Annual Report Required by the District of Columbia Retirement Reform Act
GGD-87-48: Published: Mar 18, 1987. Publicly Released: Mar 18, 1987.
- Full Report:
Pursuant to the District of Columbia Retirement Reform Act, GAO reviewed an actuarial firm's report on the disability retirement rate of District police officers and fire fighters to determine the 1986 disability rate for fire fighters and police officers hired before February 15, 1980.
GAO noted that: (1) the act established that a disability retirement rate higher than eight-tenths of 1 percent would trigger a reduction in the next annual federal payment; and (2) the trigger mechanism governing the fiscal year 1988 payment was based on members retiring on disability in calendar year 1986 and members still active as of January 1, 1986. The actuary determined that: (1) 30 members the District hired before February 15, 1980, retired on disability in 1986; (2) on January 1, 1986, there were 3,994 police officers and fire fighters on active duty who were hired before February 15, 1980; and (3) since the disability rate was 0.751 percent, no reduction was required in the fiscal year 1988 payment to the fund. GAO found that the actuary's determination met the act's requirements.