Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Notices 18265 

CSRS PRESENT VALUE FACTORS APPLICABLE TO ANNUITY PAYABLE FOLLOWING AN ELECTION UNDER SECTION 8339(J) OR (K) OR SECTION

8343A OF TITLE 5, UNITED STATES

CODE, OR UNDER SECTION 1043 OF

PUBLIC LAW 104–106 OR UNDER

SECTION 1132 OF PUBLIC LAW 107– 

107 OR UNDER FERCCA OR FOLLOWING A REDEPOSIT UNDER SECTION 8334(D)(2) OF TITLE 5, UNITED

STATES CODE—Continued 

Age Present value 

factor 

98 .......................................... 28.4 

99 .......................................... 26.7 

100 ........................................ 25.1 

101 ........................................ 23.9 

102 ........................................ 22.6 

103 ........................................ 21.3 

104 ........................................ 20.3 

105 ........................................ 19.5 

106 ........................................ 18.5 

107 ........................................ 16.5 

108 ........................................ 12.9 

109 ........................................ 6.4 

CSRS PRESENT VALUE FACTORS APPLICABLE TO ANNUITY PAYABLE FOLLOWING AN ELECTION UNDER SECTION 1043 OF PUBLIC LAW 104–106 

OR UNDER SECTION 1132 OF PUBLIC LAW 107–107 OR UNDER

FERCCA 

[For ages at calculation below 40] 

Age at calculation 

Present value 

of a monthly 

annuity 

17 .......................................... 402.6 

18 .......................................... 400.1 

19 .......................................... 397.6 

20 .......................................... 395.0 

21 .......................................... 392.3 

22 .......................................... 389.6 

23 .......................................... 386.8 

24 .......................................... 384.0 

25 .......................................... 381.1 

26 .......................................... 378.2 

27 .......................................... 375.2 

28 .......................................... 372.1 

29 .......................................... 369.0 

30 .......................................... 365.8 

31 .......................................... 362.5 

32 .......................................... 359.2 

33 .......................................... 355.8 

34 .......................................... 352.4 

35 .......................................... 348.8 

36 .......................................... 345.2 

37 .......................................... 341.5 

38 .......................................... 337.7 

39 .......................................... 333.9 

U.S. Office of Personnel Management. 

Katherine Archuleta, 

Director. 

[FR Doc. 2015–07677 Filed 4–2–15; 8:45 am] 

BILLING CODE 6325–38–P 

OFFICE OF PERSONNEL 

MANAGEMENT 

Federal Employees’ Retirement 

System; Present Value Factors 

AGENCY: Office of Personnel 

Management. 

ACTION: Notice. 

SUMMARY: The Office of Personnel 

Management (OPM) is providing notice 

of adjusted present value factors 

applicable to retirees who elect to 

provide survivor annuity benefits to a 

spouse based on post-retirement 

marriage, and to retiring employees who 

elect the alternative form of annuity or 

elect to credit certain service with 

nonappropriated fund instrumentalities. 

This notice is necessary to conform the 

present value factors to changes in the 

economic and demographic 

assumptions adopted by the Board of 

Actuaries of the Civil Service 

Retirement System. 

DATES: The revised present value factors 

apply to survivor reductions or 

employee annuities that commence on 

or after October 1, 2015. 

ADDRESSES: Send requests for actuarial 

assumptions and data to the Board of 

Actuaries, care of Gregory Kissel, Senior 

Actuary, Office of Planning and Policy 

Analysis, Office of Personnel 

Management, Room 4307, 1900 E Street 

NW., Washington, DC 20415. 

FOR FURTHER INFORMATION CONTACT: 

Karla Yeakle, (202) 606–0299. 

SUPPLEMENTARY INFORMATION: Several 

provisions of the Federal Employees’ 

Retirement System (FERS) require 

reduction of annuities on an actuarial 

basis. Under each of these provisions, 

OPM is required to issue regulations on 

the method of determining the 

reduction to ensure that the present 

value of the reduced annuity plus a 

lump-sum equals, to the extent 

practicable, the present value of the 

unreduced benefit. The regulations for 

each of these benefits provide that OPM 

will publish a notice in the Federal 

Register whenever it changes the factors 

used to compute the present values of 

these benefits. 

Section 842.706(a) of title 5, Code of 

Federal Regulations, prescribes the 

method for computing the reduction in 

the beginning rate of annuity payable to 

a retiree who elects an alternative form 

of annuity under 5 U.S.C. 8420a. That 

reduction is required to produce an 

annuity that is the actuarial equivalent 

of the annuity of a retiree who does not 

elect an alternative form of annuity. The 

present value factors listed below are 

used to compute the annuity reduction 

under 5 CFR 842.706(a). 

