Federal Employees Retirement SystemComputation of the Basic Employee Death Benefit for Customer Officers

60 FR 13034Federal Register, Volume 60 Issue 47 (Friday, March 10, 1995) [Federal Register Volume 60, Number 47 (Friday, March 10, 1995)] [Rules and Regulations] [Pages 13034-13035] From the Federal Register Online via the Government Publishing Office [ www.gpo.gov ] [FR Doc No: 95-5835] ----------------------------------------------------------------------- OFFICE OF PERSONNEL MANAGEMENT 5 CFR Part 843 RIN 3206-AF91 Federal Employees Retirement System--Computation of the Basic Employee Death Benefit for Customer Officers AGENCY: Office of Management. ACTION: Final rule. ----------------------------------------------------------------------- SUMMARY: The Office of Personnel Management (OPM) is issuing final regulations concerning the use of overtime and premium pay in determining the final annual rate of basic pay of customs officers under the Federal Employees Retirement System (FERS). These regulations establish the methodology (similar to the one that OPM uses for other flexible schedule employees) that the employing agency will use to compute customs officers' ``final annual rate of basic pay'' for determining FERS ``basic employee death benefit.'' The regulations are necessary to implement the changes in the statutory definition of basic pay under FERS made by the Omnibus Budget Reconciliation Act of 1993. EFFECTIVE DATE: April 10, 1995. FOR FURTHER INFORMATION CONTACT: Harold L. Siegelman, (202) 606-0299.

60 FR 13034SUPPLEMENTARY INFORMATION: On October 5, 1994, we published (at 59 FR 50705) proposed regulations to implement section 13812 of the Omnibus Budget Reconciliation Act of 1993, Pub. L. 103-66, concerning the use of overtime and premium pay in determining the final annual rate of basic pay of customs officers under the Federal Employees Retirement System (FERS). Section 13812 of Pub. L. 103-66 amended section 8331(3) of title 5, United States Code, the definition of basic pay under the Civil Service Retirement System (CSRS), to include, as basic pay for CSRS computations, certain overtime pay for customs officers. Section 8401(4) of title 5, United States Code, provides that the CSRS definition of basic pay in section 8331(3) applies to FERS. For customs officers, basic pay includes the regular pay under the general schedule, any applicable locality pay, and allowable overtime pay up to $12,500 per fiscal year. Basic pay is used to compute final salary for the basic employee death benefit under FERS. We proposed a methodology for determining final salary similar to the one used for determining the ``final annual rate of basic pay'' of intermittent employees for the FERS basic employee death benefit established in section 843.102 of Title 5, Code of Federal Regulations. We received no comments on the proposed regulations. We are now issuing final regulations to adopt that methodology. Regulatory Flexibility Act I certify that this regulation will not have a significant economic impact on a substantial number of small entities because the regulation will only affect Federal employees and agencies and retirement payments to retired Government employees and their survivors. [[Page 13035]] List of Subjects in 5 CFR Part 843

60 FR 13034Administrative practice and procedure, Claims, Disability benefits, Government employees, Intergovernmental relations, Pensions, Reporting and recordkeeping, Retirement. U.S. Office of Personnel Management. Lorraine A. Green, Deputy Director. Accordingly, OPM is amending 5 CFR part 843 as follows: PART 843--FEDERAL EMPLOYEES RETIREMENT SYSTEM--DEATH BENEFITS AND EMPLOYEE REFUNDS 1. The authority citation for part 843 continues to read as follows: Authority: 5 U.S.C. 8461; Secs. 843.205, 843,208, and 843.209 also issued under 5 U.S.C. 8424; Sec. 843.309 also issued under 5 U.S.C. 8442; Sec. 843.406 also issued under 5 U.S.C. 8441. 2. In the definition of final annual rate of basic pay in section 843.102, paragraph (d) is added to read as follows: Sec. 843.102 Definitions. * * * * * Final annual rate of basic pay * * * (d) The annual pay for customs officers is the sum of the employee's general schedule pay, locality pay, and the lesser of-- (1) Two times the employee's final hourly rate of pay times the number of hours for which the employee was paid two times salary as compensation for overtime inspectional service under section 5(a) of the Act of February 11, 1911 (19 U.S.C. 261 and 267) plus three times the employee's final hourly rate of pay times the number of hours for which the employee was paid three times salary as compensation for overtime inspectional service under section 5(a) in the 52-week work year immediately preceding the end of the last pay period in which the employee was in pay status; or (2) $12,500. * * * * * [FR Doc. 95-5835 Filed 3-9-95; 8:45 am] BILLING CODE 6325-01-M