THE THIRTY-FIRST AND THIRTY-SECOND ANNUAL REPORTS OF THE BOARD OF ACTUARIES OF THE CIVIL SERVICE RETIREMENT AND DISABILITY FUND FOR THE FISCAL YEARS ENDED JUNE 30,1951 AND JUNE 30, 1952

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP78-03721A000400010002-3
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 37
• Document Creation Date: December 9, 2016
• Document Release Date: July 26, 2000
• Sequence Number: 2
• Publication Date: January 1, 1954
• Content Type: REPORT

0,er-7311 4
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_ HousNieicument No. 401
111111
THE THIRTY-FIRST AND THIRTY-SECOND
ANNUAL REPORTS OF THE BOARD OF
ACTUARIES OF iTHE CIVIL SERVICE RE-
TIREMENT AND DISABILITY FUND FOR
THE FISCAL YEARS ENDED JUNE 30, 1951
AND JUNE 30, 1952 25X1X8
UNITED STATES
GOVERNMENT PRINTING OFFICE
47434 WASHINGTON : 1954
vegoi
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25X1 X8
HOUSE RESOLUTION 423
IN' THE HOUSE OF REPRESENTATIVES,
January 27, 1954.
t there be printed as a House document the Thirty-
-second Annual Reports of the Board of Actuaries of
e Retirement and Disability Fund for the fiscal years
1951, and June 30, 1952.
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Noir
LETTER OF SUBMITTAL
NEW YORK CITY, MCIV 28, 195g.
UNITED STATES CIVIL SERVICE COMMISSION,
Washington, D. C.
LADIES AND GENTLEMEN: The Board of Actuaries, appointed under
section 16 of the act of May 22, 1920, for the retirement of employees
in the civil service of the United States, has the honor to submit here-
with its 31st annual report on the operation of the fund.
In accordance with the practice of the Board in the past, the report
gives a statement of the appropriation required of the Government
'100"4 under the Retirement Act, as amended, on the basis of the estimated
membership of the fund as of June 30, 1951.
Respectfully submitted.
GEO. B. BUCK,
R. R. REAGH,
C. W. KROLL,
Board of Actuaries,
Civil Service Retirement and Disability Fund.
\we
AMMO.
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Nue
THIRTY-FIRST ANNUAL REPORT OF THE BOARD OF ACTU-
ARIES OF THE CIVIL SERVICE RETIREMENT AND DISABILITY
FUND
The civil service retirement and disability fund was established in
1920 to furnish retirement benefits to officers and employees of the
United States Government who become superannuated in govern-
mental service, or incapacitated before attaining old age. The Retire-
ment Act makes provision for a Board of Actuaries of the Civil Service
Retirement Act and in section 16 defines the chief duties of the
Board to be as follows:
* * * to annually report upon the actual operations of this Act, with authority
to recommend to the Civil Service Commission such changes as in their judg-
ment may be deemed necessary to protect the public interest and maintain the
system upon a sound financial basis, and they shall make a valuation of the
"civil-service retirement and disability fund" at intervals of five years, or oftener
if deemed necessary by the Civil Service Commission; they shall also prepare
such tables as may be required by the Civil Service Commission for the purpose
of computing annuities under this Act. * * *
This report, which has been prepared as of June 30, 1951, is the
31st annual report of the Board of Actuaries. The report gives first
a summary of the main benefit and contribution provisions of the
act as amended to June 30, 1951. Then statements are included
regarding the active and retired membership. Next the estimated
appropriation recommended for payment by the Government on the
basis of the estimated membership as of June 30, 1951, is given. This
is followed by a statement giving the results of a valuation of the
liabilities of the fund on account of annuities in force on the roll as
of June 30, 1951. Finally a brief account of the mortality experience
of annuitants for the past year is given, together with certain com-
ments by the Board on the past year's operations.
SUMMARY OF BENEFIT AND CONTRIBUTION PROVISIONS OF THE CIVIL
SERVICE RETIREMENT AND DISABILITY FUND
There were no amendments made during the past year which affect
the main benefit and contribution provisions of the fund. The follow-
ing summary states the main benefit and contribution provisions of
the act, as they were interpreted by the Board of Actuaries.
