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Formatting SF2801a OPM: Difference between revisions
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(Created page with "== Annuity == {{:Document SF2801a OPM}} From page 16 of 33 of SF2801a:</br> === Guaranteed Minimum Disability Annuity === An employee retiring before age 60 because of disability is guaranteed a minimum basic annuity which amounts to the lesser of (a) 40% of the “high-3” average pay, or (b) the sum obtained by using the basic formula, but increasing the length of actual service by the period between the date of the employee’s separation for retirement and the date...") |
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If the “earned” annuity computed using the basic formula is greater than the guaranteed minimum, this “earned” annuity is the amount payable. Persons receiving military retired pay or pension or compensation from the Department of Veterans Affairs in lieu of military retired pay are generally not eligible for the guaranteed minimum annuity computation.</br></br> | If the “earned” annuity computed using the basic formula is greater than the guaranteed minimum, this “earned” annuity is the amount payable. Persons receiving military retired pay or pension or compensation from the Department of Veterans Affairs in lieu of military retired pay are generally not eligible for the guaranteed minimum annuity computation.</br></br> | ||
From page 11 and 12 of 33 of SF2801a:</br> | From page 11 and 12 of 33 of SF2801a:</br> | ||
=== Beginning Date of Annuity === | |||
The beginning date of most annuities is the first day of the month after pay ceases and all other requirements for title to annuity are met. There are three exceptions to this: (1) disability annuities, (2) annuities based on involuntary separations, and (3) annuities based on voluntary retirement of employees who are in pay status for three days or less in the month of retirement. In these three instances, annuities begin no later than the day after pay ceases and all other requirements for title to annuity are met.</br></br> | The beginning date of most annuities is the first day of the month after pay ceases and all other requirements for title to annuity are met. There are three exceptions to this: (1) disability annuities, (2) annuities based on involuntary separations, and (3) annuities based on voluntary retirement of employees who are in pay status for three days or less in the month of retirement. In these three instances, annuities begin no later than the day after pay ceases and all other requirements for title to annuity are met.</br></br> | ||
<b>Payment and Accrual of Annuity</b></br> | <b>Payment and Accrual of Annuity</b></br> | ||