31 C.F.R. § 29.342 Computed annuity exceeds the statutory maximum.
Title 31 - Money and Finance: Treasury
(a) In cases in which the total computed annuity exceeds the statutory maximum: (1) Federal Benefit Payments may equal total benefits even if the employee had service after June 30, 1997. (2) If the employee had sufficient service as of June 30, 1997, to qualify for the maximum annuity under the plan, the Federal Benefit Payment is the maximum annuity under the plan. This will be the entire benefit except for any amount in excess of the normal maximum due to unused sick leave, which is the responsibility of the District. (See example 3, of appendix A of this subpart.) (b) If the employee did not perform sufficient service as of June 30, 1997, to reach the statutory maximum benefit, but has sufficient service at actual retirement to exceed the statutory maximum, the Federal Benefit Payment is the amount earned through June 30, 1997. The non-Federal-Benefit-Payment portion of the total benefit consists of only the amount by which the total benefit payable exceeds the Federal Benefit Payment.
Title 31: Money and Finance: Treasury
PART 29—FEDERAL BENEFIT PAYMENTS UNDER CERTAIN DISTRICT OF COLUMBIA RETIREMENT PROGRAMS
Subpart C—Split Benefits
Calculation of the Amount of Federal Benefit Payments
§ 29.342 Computed annuity exceeds the statutory maximum.
