Federal Compensation:
Effects of Proposed Retirement Changes on a Typical Federal Retiree
GGD-86-51FS: Published: Feb 27, 1986. Publicly Released: Feb 27, 1986.
Additional Materials:
- Full Report:
Contact:
Pursuant to a congressional request, GAO reviewed the effects of the fiscal year 1987 budget proposal which recommends changes to the civil service retirement benefits for a typical employee retiring at age 61 after 30 years of service.
GAO found that: (1) the overall effect of the proposed benefit reductions would result in a loss of $112,000 over the lifetime of the typical retiree; (2) the proposal to increase retirement contributions from 7 to 9 percent would require employees to contribute an additional $12,000 over the remainder of their careers; (3) the proposal to go from a 3-year to a 5-year salary average for benefit computation would result in a lower salary base and annuity; (4) the proposal to penalize early retirees will require a 2-percent benefit reduction for each year a person retires under the age of 62; and (5) assuming a 5-percent inflation rate, an employee's first year cost-of-living adjustment would be reduced by $300.
Oct 30, 2020
Retirement Security:
Other Countries' Experiences with Caregiver PoliciesGAO-20-623: Published: Sep 30, 2020. Publicly Released: Oct 30, 2020.
Sep 24, 2020
-
Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-718T: Published: Sep 24, 2020. Publicly Released: Sep 24, 2020.
Aug 28, 2020
-
Retirement Security:
DOL Could Better Inform Divorcing Parties About Dividing SavingsGAO-20-541: Published: Jul 31, 2020. Publicly Released: Aug 28, 2020.
Aug 13, 2020
-
Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-435: Published: Jul 14, 2020. Publicly Released: Aug 13, 2020.
Jun 16, 2020
-
Retirement Security:
BLS Should Explore Ways to Improve the Accuracy, Timeliness, and Relevance of Its Cost-of-Living MeasurementsGAO-20-422: Published: Jun 16, 2020. Publicly Released: Jun 16, 2020.
Feb 27, 2020
-
Private Pensions:
IRS and DOL Should Strengthen Oversight of Executive Retirement PlansGAO-20-70: Published: Jan 28, 2020. Publicly Released: Feb 27, 2020.
Jan 9, 2020
-
Social Security Disability:
Action Needed to Help Agency Staff Understand and Follow Policies Related to Prescription Opioid MisuseGAO-20-120: Published: Jan 9, 2020. Publicly Released: Jan 9, 2020.
Dec 18, 2019
-
Capitol Police:
Potential Effects of Raising the Mandatory Retirement AgeGAO-20-137R: Published: Dec 18, 2019. Publicly Released: Dec 18, 2019. -
Millennial Generation:
Information on the Economic Status of Millennial Households Compared to Previous GenerationsGAO-20-194: Published: Dec 13, 2019. Publicly Released: Dec 18, 2019.
Oct 21, 2019
-
Military Pensions:
Servicemembers Need Better Information to Support Retirement Savings DecisionsGAO-19-631: Published: Sep 19, 2019. Publicly Released: Oct 21, 2019.
Looking for more? Browse all our products here
Explore our Key Issues on Retirement Security
Explore our other Key Issues here
