[Federal Register: August 22, 2005 (Volume 70, Number 161)]
[Rules and Regulations]
[Page 48839]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22au05-1]
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Rules and Regulations
Federal Register
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[[Page 48839]]
OFFICE OF PERSONNEL MANAGEMENT
5 CFR Parts 841, 842, and 843
RIN 3206-AK57
Federal Employees' Retirement System; Death Benefits and Employee
Refunds
AGENCY: Office of Personnel Management.
ACTION: Final rule.
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SUMMARY: The Office of Personnel Management (OPM) is issuing Final
rules that revise the table of reduction factors for early commencing
dates of survivor annuities for spouses of separated employees who die
before the date on which they would be eligible for unreduced deferred
annuities, and to revise the annuity factor for spouses of deceased
employees who die in service when those spouses elect to receive the
basic employee death benefit in 36 installments under the Federal
Employees' Retirement System (FERS) Act of 1986. These rules are
necessary to conform the tables to the previously published economic
assumptions adopted by the Board of Actuaries.
DATES: This final rule is effective October 1, 2004.
FOR FURTHER INFORMATION CONTACT: Karla Yeakle, (202) 606-0299.
SUPPLEMENTARY INFORMATION: On December 1, 2004, we published (at 69 FR
69805) interim regulations to revise the normal cost percentage under
the Federal Employees' Retirement System (FERS) Act of 1986, Public Law
99-335, 100 Stat. 514, based on changed economic assumptions and
demographic factors adopted by the Board of Actuaries of the Civil
Service Retirement System. Those changed economic assumptions
(principally the change in expected investment return from 6.75 percent
to 6.25 percent) require corresponding changes in factors used to
produce actuarially equivalent benefits when required by the FERS Act.
The revised factors were effective on October 1, 2004. To implement
these changes in factors, we issued interim regulations on December 1,
2004. At that time we also requested comments on the interim
regulations. We received no comments. Accordingly we are now adopting
the interim regulation as final without change.
Executive Order 12866, Regulatory Review
This rule has been reviewed by the Office of Management and Budget
in accordance with Executive Order 12866.
Regulatory Flexibility Act
I certify that this regulation will not have a significant economic
impact on a substantial number of small entities because the regulation
will only affect retirement payments to retired employees, spouses, and
former spouses.
List of Subjects in 5 CFR Parts 841, 842 and 843
Administrative practice and procedure, Air traffic controllers,
Alimony, Claims, Disability benefits, Firefighters, Government
employees, Income taxes, Intergovernmental relations, Law enforcement
officers, Pensions, Retirement.
Office of Personnel Management.
Linda M. Springer,
Director.
0
Accordingly, the Office of Personnel Management adopts its interim
regulations amending 5 CFR parts 841, 842, and 843 published at 69 FR
69805 on December 1, 2004, as final rule without change.
[FR Doc. 05-16592 Filed 8-19-05; 8:45 am]
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