BENEFITS
Service retirement
Condition for eligibility.'?Rotirement is compulsory at age 70 after
15 years of service.
Retirement is permissible at the option of the employee at age 60
after 30 years of service or at age 62 after 15 years of service.
1 certain employees who have rendered 20 years of service in the investigation, apprehension, or detention
of persons suspected or convicted of offenses against the criminal laws of the United States are eligible to
retire after age 60 and receive an annuity of 2 percent of average basic salary for any 5 consecutive years
multiplied by the number of years of service not exceeding SO years.
1
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At the option of the employee at age 55 after 30 years of service dook
or upon involuntary separation not due to misconduct or delinquency
after 25 years of service, an immediate annuity is payable equal to
the regular annuity reduced by one-quarter percent for each month sk
the employee is under age 60.
Amount of beneft.2?The annuity is determined by 1 of 2 plans,
whichever provides the larger benefit:
Plan I. An annuity equal to 13 percent of average annual basic
salary 3 for each year of service but no such annuity is to exceed 80
percent of average annual basic salary.'
Plan II. An annuity equal to 1 percent of average annual basic
salary 3 plus $25 for each year of service, but no such annuity is to
exceed 80 percent of average annual basic salary.3
Disability retirement
Condition for eligibility.?Retirement is permissible upon disability
after 5 years of civilian service.
Amount of benefit.?The benefit is determined by the same method
as used for service retirement.
Any compensation for disability paid from the United States
employees' compensation fund is deducted from the annuity benefit
payable on account of the same disability.
Discontinued service retirement
Condition for eligibility.?Upon separation from service after 5 or
more years of civilian service, a deferred annuity is payable.
Amount of benefit.?The deferred annuity begins at age 62 or at
age of separation, if later, and is computed by the same method as the
regular annuity but without choice of a joint and survivorship option.
If the employee has less than 20 years of civilian service, he may
elect to receive his contributions with interest at 4 percent to December
31, 1947, and 3 percent thereafter to date of separation in lieu of the
deferred annuity.
Return of contributions upon withdrawal from active service
Return of total contributions is made upon withdrawal from active
service before 5 years of civilian service. Interest at 4 percent to
December 31, 1947, and at 3 percent thereafter is allowed if service
is in excess of 1 year.
Return of contributions on death before retirement
On death before 5 years of civilian service or after 5 years of civilian
service when there is no survivor entitled to an annuity, return of total
contributions is made with interest at 4 percent to December 31, 1947,
and 3 percent thereafter to date of death of the employee.
Return of contributions on death before commencement of payment under
a deferred annuity
Return of total contributions is made upon death before commence-
ment of deferred annuity. (Interest is allowed at 4 percent to Decem-
ber 31, 1947, or to date of separation, whichever is earlier, and 3 per-
cent thereafter to date of death.)
2 An additional annuity of $36 for each year of certain specified service in Alaska or on the Isthmus of
Panama is allowed officers and employees who are citizens of the United States.
"Average annual basic salary" is used to denote the average annual basic salary received by the
employee during any S consecutive years of allowable service at the option of the employee.
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MTVIL SERVICE RETIREMEN I: AND DI B
Return of contributions upon death after retirement
Upon death before the payments of the annuity amount to contribu-
tions (with interest at 4 percent to December 31, 1947, and 3 percent
%.?ithereafter to date of retirement) the difference is paid, unless there is a
survivor entitled to an annuity.
Annuities to dependents upon death in active service
Condition for eligibility.?Annuities to dependents are paid upon
death of an employee in active service after 5 years of civilian service.
Amount of benefit.?(a) If survived by a widow, an annuity begin-
ning the first of the month following the death of the employee or
widow's attainment of age 50, whichever later, equal to one-half
regular annuity is payable to the widow until death or remarriage.
(b) If survived by a widow and a child or children, in addition to
(a), an immediate annuity equal to one-half regular annuity to the
employee is payable to the widow until death, remarriage, or attain-
ment of age 50. Also an immediate annuity equal to one-fourth of
the regular annuity, not in excess of $900 divided by the number of
-children, or $360, whichever is lesser, is payable to each child.
