§ 841.402 Definitions

5 CFR 841.402In this subpart—

5 CFR 841.402 (definition of "Actuary")Actuary means a professional who meets the qualification standards to issue a statement of actuarial opinion in regard to defined benefit retirement plans in the United States.

5 CFR 841.402 (definition of "Administrative expenses")Administrative expenses means the normal cost loading applicable to the administration of FERS.

5 CFR 841.402 (definition of "Age")Age means age, as of the beginning of the fiscal year, rounded to the nearest birthday.

5 CFR 841.402 (definition of "Agency head")Agency head means, for the executive branch agencies, the head of an executive agency as defined in 5 U.S.C. 105; for the legislative branch, the Secretary of the Senate, the Clerk of the House of Representatives, or the head of any other legislative branch agency; for the judicial branch, the Director of the Administrative Office of the United States Courts; for the Postal Service, the Postmaster General; for any other independent establishment that is an entity of the Federal Government, the head of the establishment.

5 CFR 841.402 (definition of "Board")Board means the Board of Actuaries of the Civil Service Retirement System.

5 CFR 841.402 (definition of "Category of employees")Category of employees means a grouping of employees under § 841.403.

5 CFR 841.402 (definition of "Child survivor termination and death rates")Child survivor termination and death rates means the rate, by age of the child, at which child survivor benefits terminate.

5 CFR 841.402 (definition of "CSRS")CSRS means subchapter III of chapter 83 of title 5, United States Code.

5 CFR 841.402 (definition of "Death and recovery rates for disability annuitants")Death and recovery rates for disability annuitants means the rate, by age, sex, and duration on the roll, at which disability annuitants are removed from the annuity roll because of death; and the rate, by age, sex, and duration on the roll, at which disability annuitants are removed from the annuity roll because of recovery or restoration to earning capacity.

5 CFR 841.402 (definition of "Death and remarriage rates for surviving spouses")Death and remarriage rates for surviving spouses means the rate, based on the sex of the employee, age of the survivor annuitant, and the duration on the annuity roll, at which spousal survivor annuitants are removed from the annuity roll because of death; and the rate, based on the sex of the employee, age of the survivor annuitant, and the duration on the roll, at which survivor annuitants are removed from the annuity roll because of remarriage.

5 CFR 841.402 (definition of "Death rates for non-disability annuitants")Death rates for non-disability annuitants means the rate, by age and sex of the annuitant, at which non- disability annuitants are removed from the annuity roll because of death.

5 CFR 841.402 (definition of "Disability retirement rates")Disability retirement rates means the rate, by age, sex, length of service, and whether the employees are eligible for social security disability benefits, at which employees retire for disability.

5 CFR 841.402 (definition of "Duration on the roll")Duration on the roll means the number of full years on the annuity roll as of the beginning of the fiscal year.

5 CFR 841.402 (definition of "Economic Assumptions")Economic Assumptions means the assumptions used by the Board with respect to inflation, interest rates, and wage and salary growth.

5 CFR 841.402 (definition of "Employee death rates")Employee death rates means the rate, by age and sex of the employees and whether the employees are survived by spouses entitled to survivor annuities, at which employees die in service.

5 CFR 841.402 (definition of "Employees")Employees means employees as defined in section 8401(11) of title 5, United States Code, and Members, as defined in section 8401(20) of title 5, United States Code.

5 CFR 841.402 (definition of "Family characteristics of annuitants")Family characteristics of annuitants means, based on the annuitant's age and sex, and in some cases, on the type of annuity (regular, disability, or deferred), the number and average age of child survivors at the death of the annuitant, the percentage of annuitants with an annuity reduced to provide survivor benefits, the percentage of annuitants who actually leave a surviving spouse entitled to a survivor annuity at the annuitant's death, and the average age of the surviving spouse.

5 CFR 841.402 (definition of "Family characteristics of employees")Family characteristics of employees means, based on the employee's age at death and sex, the number and average age of child survivors and the average age of the surviving spouse, per death of an employee with a survivor.

5 CFR 841.402 (definition of "FERS")FERS means chapter 84 of title 5, United States Code.

5 CFR 841.402 (definition of "Involuntary retirement rates")Involuntary retirement rates means, by age and sex of the employee, the rate of involuntary retirements (discontinued service and optional early retirements).

5 CFR 841.402 (definition of "Merit salary increases")Merit salary increases means salary increases, by age and length of service, that are not general salary increases. “Merit salary increases” include promotions and within-grade and similar increases based in whole or in part on employee performance, but do not include comparability increases, Postal Service COLA, or similar adjustments to entire pay scales; or premium pay.

5 CFR 841.402 (definition of "Military service rates")Military service rates means the fraction, by age and sex, of employees who have military service to all employees, and the average length of military service and the salary on which their deposits to receive credit for military service are based for these employees.

5 CFR 841.402 (definition of "Normal cost percentage or normal cost")Normal cost percentage or normal cost means the entry-age normal cost of the provisions of FERS which relate to the Fund, computed by the Office in accordance with generally accepted actuarial practice and standards (using dynamic assumptions) and expressed as a level percentage of aggregate basic pay.

5 CFR 841.402 (definition of "Service")Service means all creditable service, including military service, rounded to the nearest number of years as of the beginning of the fiscal year.

5 CFR 841.402 (definition of "Single agency rate")Single agency rate means a normal cost percentage for one category of employees in one agency. A single agency rate is set under § 841.412 as a result of a successful appeal.

5 CFR 841.402 (definition of "Voluntary retirement rates")Voluntary retirement rates means the rate, based on the sex, age, and service of the employee, of regular longevity retirements.

5 CFR 841.402 (definition of "Withdrawal rates")Withdrawal rates means the rate at which employees leave FERS-covered service without retiring, including employees who are paid refunds and employees who take deferred retirement. These rates are of two types: “not offset for reentry” and “offset for reentry.” These rates are by age and service.