Thinking about Funding Federal Retirement Plans

Toni Hustead

in The Future of Public Employee Retirement Systems

Published in print August 2009 | ISBN: 9780199573349
Published online February 2010 | e-ISBN: 9780191721946 | DOI:
Thinking about Funding Federal Retirement Plans

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Most US federal retirement plans are now fully funded, but since plan assets must legally be invested in federal securities, fund surpluses are used to reduce overall federal budget deficits. As a result, current taxpayers are not charged with the cost of future federal retirement obligations. Nevertheless, federal rules do require the employing federal agency to budget for current personnel’s accruing liability of retirement promises. Therefore, policy decisions regarding the number of federal civilian and military personnel and the design of their retirement benefits may be made with a better understanding of the costs.

Keywords: federal pensions; accrual budgeting; Civil Service Retirement System; Employee Retirement Income Security Act; federal budget; Federal Employees Retirement System; Federal Retirement Plan; funding; fund surpluses; Military Retirement System

Chapter.  2686 words. 

Subjects: Public Management and Administration

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