[Code of Federal Regulations]
[Title 5, Volume 2]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR843.503]

[Page 345]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (CONTINUED)
 
PART 843_FEDERAL EMPLOYEES RETIREMENT SYSTEM_DEATH BENEFITS AND EMPLOYEE 
 
                 Subpart E_Insurable Interest Annuities
 
Sec.  843.503  Commencing and terminating dates.

    (a) An annuity under this subpart commences on the day after the 
retiree dies.
    (b) An annuity under this subpart terminates on the last day of the 
month before the insurable interest beneficiary dies.
    (c) A survivor annuity accrues on a daily basis, one-thirtieth of 
the monthly rate constituting the daily rate. An annuity does not accrue 
for the 31st day of any month, except in the initial month if the 
survivor's (of a deceased employee) annuity commences on the 31st day. 
For accrual purposes, the last day of a 28-day month constitutes 3 days 
and the last day of a 29-day month constitutes 2 days.