Section 842.615 of title 5, Code of 

Federal Regulations, prescribes the use 

of these factors for computing the 

reduction required for certain elections 

to provide survivor annuity benefits 

based on a post-retirement marriage or 

divorce under 5 U.S.C. 8416(b), 8416(c), 

or section 8417(b). Under section 11004 

of the Omnibus Budget Reconciliation 

Act of 1993, Public Law 103–66, 

effective October 1, 1993, OPM ceased 

collection of these survivor election 

deposits by means of either a lump-sum 

payment or installments. Instead, OPM 

is required to establish a permanent 

actuarial reduction in the annuity of the 

retiree. This means that OPM must take 

the amount of the deposit computed 

under the old law and translate it into 

a lifetime reduction in the retiree’s 

benefit. 

Subpart F of part 847 of title 5, Code 

of Federal Regulations, prescribes the 

use of present value factors for 

computing the deficiency the retiree 

must pay to receive credit for certain 

service with nonappropriated fund 

instrumentalities made creditable by an 

election under section 1043 of Public 

Law 104–106. Subpart I of part 847 of 

title 5, Code of Federal Regulations, 

prescribes the use of present value 

factors for employees that elect to credit 

nonappropriated fund instrumentality 

service to qualify for immediate 

retirement under section 1132 of Public 

Law 107–107. 

OPM published the present value 

factors currently in effect on May 21, 

2014, at 79 FR 29222 and on April 3, 

2015, OPM published a notice to revise 

the normal cost percentage under the 

Federal Employees’ Retirement System 

(FERS) Act of 1986, Public Law 99–335, 

based on changed demographic 

assumptions adopted by the Board of 

Actuaries of the Civil Service 

Retirement System. Under 5 U.S.C. 

8461(i), those changes require 

corresponding changes in the present 

value factors used to produce actuarially 

equivalent benefits when required by 

the FERS Act. The revised factors will 

become effective on October 1, 2015, to 

correspond with the changes in FERS 

normal cost percentages. For alternative 

forms of annuity, the new factors will 

apply to annuities that commence on or 

after October 1, 2015. See 5 CFR 

842.706. For survivor election deposits, 

the new factors will apply to survivor 


asabaliauskas on DSK5VPTVN1PROD with NOTICES
18266 Federal Register / Vol. 80, No. 64 / Friday, April 3, 2015 / Notices 

reductions that commence on or after 

October 1, 2015. See 5 CFR 842.615(b). 

For obtaining credit for service with 

certain nonappropriated fund 

instrumentalities, the new factors will 

apply to cases in which the date of 

computation under 5 CFR 847.603 or 

847.809 is on or after October 1, 2015. 

See 5 CFR 847.602(c), 847.603, and 

847.809. 

OPM is, therefore, revising the tables 

of present value factors to read as 

follows: 

TABLE I—FERS PRESENT VALUE

FACTORS FOR AGES 62 AND OLDER

[Applicable to annuity payable following an 

election under 5 U.S.C. 8416(b), 8416(c), 

8417(b), 8420a, under section 1043 of Public Law 104–106, or under section 1132 of 

Public Law 107–107] 

Age Present value 

factor 

62 .......................................... 200.8 

63 .......................................... 195.0 

64 .......................................... 189.1 

65 .......................................... 183.2 

66 .......................................... 177.2 

67 .......................................... 171.2 

68 .......................................... 165.1 

69 .......................................... 158.9 

70 .......................................... 152.8 

71 .......................................... 146.6 

72 .......................................... 140.4 

73 .......................................... 134.2 

74 .......................................... 128.0 

75 .......................................... 121.9 

76 .......................................... 116.0 

77 .......................................... 110.1 

78 .......................................... 104.3 

79 .......................................... 98.7 

80 .......................................... 93.2 

81 .......................................... 87.9 

82 .......................................... 82.7 

83 .......................................... 77.8 

84 .......................................... 72.9 

85 .......................................... 68.3 

86 .......................................... 63.9 

87 .......................................... 59.6 

88 .......................................... 55.5 

89 .......................................... 51.6 

90 .......................................... 48.0 

91 .......................................... 44.7 

92 .......................................... 41.6 

93 .......................................... 38.7 

94 .......................................... 36.1 

95 .......................................... 33.8 

96 .......................................... 31.7 

97 .......................................... 29.9 

98 .......................................... 28.1 

99 .......................................... 26.4 

100 ........................................ 24.9 

101 ........................................ 23.7 

102 ........................................ 22.5 

103 ........................................ 21.2 

104 ........................................ 20.2 

105 ........................................ 19.4 

106 ........................................ 18.4 

107 ........................................ 16.5 

108 ........................................ 12.9 

109 ........................................ 6.4 

TABLE II.A—FERS PRESENT VALUE

FACTORS FOR AGES 40 THROUGH 61 

[Applicable to annuity payable when annuity is 

not increased by cost-of-living adjustments 

before age 62 following an election under 5 

U.S.C. 8416(b), 8416(c), 8417(b), 8420a, 

under section 1043 of Public Law 104–106, 

or under section 1132 of Public Law 107– 

107] 

