5 CFR § 848.703 - Lump-sum credit.

---
identifier: "/us/cfr/t5/s848.703"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "5 CFR § 848.703 - Lump-sum credit."
title_number: 5
title_name: "Administrative Personnel"
section_number: "848.703"
section_name: "Lump-sum credit."
chapter_name: "OFFICE OF PERSONNEL MANAGEMENT"
subchapter_number: "B"
subchapter_name: "CIVIL SERVICE REGULATIONS"
part_number: "848"
part_name: "PHASED RETIREMENT"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 8461; 5 U.S.C. 8412a."
regulatory_source: "79 FR 46632, Aug. 8, 2014, unless otherwise noted."
cfr_part: "848"
---


# 848.703 Lump-sum credit.

If an individual performs phased employment, the lump-sum credit as defined in 5 U.S.C. 8401(19) will be reduced by any annuity that is paid or accrued during phased employment.