Pensions (81 - 88 of 88 items)
Cost-of-Living Increases for Federal Civilian and Military Retirees
B-130150: Published: Jul 1, 1980. Publicly Released: Jul 1, 1980.
GAO has long been concerned about the equity and costs of the Government's policy of full, automatic cost-of-living increases for Federal civilian and military retirees. GAO was pleased to see that the First Concurrent Budget Resolution for fiscal year 1981 assumed enactment of its recommendations to Congress to provide retirement cost-of-living adjustments annually and prorate the initial adjustm...
An Actuarial and Economic Analysis of State and Local Government Pension Plans
PAD-80-1: Published: Feb 26, 1980. Publicly Released: Feb 26, 1980.
A study of future economic problems is being directed by the Joint Economic Committee. The goal of the study is to obtain more accurate estimates of future outlays from pension plans and the potential effect of these outlays on the Nation's economic resources. The main focus of the study was projecting the cost to State and local government pension plans of future benefit payout. To place benefit...
Minimum Benefit Provision of the Civil Service Disability Retirement Program Should Be Changed
FPCD-80-26: Published: Nov 30, 1979. Publicly Released: Nov 30, 1979.
GAO has issued several reports pointing out the seriousness of increasing civil service disability costs and the need for reform. Disability benefits are payable to employees with 5 or more years of service and are calculated under the same formula as other benefits under the civil service retirement system. In 1956 minimums were established to provide disabled employees with limited service a rea...
Federal Retirement Issues
109874: Jul 12, 1979
A review of Federal retirement issues covered the following areas: need for a Federal retirement policy, costing and funding practices, disability retirement, and cost-of-living adjustments. There are 38 retirement systems maintained for various groups of personnel by Federal agencies and instrumentalities; consequently, there is a need to establish an overall, coordinated Federal retirement syste...
Inconsistencies in Retirement Age: Issues and Implications
PAD-78-24: Published: Apr 17, 1978. Publicly Released: Apr 17, 1978.
Retirement is becoming an increasingly important issue primarily because of escalating costs and demographic changes. The three largest retirement systems under the jurisdiction of the Federal Government are social security, the Civil Service Retirement System, and Department of Defense Retired Military Personnel. These three programs made benefit payments to 35.6 million beneficiaries in 1976, an...
Cost-of-Living Adjustments for New Federal Retirees: More Rational and Less Costly Processes Are Needed
FPCD-78-2: Published: Nov 17, 1977. Publicly Released: Nov 17, 1977.
To protect the purchasing power of retirement income, the annuities of Federal employees under the various retirement systems are automatically adjusted each March 1 and September 1 for the increase in the consumer price index during the preceding 6-month period ending December 31 and June 30, respectively. Since, by law, cost-of-living adjustments are applicable to all annuities payable on the ef...
Federal Retirement Systems: Unrecognized Costs, Inadequate Funding, Inconsistent Benefits
FPCD-77-48: Published: Aug 3, 1977. Publicly Released: Aug 3, 1977.
The cost and liabilities of federal retirement programs are much greater than recognized by current costing and funding procedures.In 1976, seven of the government's retirement systems paid over $15.6 billion to retirees and the survivors of deceased employees and retirees, an increase of $10 billion since 1970. The systems also reported liabilities exceeding $320 billion for which less than $44 b...
Cost-of-Living Adjustment Processes for Federal Annuities Need To Be Changed
FPCD-76-80: Published: Jul 27, 1976. Publicly Released: Jul 27, 1976.
GAO commented on the cost-of-living adjustment processes to the Federal annuity system The comments are generally limited to the civil service retirement system, since it is the largest system and often leads the other systems to change. Most of the observations also pertain to the other Federal systems.The cost-of-living adjustment processes for Federal retirement annuities have resulted in annui...