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5 U.S.C. § 8462 — Cost-of-living adjustments

Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8462 — Cost-of-living adjustments

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Stable record: federal_law:legal_authorities:record_usc_da29702cad549f1778a3a47a
Source file: Laws/federal/codes/united-states-code/title-5/section-8462-cost-of-living-adjustments--5fed39f812.md
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Source location: Title 5, Chapter 84, § 8462; chapter-084-federal-employees-retirement-system.md

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**(a)** For the purpose of this section— (1) the term “base quarter”, as used with respect to a year, means the calendar quarter ending on September 30 of such year; (2) the price index for a base quarter is the arithmetical mean of such index for the 3 months comprising such quarter; and (3) the term “percent change in the price index”, as used with respect to a year, means the percentage derived by— (A) reducing— (i) the price index for the base quarter of such year, by (ii) the price index for the base quarter of the preceding year in which an adjustment under this subsection was made; (B) dividing the difference under subparagraph (A) by the price index referred to in subparagraph (A)(ii); and (C) multiplying the quotient under subparagraph (B) by 100. **(b)** (1) Except as provided in subsection (c), effective December 1 of any year in which an adjustment under this subsection is to be made, as determined under paragraph (2), each annuity payable from the Fund under this chapter (other than an annuity under section 8443) having a commencing date not later than such December 1 shall be adjusted as follows: (A) If the percent change in the price index for the year does not exceed 3 percent, each annuity subject to adjustment under this subsection shall be increased by the lesser of— (i) the percent change in the price index (rounded to the nearest one-tenth of 1 percent); or (ii) 2 percent. (B) If the percent change in the price index for the year exceeds 3 percent, each annuity subject to adjustment under this subsection shall be increased by the excess of— (i) the percent change in the price index (rounded to the nearest one-tenth of 1 percent), over (ii) 1 percent. (2) An adjustment under this subsection shall be made in a year only if the price index for the base quarter of such year exceeds the price index for the base quarter of the preceding year in which an adjustment under this subsection was made. (3) An annuity under this chapter shall not be subject to adjustment under section 8340. Nothing in the preceding sentence shall affect the computation of any amount under section 8443(a)(2). **(c)** Eligibility for an annuity increase under this section is governed by the commencing date of each annuity payable from the Fund as of the effective date of an increase, except as follows: (1) The first increase (if any) made under subsection (b) to an annuity which is payable from the Fund to an annuitant or survivor (other than a child under section 8443) whose annuity has not been increased under this subsection or subsection (b) shall be equal to the product (adjusted to the nearest one-tenth of 1 percent) of— (A) one-twelfth of the applicable percent change computed under subsection (b), multiplied by (B) the number of months (not to exceed 12 months, counting any portion of a month as a month)— (i) for which the annuity was payable from the Fund before the effective date of the increase; or (ii) in the case of a survivor of a deceased annuitant whose annuity has not been so increased, since the annuity was first payable to the deceased annuitant. (2) Effective from its commencing date, an annuity payable from the Fund to an annuitant’s survivor (other than a widow or widower whose annuity is computed under section 8442(g) or a child under section 8443) shall be increased by the total percentage by which the deceased annuitant’s annuity had been increased under this section during the period beginning on the date the deceased annuitant’s annuity commenced and ending on the date of the deceased annuitant’s death. (3) (A) An adjustment under subsection (b) for any year shall not be effective with respect to the annuity of an annuitant who is under 62 years of age as of the date on which such adjustment would otherwise first take effect. (B) (i) Except as provided in clause (ii), this paragraph applies only with respect to an annuitant under section 8412, 8413, or 8414. (ii) This paragraph does not apply with respect to an annuitant under subsection (d)(1) or (e) of section 8412 or (in the case of an annuitant separated from service as a military reserve technician as a result of disability) under section 8414(c). (4) The first increase (if any) made under subsection (b) to an annuity which is payable from the Fund to a widow or widower whose annuity is computed under section 8442(g) shall be equal to the product (adjusted to the nearest one-tenth of 1 percent) of— (A) one-twelfth of the applicable percent change computed under subsection (b), multiplied by (B) the number of months (not to exceed 12 months, counting any portion of a month as a month) since— (i) the effective date of the adjustment last made under this section in the annuity of the annuitant on whose service on the widow’s or widower’s annuity is based; or (ii) if the annuity of the annuitant (referred to in clause (i)) has not been increased under this section, the commencement date of such annuitant’s annuity (determined subject to section 8452(a)(1)(B)). **(d)** The monthly installment of an annuity after adjustment under this section shall be rounded to the next lowest dollar. However, the monthly installment shall, after adjustment, reflect an increase of at least $1. **(e)** The $15,000 amount referred to in section 8442(b)(1)(A)(ii) shall be increased at the same time that, and by the same percent as the percentage by which, annuities under subchapter III of chapter 83 are increased.