The annuity payable to a child is terminated upon attainment of
age 18, marriage, or death, whichever is earlier.
(c) If survived by a child or children and there is no widow or
widower, an immediate annuity equal to one-hall regular service
annuity, not in excess of $1,200 divided by the number of children,
or $480, whichever is lesser, is payable to each child until attainment
of age 18, marriage, or death, whichever is earlier.
**1?1 Upon death of the widow, the annuity payable under (b) to a child
or children is recomputed and paid as provided in (c).
Upon termination of the annuity of a child, the annuities to other
NNW children are recomputed as though the child whose annuity was
terminated had not survived the employee.
Optional benefits
At retirement a married employee may elect to receive in lieu of
his or her regular annuity a reduced annuity payable during the
employee's life and an annuity payable to the surviving widow or
widower equal to 50 percent of the regular annuity before reduction.
The annuity to the survivor commences upon the employee's death
or the survivor's attainment of age 50, whichever is late', and ceases
upon death or remarriage. The reduction in the employee's annuity
is 5 percent of so much of the regular annuity as does not exceed
$1,500, plus 10 percent of any excess over $1,500, plus three-fourths
of 1 percent for each year the spouse lacks of being age 60 at the date
of retirement, but in no case shall the reduced annuity be less than
75 pei cent of such regular annuity.
At service retirement any unmarried employee in good health may
elect to receive in lieu of his regular annuity a reduced annuity pay-
able during his life and an annuity payable after his death to a sur-
vivor annuitant equal to 50 percent of such reduced annuity and,
upon death of a survivor annuitant, all payments cease. The annuity
payable to the employee is as follows: 90 percent of life annuity if
survivor is same age or older or is less than 5 years younger than
annuitant; 85 percent of life annuity if survivor is 5 but less than 10
years younger than annuitant; 80 percent of life annuity if survivor
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4 CIVIL aERVICE RETIREMENT AND DISABILITY FUND
is 10 but less than 15 years younger than annuitant; 75 percent of
life annuity if survivor is 15 but less than 20 years younger than
annuitant; 70 percent of life annuity if survivor is 20 but less than 25"
years younger than annuitant; 60 percent of life annuity if survivor-
is 25 or more years younger than annuitant.
Annuities to dependents upon death after retirement
Benefits to widows with children and to children upon death of
annuitants are similar to those payable upon death of employee in
active service, except that benefits are based on regular annuity paid
to annuitant and the annuity payable to the widow with a child or
children terminates upon death, remarriage, or attainment of age 50,
unless an optional benefit was selected by annuitant. No benefits
are payable to dependents of annuitants retired on account of dis-
continued service.
Benefits to annuitants retired prior to April 1, 1948
Benefits to annuitants retired prior to April 1, 1948, were increased
by 25 percent or by $300, whichever was less, provided any such
annuitant could, prior to April 1, 1948, elect to retain his ca her present
annuity in lieu of the increased annuity and provide that one-half of
such present annuity, but not to exceed $600, be continued to his
wife or her husband until death. Effective September 1, 1950, the
annuities of those who in 1948 elected survivor benefits were increased
as stated above. Survivor benefits, as previously described, were
granted those who in 1948 elected the increase, applicable in any
case where death occurs after April 30, 1948, but no survivor annuity
was payable for any period prior to September 1, 1950.
No change was made in deferred annuities payable to employees "
separated from service prior to April 1, 1948.
CONTRIBUTIONS
By employees
Employees pay 6 percent of salary commencing July 1, 1948.
Any employee may at his option and under regulations prescribed
by the Civil Service Commission deposit additional sums in multi-
ples of $25 but not to exceed 10 percent of his annual salary for
service rendered since August 1, 1920, for the purchase of an addi-
tional annuity.
By Government
Annual appropriations required in addition to employees' contribu-
tions to support the plan are to be made by the Government.
ESTIMATED ACTIVE MEMBERSHIP AS OF JUNE 30, 1951
The active membership of the fund as of June 30, 1951, was esti-
mated by the Civil Service Commission to consist of 1,767,000
employees with an annual payroll of $6,723,435,000.
