5 C.F.R. § 842.606 Election of a self-only annuity or a one-half reduced annuity by married employees and Members.
Title 5 - Administrative Personnel
(a) A married employee may not elect a self-only annuity or a one-half reduced annuity to provide a current spouse annuity without the consent of the current spouse or a waiver of spousal consent by OPM in accordance with §842.607. (b) Evidence of spousal consent or a request for waiver of spousal consent must be filed on a form prescribed by OPM. (c) The spousal consent form will require that a notary public or other official authorized to administer oaths certify that the current spouse presented identification, gave consent, signed or marked the form, and acknowledged that the consent was given freely in the notary's or official's presence. (d) The form described in paragraph (c) of this section may be executed before a notary public, an official authorized by the law of the jurisdiction where executed to administer oaths, or an OPM employee designated for that purpose by the Associate Director. (e) A request for waiver of the spousal consent requirement must be by letter and fully state the basis for the request. (f) The amount of the reduction in the retiree's annuity for a one-half reduced annuity to provide a current spouse annuity is 5 percent of the retiree's annuity. [52 FR 2061, Jan. 16, 1987, as amended at 57 FR 54679, Nov. 20, 1992]
Title 5: Administrative Personnel
PART 842—FEDERAL EMPLOYEES RETIREMENT SYSTEM—BASIC ANNUITY
Subpart F—Survivor Elections
§ 842.606 Election of a self-only annuity or a one-half reduced annuity by married employees and Members.
§ 842.615 Deposits required.
(a) The deposits required to elect reduced annuities under §§842.610, 842.611, and 842.612 are not annuity overpayments and their collection is not subject to waiver.
(b) Actuarial reduction in annuity of retirees who make post-retirement elections to provide a current spouse annuity or a former spouse annuity. (1) The annuity reduction required by paragraph (b)(2) of this section applies to all retirees who are required to pay deposits under §842.611 or §842.612 and have not paid any portion of the deposit prior to October 1, 1993, or from annuity accruing before that date.
(2) Retirees described in paragraph (b)(1) of this section must have a permanent annuity reduction computed under paragraph (b)(4) of this section.
(3) A reduction under paragraph (b)(2) of this section commences on the same date as the annuity reduction under §842.611 or §842.612.
(4) The annuity reduction under paragraph (b)(2) of this section is equal to the lesser of—
(i) The amount of the deposit under §842.611 or §842.612 divided by the present value factor for the retiree's age on the commencing date of the reduction under paragraph (b)(3) of this section (plus any previous reduction(s) in the retiree's annuity required under paragraph (b)(2) or (c)(2) of this section); or
(ii) Twenty-five percent of the rate of the retiree's self-only annuity on the commencing date of the reduction (under paragraph (b)(3) of this section).
(5)(i) The reduction under paragraph (b)(2) or paragraph (c)(2) of this section terminates on the date that the retiree dies.
(ii) If payment of a retiree's annuity is suspended or terminated and later reinstated, or if a new annuity becomes payable, OPM will increase the amount of the original reduction computed under paragraph (b)(4) or paragraph (c)(4) of this section by any cost-of-living adjustments under section 8462 of title 5, United States Code, occurring between the commencing date of the original reduction and the commencing date of the reinstated or new annuity (but the adjusted reduction may not exceed 25 percent of the rate of the reinstated or new self-only annuity).
(c) Post-retirement survivor election deposits that were partially paid before October 1, 1993. (1) The annuity reduction required by paragraph (c)(2) of this section applies to all retirees who are required to pay deposits under §842.611 or §842.612 and have paid any portion (but not all) of the deposit prior to October 1, 1993, or from annuity accruing before that date.
(2) Retirees described in paragraph (c)(1) of this section must have a permanent annuity reduction computed under paragraph (c)(4) of this section.
(3) A reduction under paragraph (c)(2) of this section commences on October 1, 1993.
(4) The annuity reduction under paragraph (c)(2) of this section is equal to the lesser of—
(i) The amount of the principal balance remaining to be paid on October 1, 1993, divided by the present value factor for the retiree's age on October 1, 1993; or
(ii) Twenty-five percent of the rate of the retiree's self-only annuity on October 1, 1993.
(5)(i) The reduction under paragraph (c)(2) of this section terminates on the date that the retiree dies.
(ii) If payment of a retiree's annuity is suspended or terminated and later reinstated, or if a new annuity becomes payable, OPM will increase the amount of the original reduction computed under paragraph (b)(4) or paragraph (c)(4) of this section by any cost-of-living adjustments under section 8462 of title 5, United States Code, occurring between the commencing date of the original reduction and the commencing date of the reinstated or new annuity (but the adjusted reduction may not exceed 25 percent of the rate of the reinstated or new self-only annuity).
(d) For retirees who die before October 1, 1993, any unpaid portion of the deposit required under §842.611 or §842.612 will be collected from the survivor annuity (for which the election required the deposit) before OPM pays any survivor annuity.
[52 FR 2061, Jan. 16, 1987, as amended at 58 FR 52883, Oct. 13, 1993]
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