Federal Workforce:
Added Cost of Early Retirement Is Included in Retirement Cost Factor
GGD-86-67BR: Published: Apr 25, 1986. Publicly Released: Apr 25, 1986.
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In response to a congressional request, GAO discussed issues concerning the cost-effectiveness of the government's policy of contracting under the Office of Management and Budget Circular A-76.
GAO found that the circular: (1) requires government agencies to compare the cost of performing commercial functions in-house to the cost of contracting to determine the most economical means of obtaining the work; and (2) prescribes that, when making cost comparison studies, agencies should use a civil service retirement cost factor of 27.9 percent of pay representing the government's share of accruing retirement system costs. The total accruing cost is the amount that the government would be required to set aside each year, with interest earnings, during the working careers of federal employees in order to pay their retirement benefits. No retirement costs accrue for an employee after that employee retires. The Employee Retirement Income Security Act generally requires private sector employers to fully fund accruing pension costs.
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
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Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-718T: Published: Sep 24, 2020. Publicly Released: Sep 24, 2020.
Aug 28, 2020
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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
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Retirement Security:
Older Women Report Facing a Financially Uncertain FutureGAO-20-435: Published: Jul 14, 2020. Publicly Released: Aug 13, 2020.
Jun 16, 2020
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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
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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
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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
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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
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Military Pensions:
Servicemembers Need Better Information to Support Retirement Savings DecisionsGAO-19-631: Published: Sep 19, 2019. Publicly Released: Oct 21, 2019.
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