

-

20. mponent Monthly Annuity (Line 18 minus Line 19) $ 

Reduction to CSRS Component for Unpaid Redeposit for Refunded Service Ending Before 10/01/90 

21. Unpaid Redeposit Balance for Refunded Service Ending Before 10/01/90 (From Line I-F of Data 

Sheet) 

$ 

22. Value Factor for Age When Deferred Annuity Could Begin (From Line II-C of Data Sheet) ÷ 

23. n for Unpaid Redeposit (Line 21 divided by Line 22, round to the higher dollar) $ 

Monthly Annuity Rates Payable – CSRS and FERS Components 

24. CSRS Component Monthly Annuity (Line 19 minus Line 23) $ 

25. FERS Component Monthly Annuity (From Line 20) $ 

Survivor Annuity Computation 

26. bined Annuity Before Survivor Reduction (Line 7 plus Line 14) $ 

27. urvivor Election (50% or 25% of Annuity) x 

28. ual Survivor Benefit (Line 26 x Line 27) $ 

29. onthly Survivor Benefit (Line 28 ÷ 12, rounded to lower dollar) $ 

Computing the Gross Mont NA 

High-3 Average Salary 

CSRS Retirem

CSRS Co

$ 

CSRS Co

FERS MR

CSRS Co

FERS Sur

CSRS Co

High-3 A

FERS Re

FERS Co

FERS Co

FERS Co

Com

Com

CSRS C $ 

FERS Co

Present 

Reductio

Com

S

Ann

M

BAL 03-102 January 22, 2003 

Attachment 2 Page 34 
CREDITING NAF UNDER PL 107-107 -- FERS WITH CSRS COMPONENT COMPUTATION CONTINUED 

Lee 

Part B – Immediate Annuity Computation (Equals Present Value of Deferred Annuity) 

CSRS Component 

30. omponent Monthly Annuity (from Line 24 or Line II-G of Data Sheet)) $996.00 

31. esent Value Factor Based on Employee’s Age on Date Deferred Annuity Could Begin 

(from line II-C of Data Sheet) x 87.9 

32. Factor Corresponding to the time between the dates the immediate and deferred 

annuities begin (from line II-F of Data Sheet) 

x 14032 

33. Value of Deferred Annuity -- CSRS Component (Line 30 x Line 31 x Line 32, round to nearer 

penny) $77,485.43 

34. actor Based on Employee’s Age as of the Date the mmediate Annuity 

Begins (from Line I-C of Data Sheet) ÷ 254.0 

35. onthly CSRS Component Payable (Line 33 ÷ Line 34, round to lower dollar) $305.00 

FERS Component 

36. mponent Monthly Annuity (from line 25 or Line II-H of Data Sheet) $351.00 

37. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) x 67.3 

38. Factor Corresponding to the time between the dates the immediate annuity and the 

deferred annuity begin (from line II-F of Data Sheet) 

x 414032 

39. Value of Deferred Annuity -- FERS Component (Line 36 x Line 37 x Line 38, round to nearer 

penny) $24,312.91 

40. esent Value Factor Based on Employee’s Age on the Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 172.5 

41. onthly FERS Component Payable (Line 39 ÷ Line 40, round to lower dollar) $140.00 

Combined Benefit – Gross Monthly Annuity Payable if NAF Service is Used to Qualify for Immediate Retirement 

42. onthly Annuity Payable (Line 35 + Line 41) $445.00 

Part C – Survivor Annuity Computation (Equals Present Value of Survivor Annuity) 

43. onthly Survivor Annuity from Deferred Annuity Computation (from Line 29 or Line II-I of 

Data Sheet) 

$748.00 

44. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) 

x 7.3 

45. Discount Factor Corresponding to the time between the dates the immediate annuity and the 

deferred annuity begin (from line II-F of Data Sheet) 

x 14032 

46. Value of Deferred Survivor Annuity (Line 43 x Line 44 x Line 45, round to nearer penny) $51,812.13 

47. esent Value Factor Based on Employee’s Age on Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 172.5 

48. onthly Survivor Annuity (Line 46 ÷ Line 47, round to lower dollar) $300.00 

CSRS C

CSRS Pr 1

Discount .4

Present 

CSRS Present Value F I

Gross M

FERS Co

FERS Pr 1

Discount .

