[Code of Federal Regulations]
[Title 5, Volume 2, Parts 700 to 1199]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR843.309]

[Page 313]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued)
 
PART 843--FEDERAL EMPLOYEES RETIREMENT SYSTEM--DEATH BENEFITS AND EMPLOYEE REFUNDS--Table of Contents
 
              Subpart C--Current and Former Spouse Benefits
 
Sec. 843.309  Basic employee death benefit.

    (a) Except as provided in Sec. 843.312, if an employee or Member 
dies after completing at least 18 months of civilian service creditable 
under subpart C of part 842 of this chapter and is survived by a current 
spouse who meets the requirements of Sec. 843.303, the current spouse is 
entitled to the basic employee death benefit equal to the sum of--
    (1) Fifty percent of the final annual rate of basic pay (or of the 
average pay, if higher) of the employee; and
    (2) Fifteen thousand dollars as adjusted under section 8462 of title 
5, United States Code.
    (b) The current spouse may elect to receive the basic employee death 
benefit in one of the following forms--
    (1) A one-time payment; or
    (2)(i) For deaths occurring before October 1, 1987, 36 equal monthly 
installments of 3.05642 percent of the amount of the basic employee 
death benefit.
    (ii) For deaths occurring on or after October 1, 1987, 36 equal 
monthly installments of 3.06921 percent of the amount of the basic 
employee death benefit.
    (c)(1)(i) A current spouse who has elected to receive the basic 
employee death benefit in 36 installments under paragraph (b)(2) of this 
section may elect to receive the remaining portion of the basic employee 
death benefit in one payment.
    (ii) The election to receive the remaining portion of the basic 
employee death benefit in one payment must be in writing and signed by 
the current spouse.
    (iii) The election to receive the remaining portion of the basic 
employee death benefit in one payment is irrevocable when OPM authorizes 
the payment.
    (2) Upon the death of a current spouse who was receiving the basic 
employee death benefit in 36 installments under paragraph (b)(2) of this 
section, the remaining portion of the basic employee death benefit will 
be paid as one payment to the estate of the current spouse.
    (3) As used in this section, ``remaining portion of the basic 
employee death benefit'' means the amount of the basic employee death 
benefit computed under paragraph (a) of this section that has not been 
paid. The amount is the remaining principal computed based on an 
amortization schedule with the initial principal equal to the amount 
computed under paragraph (a) of this section and the interest rate based 
on the applicable factor under paragraph (b)(2) of this section.

[52 FR 2074, Jan. 16, 1987, as amended at 52 FR 23014, June 17, 1987; 52 
FR 36389, Sept. 29, 1987; 56 FR 65419, Dec. 17, 1991]