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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.
Duly Appointed Representative of the Insured's Estate
An individual named in a court order granting the individual the authority to receive, or the right to possess, your property. The order must be issued by a court having jurisdiction over your estate.
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.
Assignee
The individual, corporation, or trustee to which you irrevocably transfer ownership of FEGLI coverage (except Dismemberment coverage and Option C).
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.
Annuity, Postponed
Delaying your FERS annuity benefit to sometime in the future after meeting your Minimum Retirement Age but before age 62.
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.
Defined Benefit Pension Plan
A pension plan that promises participants a specified monthly benefit at retirement.
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
Annuity, Deferred
An annuity that begins more than 1 month after separation from employment at some future point when retirement age is reached. (Also called deferred benefits.)
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