Present 

FERS Pr

Gross M

Gross M

Gross M

FERS Pr 16

.4

Present 

FERS Pr

Gross M

BAL 03-102 January 22, 2003 

Attachment 2 Page 35 
Blank Worksheets 

We’ve included blank worksheets and data sheets for your convenience. You can reproduce the appropriate worksheet to 

compute estimates for employees who elect to use NAF service to qualify for immediate retirement. 

BAL 03-102 January 22, 2003 

Attachment 2 Page 36 
CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107

DATA SHEET

(Data Needed for Computation) 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 

B. Employees Age on Date Annuity Begins: 

C. Present Value Factor Corresponding to Employee’s Age on Date Annuity 

Begins (from CSRS Present Value Factor Chart): 

D. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 

E. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 

II. Deferred Annuity Information (not including credit for NAF service) 

If employee owes either a CSRS deposit for pre-10/1/82 non-deduction service or a redeposit for refunded 

service that ended before 10/1/90,the reductions to the deferred annuity for unpaid deposit and redeposit 

should be based on the deposit and redeposit balances shown in Line I-D and I-E above. If your annuity 

estimate software can compute the monthly deferred annuity using the appropriate deposit/redeposit 

balances, use your software to compute the monthly annuity rate and survivor rate. Skip Line II-A and enter 

the monthly annuity rate and survivor rate in Lines II-B and II-C. If your annuity estimate software adds 

additional interest to the deposit and redeposit balances before computing the monthly deferred annuity rate, 

enter the Basic Annual Annuity (before any reductions) your annuity estimate software produces in Line II-A 

and skip Lines II-B and II-C. You will need to compute the monthly deferred annuity and survivor annuity 

manually in Part A of the NAF annuity estimate worksheet. If the deposit and redeposit balances in Line I-D 

and I-E above are both $0.00, skip Line A and enter the deferred monthly annuity rate and survivor rate 

computed on your annuity estimate software in Lines II-B and II-C. 

A. Basic Annual Annuity Before Any Reductions $ 

B. Gross Monthly Annuity Rate (after all appropriate reductions) $ 

C. Gross Monthly Annuity Survivor Rate (if applicable) $ 

D. Present Value Factor Corresponding to Age 62 (from CSRS Present Value 

Factor Chart) 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Deferred Annuity Would Normally Begin (62nd Birthday): 

F. Discount Factor Corresponding to Total Years and Full Months Between the 

Date the Immediate Annuity Begins and the Date the Deferred Annuity 

Would Normally Begin (from Discount Factor Chart): 

Note, if you entered the gross monthly annuity rates on lines II-B and II-C above, 

skip Part A of the CSRS Annuity Computation Using NAF Service 

worksheet and begin at Part B. 

BAL 03-102 January 22, 2003 

Attachment 2 Page 37 
CSRS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE UNDER 

SECTION 1132 OF PUBLIC LAW 107-107 -- WORKSHEET

Part A: omputing the Gross Monthly Deferred Annuity Without Credit for NAF Service 

1. Deferred Basic Annual Annuity (Before Any Reductions - from Line II-A of Data Sheet) $ 

2. Unpaid Deposit Reduction (10% of Unpaid Deposit Balance on Line I-D of Data Sheet:) - $ 

3. Annuity Reduced for Unpaid Deposit (Line 1 minus Line 2) $ 

4. Reduction for Survivor Election 

 Survivor Base: 

 Minus: $3,600.00 X .025 = 

 Base > $3,600 X .10 = + 

Total Reduction $ 

5. Annuity Reduced for Survivor Election (Line 3 minus Line 4) $ 

6. Gross Monthly Annuity (Divide Line 5 by 12 and round to lower dollar): $ 

7. Reduction for Unpaid Redeposit 

÷ = $ 

Unpaid Redeposit from Line IE of Data Sheet Present Value Factor for Age 62 

from Line II-D of Data Sheet 

(Round to Higher 

Dollar) 

8. Gross Monthly Annuity After Reduction for Unpaid Redeposit (Line 6 minus Line 7) $ 

Survivor Rate 

9. Base (from Line 4) $ 

Times 55% X 55% 

10. Annual Survivor Benefit: (Line 9 x 55% - round to nearer penny) $ 

11. Monthly Survivor Benefit (divide amount in Line 10 nd round to lower dollar) $ 

Part B: Annuity Computation (Present Value of Deferred Annuity) 

