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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 5 - Administrative Personnel |
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Chapter I - Office of Personnel Management |
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SubChapter B - Civil Service Regulations |
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Part 842 - Federal Employees Retirement System - Basic Annuity |
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Subpart D - Computations |
§ 842.403 - Computation of basic annuity.
Latest version.
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§ 842.403 Computation of basic annuity.
(a) Except as provided in paragraph (b) of this section and §§ 842.405 and 842.406, the annuity of an employee or Member is 1 percent of average pay multiplied by total service.
(b) The annuity of an employee is 1.1 percent of average pay multiplied by total service, provided the individual -
(1) Has completed 20 years of service; and
(2) At the time of separation on which entitlement to an annuity is based -
(i) Is at least age 62; and
(ii) Is not a customs and border protection officer, a Member, Congressional employee, military reserve technician, law enforcement officer, firefighter, nuclear materials courier, or air traffic controller.
[52 FR 4475, Feb. 11, 1987, as amended at 76 FR 42000, July 18, 2011]