[Code of Federal Regulations]
[Title 5, Volume 2]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR842.204]

[Page 284]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued)
 
PART 842--FEDERAL EMPLOYEES RETIREMENT SYSTEM--BASIC ANNUITY--Table of Contents
 
                         Subpart B--Eligibility
 
Sec. 842.204  Immediate voluntary retirement--basic age and service requirements.

    (a) An employee or Member who separates from service is entitled to 
an annuity--
    (1) Except as provided in paragraph (d) of this section, after 
attaining the minimum retirement age and completing 10 years of service; 
or
    (2) After becoming age 60 and completing 20 years of service; or
    (3) After becoming age 62 and completing 5 years of service.
    (b)(1) Except as provided in paragraph (b)(2) or (c) of this 
section, an annuity payable under paragraph (a) of this section 
commences on the first day of the month following separation.
    (2) An annuity payable under paragraph (a) of this section commences 
on the day after separation, if that separation occurs upon the 
expiration of a term (or other period) for which the individual was 
appointed or elected.
    (c)(1) An employee or Member entitled to an annuity under paragraph 
(a)(1) of this section may elect to postpone the commencing date of that 
annuity, provided the individual--
    (i) Has completed less than 30 years of service; and
    (ii) Is not entitled to an immediate annuity under any other 
provision of this subpart. An immediate annuity means an annuity that 
will begin within 31 days of separation.
    (2) A postponed commencing date may not precede the later of--
    (i) The first day of the month after the date of separation of the 
employee or Member; or
    (ii) The 31st day after the date of filing the election of a 
commencing date.
    (3) A postponed commencing date must be no later than the second day 
before the employee's 62nd birthday.
    (4) The election of a commencing date may be filed not more than 90 
days before the commencing date elected by the employee or Member, and 
must be filed in a form prescribed by the Office of Personnel Management 
(OPM).
    (5) A written election that is not in the prescribed form, but which 
designates a specific commencing date, and otherwise conforms to the 
time limits in paragraphs (c)(2) through (c)(4) of this section, will be 
accepted as an informal election subject to ratification in the 
prescribed form.
    (6) The election of a commencing date becomes irrevocable on the 
date OPM authorizes the first annuity payment.
    (d)(1) If an employee or Member separates from service after 
attaining the minimum retirement age and completing 10 years of service, 
but is reemployed before filing an application for retirement based on 
that separation, the individual may not elect an annuity commencing date 
that precedes separation from the reemployment service.
    (2) In the case of an employee or Member who separates from service 
after attaining the minimum retirement age and completing 10 years of 
service, and is reemployed after filing an application for retirement 
based on that separation, that individual may not elect an annuity 
commencing date that precedes separation from the reemployment service 
if he or she is reemployed prior to a postponed commencing date elected 
under paragraph (c) of this section.

[51 FR 47197, Dec. 31, 1986, as amended at 56 FR 65418, Dec. 17, 1991]