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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
Incontestability
A statutory provision permitting erroneous enrollments that have continued for at least two years to become valid, if you have paid the applicable premiums during the period of erroneous coverage.
Annuity
Retirement benefit paid on a monthly basis
Age Multiplication Factor
A factor used to determine the extra amount of Basic insurance payable at the time of your death, if you die before age 45 (also referred to as the "extra benefit").
Annuity, Postponed
Delaying your FERS annuity benefit to sometime in the future after meeting your Minimum Retirement Age but before age 62.
Accidental Dismemberment
Bodily injuries sustained solely through violent, external and accidental means, and as a direct result of the bodily injuries, independently of all other causes, and within 90 days afterwards, you lose your limb or eyesight.
OFEGLI
The Office of Federal Employees' Group Life Insurance, which makes payments to beneficiaries under the policy. OFEGLI is not a Federal agency. It is staffed by employees of the contracted life insurance carrier.
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.
Option C
Coverage, to insure your spouse and eligible child(ren), that you can elect in addition to Basic insurance. You can elect up to 5 multiples of the coverage amounts (each multiple equals $5,000 for a spouse and $2,500 for an eligible child). Also called family optional insurance.
Assignee
The individual, corporation, or trustee to which you irrevocably transfer ownership of FEGLI coverage (except Dismemberment coverage and Option C).
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