5 CFR 842.612 - Post-retirement election of a fully reduced annuity or one-half reduced annuity to provide a current spouse annuity.
(a) Except as provided in paragraph (c) of this section, a retiree who was unmarried at the time of retirement may elect, within 2 years after a post-retirement marriage, a fully reduced annuity or a one-half reduced annuity to provide a current spouse annuity.
(2) If an election under this section causes the total of all current and former spouse annuities provided by a qualifying court order or elected under § 842.604, § 842.611, or this section to exceed the maximum survivor annuity permitted under § 842.613, OPM will accept the election but will pay the portion in excess of the maximum only when permitted by § 842.613(c).
(1) Except as provided in paragraph (d)(2) or (e)(3) of this section, a retiree making an election under this section must deposit an amount equal to the difference between the amount of annuity actually paid to the retiree and the amount of annuity that would have been paid if the reduction elected under paragraphs (a) or (b) of this section had been in effect continuously since the time of retirement, plus 6 percent annual interest, computed under § 841.606 of this chapter, from the date when each difference occurred.
(4) If payment of the deposit under paragraph (d) of this section is not required because the election never became effective and if some or all of the deposit has been paid, the amount paid will be returned to the retiree, or, if the retiree has died, to the person who would be entitled to any lump-sum benefits under the order of precedence in section 8424 of title 5, United States Code.
(g) The amount of the reduction to provide a current spouse annuity under this section equals -
(h) If a retiree who is receiving a reduced annuity to provide a former spouse annuity and who has remarried that former spouse (before the former spouse attained age 55) dies, the retiree will be deemed to have elected to continue the reduction to provide a current spouse annuity unless the retiree requests (or has requested) in writing that OPM terminate the reduction.
Title 5 published on 07-Jun-2017 03:44
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 5 CFR Part 842 after this date.
- 5 CFR 842.615 — Deposits Required.
- 5 CFR 843.313 — Elections Between Survivor Annuities.
- 5 CFR 843.306 — Basic Benefits on Death of a Non-Disability Retiree.
- 5 CFR 842.610 — Changes of Election After Final Adjudication.
- 5 CFR 842.613 — Division of a Survivor Annuity.
- 5 CFR 842.605 — Election of Insurable Interest Rate.
- 5 CFR 838.733 — Rights of Current and Other Former Spouses After Termination of a Former Spouse's Entitlement.