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COLA, CSRS
CSRS cost of living adjustments (COLA's) provide an increase that is equal to the rate of inflation as measured by the Consumer Price Index (CPI). CSRS cost-of-living-adjustments are provided to retirees at all ages
Conversion
The exchange of group insurance for insurance under an individual policy purchased from a private insurance company approved by the Office of Personnel Management.
Option B
Coverage, equal to up to 5 multiples of your annual basic rate of pay, that you can elect in addition to Basic insurance. Also called additional optional insurance.
Immediate annuity
An annuity that begins no later than one month after the date the insurance would otherwise stop
An annuity under 5 CFR 842.204(a)(1) for which the starting date has been postponed under 5 CFR 842.204.
Defined Benefit Pension Plan
A pension plan that promises participants a specified monthly benefit at retirement.
Annuity
Retirement benefit paid on a monthly basis
Market Rate of Interest
The percentage of interest paid on certain FERS deposits and refunds. Based on the average interest earned by the Civil Service Retirement and Disability Fund in the previous year. In 1998, the interest rate is 6.75%.
Automatic Cancellation of Waiver
The automatic entitlement to Basic insurance and ability to elect Optional insurance if you are reinstated after a break in service of at least 180 days.
Assign and Assignment
Your irrevocable transfer of all ownership of FEGLI coverage (except Dismemberment coverage and Option C) to another individual, corporation, or trustee.
Annuity, Postponed
Delaying your FERS annuity benefit to sometime in the future after meeting your Minimum Retirement Age but before age 62.
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