12. Deferred Gross Monthly Annuity Rate (from Line 8 or Line II-B of Data Sheet) $ 

13. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 

14. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) X 

15. Present Value of Deferred Annuity (Line 12 x Line 13 x Line 14, round to nearer penny) $ 

16. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

C

Survivor 

by 12 a

Immediate 

17. Gross monthly annuity reduced for NAF service (divide Line 15 by Line 16 and round to 

lower dollar) 

$ 

Survivor Annuity Computation: 

18. Gross Monthly Survivor Base (from Line 11 or Line II-C of Data Sheet) $ 

19. Present Value Factor for Age 62 (from Line II-D of Data Sheet) X 

20. Discount Factor Corresponding to the time between the dates the immediate and 

deferred annuities begin (from Line II-F of Data Sheet) 

X 

21. Present Value of Survivor Annuity (Line 18 x Line 19 x Line 20, round to nearer penny) $ 

22. Present Value Factor Based on Employee’s current age (from Line I-C of data sheet) ÷ 

23. Gross monthly survivor annuity reduced for NAF service (divide Line 21 by Line 22 and 

round to lower dollar) 

$ 

BAL 03-102 January 22, 2003 

Attachment 2 Page 38 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for Computation -- No CSRS Component) 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

A. Date Annuity Begins: 

B. Employee’s Age as of Date Annuity Begins: 

C. Present Value Factor Corresponding to Employee’s Age as of Date Annuity 

Begins (from FERS Present Value Factor Chart) 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Gross Monthly Annuity Rate (after reduction for age and survivor election, if 

applicable): 

$ 

B. Gross Monthly Survivor Annuity Rate (if applicable): $ 

C. Date Deferred Annuity Could Begin (Use the Earliest Date Deferred Annuity 

Could Begin): 

D. Employee’s Age as of Earliest Date Deferred Annuity Could Begin: 

E. Present Value Factor Corresponding to Employee’s Age as of Earliest Date 

Deferred Annuity Could Begin (from FERS Present Value Factor Chart): 

F. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date Deferred Annuity Could Begin: 

G. Discount Factor Corresponding to Total Years and Full Months Between the 

Date the Immediate Annuity Begins and the Date the Deferred Annuity 

Could Begin (from Discount Factor Chart): 

BAL 03-102 January 22, 2003 

Attachment 2 Page 39 
--

FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET NO CSRS COMPONENT 

Immediate Annuity Computation (Equals the Present Value of the Deferred Annuity) 

1. Deferred Monthly Annuity Rate (From Line II-A of Data Sheet) $ 

2. Present Value Factor Corresponding to Employee’s Age as of Date Deferred 

Annuity Begins (from Line II-E of Data Sheet) X 

3. Discount Factor Corresponding to the time between the beginning dates of the 

immediate and deferred annuities (from Line II-G of Data Sheet) X 

4. Present Value of Deferred Annuity (Line 1 x Line 2 x Line 3, round to neared penny) $ 

5. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

6. Gross monthly annuity reduced for NAF service (divide Line 4 by Line 5 and round to 

lower dollar) $ 

Survivor Annuity Computation: 

7. Gross Monthly Survivor Annuity (from line II-B of Data Sheet) $ 

8. Present Value Factor Corresponding to Employee’s Age as of Date Deferred 

Annuity Begins (from Line II-E of Data Sheet) X 

9. Discount Factor Corresponding to the time between the beginning dates of the 

immediate and deferred annuities (from Line II-G of Data Sheet) X 

10. Present Value of Survivor Annuity (Line 7 x Line 8 x Line 9, round to nearer penny) $ 

11. Present Value Factor Based on Employee’s current age (from Line I-C of data 

sheet) ÷ 

12. Gross monthly survivor annuity reduced for NAF service (divide Line 10 by Line 11 

and round to lower dollar) $ 

BAL 03-102 January 22, 2003 

Attachment 2 Page 40 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

DATA SHEET

(Data Needed for FERS Computation With A CSRS Component) 

I. Immediate Annuity Information (using NAF service to qualify for immediate retirement) 

Present Value Factors Corresponding to Employee’s Age on Date Annuity Begins 

A. Date Annuity Begins: 

B. Employee’s Age on Date Annuity Begins: 

C. CSRS Present Value Factor (from CSRS Present Value Factor Chart): 

D. FERS Present Value Factor (from FERS Present Value Factor Chart): 

Unpaid CSRS Deposit/Redeposit Balances as of Date Immediate Annuity Begins 

E. Unpaid Deposit Balance for Pre-10/1/82 Non-deduction Service: $ 

F. Unpaid Redeposit Balance for Refunded Service Ending Before 10/1/90: $ 

II. Deferred Annuity Information (excluding credit for NAF service) 

A. Date Deferred Annuity Could Begin (Use the Earliest Date Deferred Annuity Could 

Begin): 

