1. Regulations
  2. title 5
  3. chapter I-i1
  4. part 847
  5. subpart I
  6. § 847.903

View all text of Subpart I [§ 847.901 - § 847.912]

§ 847.903 - How is the monthly reduction to the retirement annuity computed?

(a) The reduction equals:

(1) The difference in the present value of the immediate annuity with credit for NAFI service and the deferred annuity without credit for NAFI service, divided by

(2) The present value factor for the retiree's attained age (in full years) at the time of retirement.

(b) The reduction computed in paragraph (a) of this section is rounded to the next higher dollar.

AUTHORITY: 5 U.S.C. 8332(b)(17) and 8411(b)(6) and sections 1131 and 1132 of Pub. L. 107-107, December 28, 2001, 115 Stat 1242; 5 U.S.C. 8347(a) and 8461(g) and section 1043(b) of Pub. L. 104-106, Div. A, Title X, Feb. 10, 1996, 110 Stat. 434. Subpart B also issued under 5 U.S.C. 8347(q) and 8461(n).

SOURCE: 61 FR 41721, Aug. 9, 1996, unless otherwise noted.

CITE AS: 5 CFR 847.903