Quiero saber acerca de...

34637

Proposed Rules
Federal Register Vol. 86, No. 123
Wednesday, June 30, 2021

This section of the FEDERAL REGISTER
contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules.

OFFICE OF PERSONNEL
MANAGEMENT
5 CFR Part 843
RIN 3206AO13

Federal Employees Retirement System; Present Value Conversion Factors for Spouses of Deceased Separated Employees Office of Personnel Management.
ACTION: Proposed rule.
AGENCY:

The Office of Personnel Management OPM is issuing a proposed rule to revise the table of reduction factors for early commencing dates of survivor annuities for spouses of separated employees who die before the date on which they would be eligible for unreduced deferred annuities, and to revise the annuity factor for spouses of deceased employees who die in service when those spouses elect to receive the basic employee death benefit in 36
installments under the Federal Employees Retirement System FERS
Act of 1986. These rules are necessary to ensure that the tables conform to the economic and demographic assumptions adopted by the Board of Actuaries and published in the Federal Register on March 29, 2021, as required by law.
DATES: Send comments on or before August 30, 2021.
ADDRESSES: You may submit comments identified by docket number and/or Regulatory Information Number RIN
and title, by the following method:
Federal eRulemaking Portal: http
www.regulations.gov. Follow the instructions for submitting comments.
All submissions received must include the agency name and docket number or RIN for this document. The general policy for comments and other submissions from members of the public is to make these submissions available for public viewing at http
www.regulations.gov as they are
jbell on DSKJLSW7X2PROD with PROPOSALS

SUMMARY:

VerDate Sep<11>2014

16:55 Jun 29, 2021

Jkt 253001

received without change, including any personal identifiers or contact information.
FOR FURTHER INFORMATION CONTACT:
Karla Yeakle, 202 6060299.
SUPPLEMENTARY INFORMATION: On March 29, 2021, OPM published a notice at 86
FR 16401 in the Federal Register to revise the normal cost percentages under the Federal Employees Retirement System FERS Act of 1986, Public Law 99335, 100 Stat. 514, as amended, based on economic assumptions and demographic factors adopted by the Board of Actuaries of the Civil Service Retirement System. By statute under 5 U.S.C. 8461i, the revisions to the actuarial assumptions require corresponding changes in factors used to produce actuarially equivalent benefits when required by the FERS Act.
Section 843.309 of title 5, Code of Federal Regulations, regulates the payment of the basic employee death benefit. Under 5 U.S.C. 8442b, the basic employee death benefit may be paid to a surviving spouse as a lump sum or as an equivalent benefit in 36
installments. These rules amend 5 CFR
843.309b2 to conform the factor used to convert the lump sum to 36installment payments with the revised economic assumptions.
Section 843.311 of title 5, Code of Federal Regulations, regulates the benefits for the survivors of separated employees under 5 U.S.C. 8442c. This section provides a choice of benefits for eligible current and former spouses. If the current or former spouse is the person entitled to the unexpended balance under the order of precedence under 5 U.S.C. 8424, he or she may elect to receive the unexpended balance instead of an annuity. If the separated employee died before having attained the minimum retirement age, the annuity commences on the day the deceased separated employee would have been eligible for an unreduced annuity as specified under this section.
If the current or former spouse instead elects to receive an adjusted annuity beginning on the day after the death of the separated employee, the annuity is reduced using the factors in appendix A
to subpart C of part 843 to make the annuity actuarially equivalent to the present value of the annuity that the spouse or former spouse otherwise would have received. These rules amend appendix A to subpart C of part
PO 00000

Frm 00001

Fmt 4702

Sfmt 4702

843 to conform the factors to the revised actuarial assumptions.
Regulatory Impact Analysis OPM has examined the impact of this rule as required by Executive Order 12866 and Executive Order 13563, which directs agencies to assess all costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits including potential economic, environmental, public, health, and safety effects, distributive impacts, and equity. A regulatory impact analysis must be prepared for major rules with economically significant effects of $100
million or more in any one year. This rule was not designated as a significant regulatory action, under Executive Order 12866.
Regulatory Flexibility Act The Office of Personnel Management certifies that this rule will not have a significant economic impact on a substantial number of small entities.
Federalism We have examined this rule in accordance with Executive Order 13132, Federalism, and have determined that this rule will not have any negative impact on the rights, roles and responsibilities of State, local, or tribal governments.
Civil Justice Reform This regulation meets the applicable standard set forth in Executive Order 12988.
Unfunded Mandates Reform Act of 1995
This rule will not result in the expenditure by state, local, and tribal governments, in the aggregate, or by the private sector, of $100 million or more in any year and it will not significantly or uniquely affect small governments.
Therefore, no actions were deemed necessary under the provisions of the Unfunded Mandates Reform Act of 1995.
Congressional Review Act The Congressional Review Act 5
U.S.C. 801 et seq. requires rules as defined in 5 U.S.C. 804 to be submitted to Congress before taking effect. OPM
will submit to Congress and the Comptroller General of the United
E:FRFM30JNP1.SGM

30JNP1