B. Employee’s Age as of Date Deferred Annuity Could Begin: 

C. CSRS Present Value Factor Corresponding to Employee’s Age as of Date 

Deferred Annuity Could Begin (From CSRS Present Value Factor Chart): 

D. FERS Present Value Factor Corresponding to Employee’s Age as of Date 

Deferred Annuity Could Begin (From FERS Present Value Factor Chart) 

E. Total Years and Full Months Between Date Immediate Annuity Begins and 

Date of Deferred Annuity Could Begin: 

F. Discount Factor Corresponding to Total Years and Full Months Between the 

Beginning Dates of the Immediate and Deferred Annuities (From Discount 

Factor Chart): 

If the Deposit and Redeposit balances in Lines I-E and I-F above are both $0.00, Complete G Through I and then 

proceed to Part B of the Worksheet. Otherwise, skip to line J. 

G. Deferred Gross Monthly CSRS Component (after reductions for age and survivor 

election as appropriate) 

$ 

H. Deferred Gross Monthly FERS Component (after reductions for age and survivor 

election as appropriate) 

$ 

I. Deferred Gross Monthly Survivor Rate $ 

If Employee Owes either a CSRS Pre-10/1/82 Deposit or a CSRS Redeposit for Refunded Service Ending 

Before 10/1/90 Complete J Through O and then proceed to Part A of the Worksheet. 

J. High-3 Average Salary $ 

K. Total Service Used In CSRS Component (years/months, excluding sick leave) 

L. CSRS Retirement Factor Corresponding to CSRS Component Service (from 

CSRS Retirement Factor Chart): 

M. Total Service Used In FERS Component (years/months) 

N. FERS Retirement Factor Corresponding to FERS Component Service (from 

FERS 1% Retirement Factor Chart): 

O. MRA+10 Reduction Factor (From MRA+10 Reduction Factor Chart, if applicable): 

BAL 03-102 January 22, 2003 

Attachment 2 Page 41 
FERS ANNUITY COMPUTATION USING NAF SERVICE CREDITABLE 

UNDER SECTION 1132 OF PUBLIC LAW 107-107 

WORKSHEET – FERS ANNUITY WITH CSRS COMPONENT

Part A. ed Annuity Without Credit for NAF Service 

CSRS Component 

1. (from Line II-J of Data Sheet) $ 

2. ent Factor (from Line II-L of Data Sheet) x 

3. mponent Basic Annuity (Line 1 x Line 2, round to nearer penny) $ 

4. Reduction for Unpaid Deposit (10% of deposit balance on line I-E of Data Sheet) -

5. mponent Reduced for Unpaid Deposit: (line 3 minus line 4) $ 

6. A+10 Reduction Factor (from Line II-O of Data Sheet) x 

7. mponent Reduced for MRA+10 Age Reduction (Line 5 x Line 6, round to nearer penny) $ 

8. vivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

9. mponent After Reduction for Survivor Election: (Line 7 x Line 8, round to nearer penny) $ 

Deferred Annuity Computation -- FERS Component 

10. verage Salary (from Line II-J of Data Sheet) $ 

11. tirement Factor (from line II-N of Data Sheet) x 

12. mponent Basic Annuity (Line 10 x Line 11, round to nearer penny) $ 

13. FERS MRA+10 Reduction Factor (from Line II-O of Data Sheet) x 

14. mponent Reduced for MRA+10 Age Reduction (Line 12 x Line 13, round to nearer penny) $ 

15. FERS Survivor Election Factor (.9 for maximum, .95 for partial, 1.0 for no survivor election) x 

16. mponent After Reduction for Survivor Election (Line 14 x Line 15, round to nearer penny) $ 

Combined Benefits 

17. bined Annual Annuity (Line 9 plus Line 16) $ 

18. bined Monthly Annuity (Line 17 ÷ 12, rounded to lower dollar) $ 

19. omponent Monthly Annuity Before Redeposit Reduction (Line 9 ÷ 12, rounded to lower 

dollar) 

-

20. mponent Monthly Annuity (Line 18 minus Line 19) $ 

Reduction to CSRS Component for Unpaid Redeposit for Refunded Service Ending Before 10/01/90 

