Pursuant to a congressional request, GAO reviewed the information contained in the federal pension plan reports filed with the Comptroller General.

GAO found that: (1) the comparative data for plan years 1979 through 1983 showed that the plans covered 6 million active participants; (2) the net assets available for benefits totalled $115.8 billion; (3) the projections were highly dependent on the actuarial cost method and the actuarial assumptions used; (4) the actuarial assumptions varied by plan since they were based on the best estimate of anticipated experience under the plan; (5) the assumed future rates of inflation, interest, and salary increases could have a significant impact on the estimates of future retirement costs; (6) interest rate assumptions used by the plans in 1983 ranged from 6 percent to 9 percent; and (7) the Office of Management and Budget and the Comptroller General directed that plans use an assumed long-term inflation rate of 5 percent per year and other economic assumptions be consistent with the assumed inflation rate.