ANNUITANTS ON THE ROLL AS OF JUNE 30, 1951
The following table summarizes the number and amount of annui-
ties in force on June 30, 1951, classified according to cause of retire-
ment for each sex, as shown by the records of annuitants maintained7
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TIVIL SERVICE RETIREMENT AND DISA.BILITY FUND 5
*ere'
%ape
by the Civil Service Commission. On pages 10 to 15 of this report,
the distributions of the number and annuities of annuitants on the
roll as of June 30, 1951, are given for each sex according to ages as
of that date. The tabulations show survivors of deceased employees
and survivors of deceased annuitants separately.
TABLE I.-The number and annuities of annuitants on the roll June 30, 1951
Group
Regular annuities
Voluntary annuities
Total annul-
ties
Number
Amount
Number
Amount
Retired on account of age and voluntary
and involuntary separation:
Men
102,892
$130, 276, 396
1, 552
$436, 514
$130, 712, 910
Women
17, 853
18, 839. 057
508
80, 806
18, 925, 873
Total
120, 745
149, 115, 463
2,090
523, 320
149, 638, 783
Retired on account of disability:
Men
35, 463
33, 997, 909
285
43, 148
34, 041, 057
Women
10,472
9, 124, 765
126
14, 088
9, 138,853
Total
45, 935
43, 122, 674
411
57, 236
43,179, 910
Survivors of deceased employees:
Widows under sec. 12 (c) (1)
6,835
3, 994, 424
3, 994, 424
Widows under sec. 12 (c) (2)
2, 865
1, 220, 040
1, 220, 040
Children under sees. 12 (c) (2) and (3) _ __
6,342
1, 192, 116
1, 192, 116
Total
16, 042
6,406, 580
6, 406, 580
Survivors of deceased annuitants: 1
Widows under sec. 12 (e) (2)
291
110, 661
140, 664
Widows other than under sec. 12 (c) (2) __
13,039
6, 577, 773
6, 577, 773
Children under sees. 12 (e) (2) and (3). __
759
164, 138
164, 138
All others:
Men..288
92,944
92,944
Women
49
20, 325
20,325
Total
14,420
6, 995, 844
6, 955, 844
Grand total_
197, 148
205, 640, 561
2,471
580, 556
206, 221, 117
1 Includes voluntary annuities continued to survivors.
COST OF BENEFITS PAYABLE UNDER FUND
Each employee pays 6 percent of his compensation into the fund.
The amounts so contributed are credited to the employee's individual
account and, if he leaves service or dies before he has completed 5
years of civilian service, his total credits with interest are returned to
him or to his beneficiary. If an employee leaves service after com-
pleting 5 years but before 20 years of civilian service, he may elect to
have his contributions returned to him with interest, or, in lieu thereof,
he may apply for a deferred annuity beginning at age 62 computed
by the same method as a regular annuity but without choice of a
joint and survivorship option. If he leaves after 20 years of civilian
service, he is paid a deferred annuity beginning at age 62 computed by
the same method as a regular annuity but without choice of a joint
and survivorship option. When the employee qualifies for retirement,
he receives the stipulated retirement allowance based on his service
and salary and if he dies before the payments of this allowance are
equal to his contributions with interest to the retirement date, the
balance is paid to his beneficiary or estate unless there are survivors
entitled to an annuity.
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6 CIVIL SERVICE RETIREMENT AND DISABILITY FUND
The Retirement Act does not set a definite percentage contribution
rate to be paid by the Government but provides that an estimate of
the appropriation necessary to finance the fund be submitted each 101%,
year to the Bureau of the Budget. Two annual contributions are
payable to the fund, namely, a "normal" contribution and a "de-
ficiency" contribution. The normal contribution rate is the average
percentage of the salaries of all new employees that is required to be
paid into the fund from the time they enter service until they leave
service in order to accumulate sufficient funds to pay their benefits.
