MEMORANDUM FOR: Mrs. James A. Noel

SUBJECT: Retirement Information

1. There are a few situations in which an employee at the time of retirement may have so many years of service (almost 37) that he would receive a higher annuity under the Civil Service Retirement System than under the Organization System. Because of this, the policy decision has been made that a participant in the Organization System who would receive a higher annuity under the Civil Service System may, not less than eight months prior to his retirement, apply to be removed from our system and transferred to the Civil Service System. Since you will complete 37 years of Federal service in January of next year, it is felt that you should be advised of your retirement status under the Organization System and also if returned to the Civil Service System. The following information is being submitted to assist you in determining which course of action you desire to follow:

a. During the period from 15 August 1944 through 19 October 1946 there were no retirement deductions withheld from your salary. In order for this time to be credited in computing total service under the Organization System it would be necessary for you to make a deposit, with interest, to cover that period. The amount required under our system is 10 per cent based on 35 years of creditable service. If you should return to the Civil Service System in order to receive the maximum annuity it would be necessary for you to make a deposit, with interest, to cover that period for which no contributions were made; however, you may receive full credit in counting actual service without making a deposit but your annuity will be reduced by one-tenth of the amount due as deposit.

b. As you are aware, you are presently entitled to apply for voluntary retirement under the Organization Retirement and Disability System. The annuity which you are entitled to as of 31 October 1967 would be applicable if a deposit were made to cover the period for which no deductions were withheld. The annuity estimate for 31 March 1968 would be applicable without a deposit if you elect to have your annuity reduced by one-tenth of the amount due at that time without this period of service credited.

31 October 1967
Base Annuity $14,265.00
Reduced to Provide for $14,640.00
Survivor Benefit $13,109.00 Survivor Benefit $13,446.00
$ 7,848.00 $ 8,032.00

SF