Retirement Security:

Armed Forces Retirement Home

HRD-94-49R: Published: Nov 3, 1993. Publicly Released: Nov 3, 1993.

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Pursuant to a congressional request, GAO reviewed the financing, operations, and management of the Armed Forces Retirement Home, focusing on: (1) the Home's analysis of its trust fund's status; and (2) allegations of funds mismanagement by senior staff at the Soldiers and Airmen's facility. GAO found that the Home: (1) has reasonably analyzed the trust fund's status; (2) estimates that the trust fund will have a deficit of $8.9 million by the end of fiscal year 2000 because of reduced revenue from active duty forces and increased spending for operations, capital improvements, and personnel; (3) is taking prudent actions to address its financial problem by decreasing staffing levels, postponing some maintenance and capital improvements, redesigning a planned health unit at one facility, and increasing residents' monthly fees; (4) is considering additional actions such as obtaining additional revenue from other sources, identifying additional expense reductions, and determining the best mix of services that can be provided at various funding levels to address its financial problems; and (5) has addressed all the management concerns raised by staff at the Soldiers' and Airmen's facility.

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