---
kind: "section"
citation: "5 C.F.R. § 847.907"
title: "5"
number: "847.907"
heading: "How is the monthly annuity rate used to compute the present value of the deferred annuity without credit for NAFI service determined?"
url: "https://uscodex.org/cfr/5/847.907"
---

# §847.907. How is the monthly annuity rate used to compute the present value of the deferred annuity without credit for NAFI service determined?

- (a) The monthly annuity rate used to compute the present value of the deferred annuity under [§ 847.906](/cfr/5/847.906.md) of this subpart for CSRS retirees equals the monthly annuity otherwise payable under 5 U.S.C. chapter 83, subchapter III, including all reductions provided under that subchapter.
- (b) The monthly annuity rate used to compute the present value of the deferred annuity under [§ 847.906](/cfr/5/847.906.md) of this subpart for CSRS Offset retirees is computed as described in [paragraph (a)](#a) of this section, except that the reduction under section [5 U.S.C. 8349](/usc/5/8349.md) does not apply.
- (c) The monthly annuity rate used to compute the present value of the deferred annuity under [§ 847.906](/cfr/5/847.906.md) of this subpart for FERS retirees equals the monthly rate of annuity otherwise payable under 5 U.S.C. chapter 84, subchapter II, including all reductions provided under that subchapter.

## Notes

### Source

Source: 68 FR 2181, Jan. 16, 2003, unless otherwise noted.

### Authority

Authority: 5 U.S.C. 8332(b)(17) and 8411(b)(6) and sections 1131 and 1132 of Pub. L. 107-107, December 28, 2001, 115 Stat 1242; 5 U.S.C. 8347(a) and 8461(g) and section 1043(b) of Pub. L. 104-106, Div. A, Title X, Feb. 10, 1996, 110 Stat. 434. Subpart B also issued under 5 U.S.C. 8347(q) and 8461(n).

### Source

Source: 61 FR 41721, Aug. 9, 1996, unless otherwise noted.