(a) To compute the beginning rate of annuity payable to a retiree who elects an alternative form of annuity, OPM will first compute the monthly rate of annuity otherwise payable under subchapter III of chapter 83 of title 5, United States Code, including all reductions provided under the subchapter other than those in § 8343a. That monthly rate is then reduced by an amount equal to the retiree's lump-sum credit divided by the present value factor for the retiree's attained age (in full years) at the time of retirement. The reduced monthly rate is then rounded to the next lowest dollar and becomes the rate of annuity payable.
(b) OPM will publish a notice in the Federal Register announcing any proposed adjustments in present value factors at least 30 days before the effective date of the adjustments.
Notes of Decisions
Shimota v. United States, 21 Cl. Ct. 510 (Ct. Cl. 1990).
· cites it 4× “4 Annuity payments made under the “alternative form of annuity” are computed in accordance with Office of Personnel Management (OPM) Regulation 5 C.F.R. § 831.2205 . 5 That Regulation, in effect, reduces the annuity payments that a retiree would otherwise have received based…”
Roundy v. Comm'r, 70 T.C.M. 6 (Tax Ct. 1995).
· cites it 2× “sec. 8343a deals with the situation where the recipient gives up his right to any annuity whatsoever in exchange for the payment of such a credit, a situation that does not exist here.”
George v. United States, 30 Fed. Cl. 371 (Fed. Cl. 1994).
“Department of the Navy for more than 29 years until she voluntarily left federal service on June 11, 1982. During her employment, Mrs.”
George v. United States, 90 F.3d 473 (Fed. Cir. 1996).
“” 5 C.F.R. § 831.2205 . . The separate contract provision is set forth in § 72(d) and reads as follows: (d) Treatment of Employee Contributions under Defined Contribution Plans as Separate Contracts.”
Siano v. United States, 948 F. Supp. 479 (W.D. Pa. 1996).
“Based on this definition, and on the clear language of the relevant statute, this Court finds that the lump sum distributions were received by plaintiffs in addition to their actual monthly annuities, and not as part of them. 10 The legislative history of the Internal Revenue…”
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