CIARDS ACTUARIAL STUDY

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP74B00415R000600030025-2
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 3
• Document Creation Date: December 12, 2016
• Document Release Date: January 3, 2002
• Sequence Number: 25
• Publication Date: July 22, 1971
• Content Type: MF

Approved For Release 20
01771-.003
!TT CIA-RDP74B00415R00060003002545c .7
22 JUL 1911
MEMORANDUM FOR: Executive Director-Comptroller
THROUGH t Deputy Director for Support
SUBJECT CIARES Actuarial Study
1. This memorandum is for your information, no aetien being
required.
2. There is attached the final report on the first actuarial
valuation of the CIA Retirement and Disability Fund. This report .
as prepared by Mr. Cedric W. Kroll, actuary in the Office of Debt
Analysis in the Department of the Treasury. The Office of Computer
Services has contributed an enormous amount of time and effort in
working with Mr. Kroll In the development and execution of computer
programs to accumulate and project data required for this end
product.
3. It should be noted that the basic study is based on data as
of 31 December 1963, updated to 30 June 1970 and gives no effect to
the potential impact of recent legislation providing for transfer
from the Civil Service Ceadss5on of employer contributions to mal,ch
employee contributions for the prior creditable service of new par-
ticipents in the CIA System. That impact will be relatively signifi-
cent at least in the short run if a favorable ruling Is obtained from
the Comptroller General concerning the retroactivity of that legisla-
tion.
4. The principal significance of the -attached report is fairly
summarized by the final paragraph on page 10 of the report which
reads as follows:
With legislation recently enacted for transfer to the
fund of employer contributions to match employee contributions
for creditable service under Civil Service, and assuming legis-
lation to provide financing provisions similar to those con-
tained in the Civil Service and Foreign Service Acts (and
employing the same agency-employee matching percentages), the
CIA system should have no financial problems in the foresee-
able future."
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Approved For Release 2002/01/23: tt. 15R000600030025-2
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Approved For Release 2002/01/23 :CIA-RDP74B00415R000600030025-2
SUBJECT CIARDS Actuarial Study
5. We shall be glad to discuss any specific questions you may
have concerning the report. Supporting supplemental tables for the
attached report are Quite detailed and technical. Those tables will
not be printed for another two or three weeks) and will be furnished
you when available,
Attachment;
Actuarial Valuation
Distribution:
L. E.
Director of Finance
Original & 1 - Addressee (w/attc)
1 - DDS (w/att.)
1 - DDI Watt.
1 - DDP (w/atti
: 1 - DDS&T (w/att.)
1 - D/OPPB (w/att.)
OIC (w/att.)
1 - D/OP (w/att.-)
1 - D/OCS (w/att.)
1 - D/Fin (w/o att.)
1 - OF Registry (w/o Att.)
3 - PPS Files ( ) (W/att.)
25X1A OF/PPSIMMlbjh (21 Jul 71)
Approved For Release 2002/01/23 CIA-RDP74B00415R000600030025-2
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25X1A
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Policy and Planning
of Finance Staff 61D
Key Bldg.
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22 Jul 71
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FORM NO. 97 Use previous editions
030025[2