Annual Report Required by the District of Columbia Retirement Reform Act
GGD-88-60: Published: Mar 30, 1988. Publicly Released: Mar 30, 1988.
- Full Report:
Pursuant to the District of Columbia Retirement Reform Act, GAO reviewed a report prepared by an actuarial firm on the disability retirement rate of District of Columbia police officers and fire fighters to determine the 1987 disability retirement rate for District police officers and fire fighters hired before February 15, 1980.
GAO noted that a disability retirement rate greater than 0.8 percent would trigger a reduction in the next annual federal payment. The actuary found that: (1) 29 members hired before February 15, 1980, retired on disability in 1987; (2) on January 1, 1987, there were 3,857 police officers and fire fighters on active duty who were hired prior to February 15, 1980; and (3) the retirement rate was 0.752 percent, and no reduction was required in the fiscal year 1989 payment to the District's police and fire fighters retirement fund. GAO found that the actuarial report met the act's requirements.