Overview of Federal Retirement Programs

Gao ID: T-GGD-95-172 May 22, 1995

This testimony describes how the federal retirement systems work, the benefits they provide, and how they compare with private sector programs. GAO concentrates on the Civil Service Retirement System and the Federal Employees Retirement System because they are the largest retirement systems for federal civilian personnel. GAO describes the history of the two retirement systems and discusses four issues that are often raised in connection with federal retirement: (1) retirement eligibility provisions, (2) benefit formulas, (3) cost-of-living adjustments, and (4) system financing.



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