Age Present 

value factor 

40 .......................................... 216.8 

41 .......................................... 216.5 

42 .......................................... 216.1 

43 .......................................... 215.6 

44 .......................................... 215.1 

45 .......................................... 214.6 

46 .......................................... 214.0 

47 .......................................... 213.4 

48 .......................................... 212.8 

49 .......................................... 212.2 

50 .......................................... 211.7 

51 .......................................... 211.1 

52 .......................................... 210.5 

53 .......................................... 209.8 

54 .......................................... 209.0 

55 .......................................... 208.2 

56 .......................................... 207.2 

57 .......................................... 206.2 

58 .......................................... 205.1 

59 .......................................... 204.1 

60 .......................................... 203.0 

61 .......................................... 201.9 

TABLE II.B—FERS PRESENT VALUE

FACTORS FOR AGES 40 THROUGH 61 

[Applicable to annuity payable when annuity is 

increased by cost-of-living adjustments before age 62 following an election under 5 

U.S.C. 8416(b), 8416(c), 8417(b), or 8420a, 

under section 1043 of Public Law 104–106, 

or under section 1132 of Public Law 107– 

107] 

Age Present 

value factor 

40 .......................................... 295.8 

41 .......................................... 292.7 

42 .......................................... 289.5 

43 .......................................... 286.2 

44 .......................................... 282.7 

45 .......................................... 279.1 

46 .......................................... 275.4 

47 .......................................... 271.6 

48 .......................................... 267.7 

49 .......................................... 263.8 

50 .......................................... 259.9 

51 .......................................... 255.8 

52 .......................................... 251.7 

53 .......................................... 247.3 

54 .......................................... 242.8 

55 .......................................... 238.0 

56 .......................................... 233.0 

57 .......................................... 228.0 

58 .......................................... 222.8 

59 .......................................... 217.4 

60 .......................................... 212.0 

61 .......................................... 206.4 

TABLE III—FERS PRESENT VALUE

FACTORS FOR AGES AT CALCULATION BELOW 40 

[Applicable to annuity payable following an 

election under section 1043 of Public Law 

104–106 or under section 1132 of Public 

Law 107–107] 

Age at calculation 

Present 

value of 

a monthly 

annuity 

17 .......................................... 348.5 

18 .......................................... 346.8 

19 .......................................... 345.1 

20 .......................................... 343.3 

21 .......................................... 341.4 

22 .......................................... 339.5 

23 .......................................... 337.6 

24 .......................................... 335.6 

25 .......................................... 333.6 

26 .......................................... 331.5 

27 .......................................... 329.4 

28 .......................................... 327.2 

29 .......................................... 324.9 

30 .......................................... 322.6 

31 .......................................... 320.2 

32 .......................................... 317.8 

33 .......................................... 315.3 

34 .......................................... 312.7 

35 .......................................... 310.1 

36 .......................................... 307.4 

37 .......................................... 304.6 

38 .......................................... 301.7 

39 .......................................... 298.8 

U.S. Office of Personnel Management. 

Katherine Archuleta, 

Director. 

[FR Doc. 2015–07694 Filed 4–2–15; 8:45 am] 

BILLING CODE 6325–38–P 

OFFICE OF PERSONNEL 

MANAGEMENT 

Submission for Review: Report of 

Withholdings and Contributions for 

Health Benefits, Life Insurance and 

Retirement (Standard Form 2812); 

Report of Withholdings and 

Contributions for Health Benefits By 

Enrollment Code (Standard Form 

2812–A); Supplemental Semiannual 

Headcount Report (OPM Form 1523), 

3206–0262 

AGENCY: Office of Personnel 

Management. 

ACTION: 30-day notice and request for 

comments. 

SUMMARY: Trust Funds Group of the 

Office of Chief Financial Officer, Office 

of Personnel Management (OPM) offers 

the general public and other Federal 

agencies the opportunity to comment on 

changes to the existing information 

collection request (ICR) 3206–0262, 

Standard Form 2812, Standard Form 

2812–A, and OPM Form 1523. As 


asabaliauskas on DSK5VPTVN1PROD with NOTICES