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8340 — Cost-of-living adjustment of annuities

**(a)** For the purpose of this section— (1) the term “base quarter”, as used with respect to a year, means the calendar quarter ending on September 30, of such year; and (2) the price index for a base quarter is the arithmetical mean of such index for the 3 months comprising such quarter. **(b)** Except as provided in subsection (c) of this section, effective December 1 of each year, each annuity payable from the Fund having a commencing date not later than such December 1 shall be increased by the percent change in the price index for the base quarter of such year over the price index for the base quarter of the preceding year in which an adjustment under this subsection was made, adjusted to the nearest ⅒ of 1 percent. **(c)** Eligibility for an annuity increase under this section is governed by the commencing date of each annuity payable from the Fund as of the effective date of an increase, except as follows: (1) The first increase (if any) made under subsection (b) of this section to an annuity which is payable from the Fund to an employee or Member who retires, to the widow, widower, or former spouse,11 So in original. The comma probably should not appear. of a deceased employee or Member, or to the widow, widower, former spouse, or insurable interest designee of a deceased annuitant whose annuity has not been increased under this subsection or subsection (b) of this section, shall be equal to the product (adjusted to the nearest ⅒ of 1 percent) of— (A) 1⁄12 of the applicable percent change computed under subsection (b) of this section, multiplied by (B) the number of months (not to exceed 12 months, counting any portion of a month as a month)— (i) for which the annuity was payable from the Fund before the effective date of the increase, or (

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8336 — Immediate retirement

**(a)** An employee who is separated from the service after becoming 55 years of age and completing 30 years of service is entitled to an annuity. **(b)** An employee who is separated from the service after becoming 60 years of age and completing 20 years of service is entitled to an annuity. **(c)** (1) An employee who is separated from the service after becoming 50 years of age and completing 20 years of service as a law enforcement officer, firefighter, nuclear materials courier, or customs and border protection officer, or any combination of such service totaling at least 20 years, is entitled to an annuity. (2) An employee is entitled to an annuity if the employee— (A) was a law enforcement officer or firefighter employed by the Panama Canal Company or the Canal Zone Government at any time during the period beginning March 31, 1979, and ending September 30, 1979; and (B) is separated from the service before January 1, 2000, after becoming 48 years of age and completing 18 years of service as a law enforcement officer or firefighter, or any combination of such service totaling at least 18 years. (3) (A) In this paragraph— (i) the term “affected individual” means an individual covered under this subchapter who— (I) is performing service in a covered position; (II) while on duty, becomes ill or is injured as a direct result of the performance of such duties before the date on which the individual becomes entitled to an annuity under paragraph (1) of this subsection or subsection (e), (m), or (n), as applicable; (III) because of the illness or injury described in subclause (II), is permanently unable to render useful and efficient service in the employee’s covered position, as determined by the agency in which the individual was

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Federal law — U.S. Code and appendices · legal_authorities

22 U.S.C. § 4071g — Cost-of-living adjustments

Cost-of-living adjustments for annuitants under this System shall be granted under procedures in [section 8462 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8462&num=0&edition=prelim) in the same manner as such adjustments are made for annuitants referred to in subsection (c)(3)(B)(ii) of such section.