21. Unpaid Redeposit Balance for Refunded Service Ending Before 10/01/90 (From Line I-F of Data 

Sheet) 

$ 

22. Value Factor for Age When Deferred Annuity Could Begin (From Line II-C of Data Sheet) ÷ 

23. n for Unpaid Redeposit (Line 21 divided by Line 22, round to the higher dollar) $ 

Monthly Annuity Rates Payable – CSRS and FERS Components 

24. CSRS Component Monthly Annuity (Line 19 minus Line 23) $ 

25. FERS Component Monthly Annuity (From Line 20) $ 

Survivor Annuity Computation 

26. bined Annuity Before Survivor Reduction (Line 7 plus Line 14) $ 

27. urvivor Election (50% or 25% of Annuity) x 

28. ual Survivor Benefit (Line 26 x Line 27) $ 

29. onthly Survivor Benefit (Line 28 ÷ 12, rounded to lower dollar) $ 

Computing the Gross Monthly Deferr

High-3 Average Salary 

CSRS Retirem

CSRS Co

$ 

CSRS Co

FERS MR

CSRS Co

FERS Sur

CSRS Co

High-3 A

FERS Re

FERS Co

FERS Co

FERS Co

Com

Com

CSRS C $ 

FERS Co

Present 

Reductio

Com

S

Ann

M

BAL 03-102 January 22, 2003 

Attachment 2 Page 42 
CREDITING NAF UNDER PL 107-107 -- FERS WITH CSRS COMPONENT COMPUTATION CONTINUED 

Part B – Immediate Annuity Computation (Equals Present Value of Deferred Annuity) 

CSRS Component 

30. omponent Monthly Annuity (from Line 24 or Line II-G of Data Sheet)) $ 

31. esent Value Factor Based on Employee’s Age on Date Deferred Annuity Could Begin 

(from line II-C of Data Sheet) x 

32. Discount Factor Corresponding to the Time Between the Dates the Immediate and Deferred 

Annuities Begin (from line II-F of Data Sheet) 

x 

33. Value of Deferred Annuity -- CSRS Component (Line 30 x Line 31 x Line 32, round to nearer 

penny) $ 

34. actor Based on Employee’s Age as of the Date the mmediate Annuity 

Begins (from Line I-C of Data Sheet) 

÷ 

35. onthly CSRS Component Payable (Line 33 ÷ Line 34, round to lower dollar) $ 

FERS Component 

36. mponent Monthly Annuity (from line 25 or Line II-H of Data Sheet) $ 

37. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) x 

38. Discount Factor Corresponding to the Time Between the Dates the Immediate and Deferred 

Annuities Begin (from line II-F of Data Sheet) 

x 

39. Value of Deferred Annuity -- FERS Component (Line 36 x Line 37 x Line 38, round to nearer 

penny) $ 

40. esent Value Factor Based on Employee’s Age on the Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 

41. onthly FERS Component Payable (Line 39 ÷ Line 40, round to lower dollar) $ 

Combined Benefit – Gross Monthly Annuity Payable if NAF Service is Used to Qualify for Immediate Retirement 

42. onthly Annuity Payable (Line 35 + Line 41) $ 

Part C – Survivor Annuity Computation (Equals Present Value of Survivor Annuity) 

43. onthly Survivor Annuity from Deferred Annuity Computation (from Line 29 or Line II-I of 

Data Sheet) 

$ 

44. esent Value Factor Based on Employee’s Age as of Date Deferred Annuity Could Begin 

(from line II-D of Data Sheet) 

45. Discount Factor Corresponding to the Time Between the Dates the Immediate and Deferred 

Annuities Begin (from line II-F of Data Sheet 

46. Value of Deferred Survivor Annuity (Line 43 x Line 44 x Line 45, round to nearer penny) $ 

47. esent Value Factor Based on Employee’s Age on Date the Immediate Annuity Begins 

(from line I-D of Data Sheet) ÷ 

48. onthly Survivor Annuity (Line 46 ÷ Line 47, round to lower dollar) $ 

CSRS C

CSRS Pr

Present 

CSRS Present Value F I

Gross M

FERS Co

FERS Pr

Present 

FERS Pr

Gross M

Gross M

Gross M

FERS Pr

Present 

FERS Pr

Gross M

BAL 03-102 January 22, 2003 

Attachment 2 Page 43