[Code of Federal Regulations]
[Title 5, Volume 2]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR837.303]

[Page 178]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (CONTINUED)
 
PART 837_REEMPLOYMENT OF ANNUITANTS--Table of Contents
 
                  Subpart C_Coverage and Contributions
 
Sec. 837.303  Annuity offset.

    (a) Applicability. When the right to receive annuity continues 
during reemployment (even though actual receipt of annuity may have been 
waived under 5 U.S.C. 8345(d) or 8465(a)), the pay of the reemployed 
annuitant shall be offset by the amount of annuity allocable to the 
period of reemployment, except that--
    (1) No amount shall be offset from pay in accordance with this 
section for a period for which the annuitant has elected to receive FEC 
benefits in lieu of annuity; and
    (2) No amount shall be offset from a lump-sum payment of annual 
leave, made on or after termination of the reemployment period.
    (b) Payment. The employing agency shall pay to the Fund the full 
amount required to be offset from a reemployed annuitant's salary under 
this section in accordance with instructions issued by OPM. Payment in 
full to the Fund is not contingent on actual offset from the reemployed 
annuitant's salary.
    (c) Computation. To compute the amount of the annuity offset for any 
particular pay period, divide the amount of annuity for the calendar 
days included in the pay period by the number of hours that would 
constitute a full-time tour of duty for that pay period, then multiply 
the result by the number of hours actually paid for the pay period, not 
to exceed the number of hours that constitutes a full-time tour of duty.