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8331 — Definitions

For the purpose of this subchapter— (1) “employee” means— (A) an employee as defined by [section 2105 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section2105&num=0&edition=prelim); (B) the Architect of the Capitol, an employee of the Architect of the Capitol, and an employee of the Botanic Garden; (C) a Congressional employee as defined by [section 2107 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section2107&num=0&edition=prelim) (other than the Architect of the Capitol, an employee of the Architect of the Capitol, and an employee of the Botanic Garden), after he gives notice in writing to the official by whom he is paid of his desire to become subject to this subchapter; (D) a temporary Congressional employee appointed at an annual rate of pay, after he gives notice in writing to the official by whom he is paid of his desire to become subject to this subchapter; (E) a United States Commissioner whose total pay for services performed as Commissioner is not less than $3,000 in each of the last 3 consecutive calendar years ending after December 31, 1954; (F) an individual employed by a county committee established under [section 590h(b) of title 16](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section590h/b&num=0&edition=prelim); (G) an individual first employed by the government of the District of Columbia before October 1, 1987; (H) an individual employed by Gallaudet College; (I) an individual appointed to a position on the office staff of a former President under section 1(b) of the Act of August 25, 1958 (72 Stat. 838); (J) an alien (i) who was previously employed by the Government, (ii) who is employed full time by a foreign government

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8401 — Definitions

For the purpose of this chapter— (1) the term “account” means an account established and maintained under [section 8439(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8439/a&num=0&edition=prelim); (2) the term “annuitant” means a former employee or Member who, on the basis of that individual’s service, meets all requirements for title to an annuity under subchapter II or V of this chapter and files claim therefor; (3) the term “average pay” means the largest annual rate resulting from averaging an employee’s or Member’s rates of basic pay in effect over any 3 consecutive years of service or, in the case of an annuity under this chapter based on service of less than 3 years, over the total service, with each rate weighted by the period it was in effect; (4) the term “basic pay” has the meaning given such term by section 8331(3); (5) the term “Board” means the Federal Retirement Thrift Investment Board established by [section 8472(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8472/a&num=0&edition=prelim); (6) the term “Civil Service Retirement and Disability Fund” or “Fund” means the Civil Service Retirement and Disability Fund under section 8348; (7) the term “court” means any court of any State, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, or the Virgin Islands, and any Indian court; (8) the term “Director” means the Director of the Office of Personnel Management; (9) the term “dynamic assumptions” means economic assumptions that are used in determining actuarial costs and liabilities of a retirement system and in anticipating the effects of long-term future— (A) investment yields; (B) increases in rates of basic p

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Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 8462 — Cost-of-living adjustments

Page 1184 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8462 under section 8347(q) or 8461(n) of this title to remain covered under subchapter III of chapter 83 of this title, chapter 84 of this title, or a retirement system for em- ployees described in section 2105(c) of this title, see sec- tion 7202(n) of Pub. L. 101–508, set out as a note under section 2105 of this title. § 8462. Cost-of-living adjustments (a) For the purpose of this section— (1) the term ‘‘base quarter’’, as used with re- spect to a year, means the calendar quarter ending on September 30 of such year; (2) the price index for a base quarter is the arithmetical mean of such index for the 3 months comprising such quarter; and (3) the term ‘‘percent change in the price index’’, as used with respect to a year, means the percentage derived by— (A) reducing— (i) the price index for the base quarter of such year, by (ii) the price index for the base quarter of the preceding year in which an adjust- ment under this subsection was made; (B) dividing the difference under subpara- graph (A) by the price index referred to in subparagraph (A)(ii); and (C) multiplying the quotient under sub- paragraph (B) by 100. (b)(1) Except as provided in subsection (c), ef- fective December 1 of any year in which an ad- justment under this subsection is to be made, as determined under paragraph (2), each annuity payable from the Fund under this chapter (other than an annuity under section 8443) having a commencing date not later than such December 1 shall be adjusted as follows: (A) If the percent change in the price index for the year does not exceed 3 percent, each annuity subject to adjustment under this sub- section shall be increased by the lesser of— (i) the percent change in the price index

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