OPM Updates FERS Present-Value Reduction Factors for Survivor Annuities of Spouses of Deceased Separated Employees

OPM is revising the FERS table of reduction (present-value) factors used when a surviving spouse of a separated employee elects to start a survivor annuity early—before the date the employee would have been eligible for an unreduced deferred annuity. OPM notes the annuity factor for spouses of employees who die in service and choose the basic employee death benefit paid in 36 installments remains unchanged.