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The FPPS reflects the annuity monthly amount and base annuity rate. This is computed on hours reported on the time sheet. The result is offsets/reductions are made to the gross salary paid.
The CSRS Annuitant Reimbursement to OPM pay code is displayed as a reduction of salary. This paycode charges the agency for the annuitant offset amount which is passed on the labor cost file to the client and contains gross plus government contributions.
Ex: Annual pay = $87,847.00
Divide by 2087 = $42.09 (hourly rate)
$1200.00 (annuitant rate per month) X 12 months = $14,400 (annual annuitant pay)
Divide by 2087 = $6.89 (hourly rate)
$42.09 - $6.90 = $35.19 (new hourly annuitant rate)
The FPPS generates a tickler notice to the Human Resource office one year prior to an employee reaching age 55 if the retirement plan is 6, M, or E and the occupational code is 0081, 0401, 0462, or 2181. The FPPS also generates a tickler notice one year prior to an employee reaching age 57 for employees in occupational codes 0007, 0025, 0083, 1801, or 1811. This tickler notice can be modified to meet agency needs.