Part of this normal contribution is met by the employees' contribu-
tions and the remainder represents the normal contribution rate of
the Government. The deficiency contribution is required because
at the time of the establishment of the fund, employees then in service
were given credit for their prior service during which no contributions
had been made by the Government. Therefore, there was an accrued
liability or deficiency to be met by the Government at that time.
Further increases in the deficiency have come about through changes
in the benefit provisions, through the addition of new groups of em-
ployees to whom credit for service rendered prior to their admission
was allowed, and through the fact that the Government's appropria-
tions have not been sufficient to meet the current costs of the fund..
ANNUAL APPROPRIATIONS OF GOVERNMENT ON BASIS OF ESTIMATED
PAYROLL AS OF JUNE 30, 1951
In accordance with the procedure followed in previous reports, the
Board has prepared the following statement as of June 30, 1951, which
gives an estimate of the appropriation required of the Government on
the basis of the estimated payroll of the membership as of that date.
The estimate is based on the cost of the amended act as prepared by
the Board of Actuaries in cooperation with the Civil Service
Commission.
TABLE 2.?Estimated annual contributions required to support the Civil Service
Retirement and Disability Fund prepared as of June 30, 1951
Contribution
Normal cost as?
Deficiency cost as?
Total cost as?
Percent-
age of
payroll
Annual
amount
Percent-
age of
payroll
Annual
amount
Percent-
age of
payroll
Annual
amount
Total
Payable by employees
Payable by Government
8.78
$590, 317, 593
2.90
$194, 979,619
11.68
$786, 297, 205
6.00
2. 78
403, 406, 100
186, 911,493
2. 90
194, 070,689
6.00
5.68
403, 406, 100
381, 891, 108
The preceding table shows the normal cost to support the benefits
accruing on account of current service to be equivalent to 8.78 percent
of payroll. The employees contribute 6 percent toward the normal
cost and, therefore, there remains 2.78 percent to be paid by the Gov-
ernment. On the basis of the estimated payroll as of June 30, 1951,
this represents an annual payment of $186,911,493. The deficiency ask
cost, or the annual cost due to the accrued liability, is shown by the ?I --
table to be $194,979,615. This entire deficiency contribution is a.
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 7
liability of the Government. Therefore, the total annual contribution
recommended for payment by the Government on the basis of the
estimated payroll as of June 30, 1951, is $381,891,108. The actual
e appropriation for the fiscal year 1952 was approximately $313,500,000.
The normal percentage rate of contribution of 2.78 percent was de-
veloped on the basis of the valuation as of September 30, 1947, prepared
by the Civil Service Commission, with an adjustment estimated to
cover the increased cost due to the optional benefits as amended by
Public Law 310, effective September 30, 1949. The deficiency rate of
2.90 percent represents the percentage of payroll as of June 30, 1951,
which produces 4 percent interest on the estimated deficiency as of that
date. This is the minimum payment which will keep the principal
amount of deficiency from increasing. The amount of annual defi-
ciency payment is greater than that shown in last year's report because
the payment made during the year was less then interest at 4 percent
on the deficiency. Hence the deficiency increased during the year so
that a larger payment is needed for the current year to provide the
accruing interest. The percentage rate of payment of 2.90 percent is
less than the corresponding rate last year because the payroll of mem-
bers to which the rate is applied has increased with the result that a
lower percentage of payroll will meet the minimum payment.
LIABILITIES OF FUND ON ACCOUNT OF ANNUITANTS ON THE ROLL AS
OF JUNE 30, 1951
Awe' A valuation of the liabilities of the fund on account of annuitants
on the roll as of June 30, 1951, was prepared and the results of the
valuation are summarized in table 3 below. The mortality tables
used for the valuation were those used in the quinquennial valuation
Nese
made as of Juno 30, 1940. These tables are given in the 22d annual
report of the Board and therefore have not been reproduced in this
report.
TABLE 3.-Liabilities on account of annuitants as of June 80, 1951
Group
Present value of benefits to annuitants
on the roll
Regular
annuities
Voluntary
annuities
Total
annuities
Retired on account or age and voluntary and involuntary
separation
$1,217,820,360
$4, 992, 482,
$1,222, 812, 842
Retired on account of disability
438,131,583
651,672
438, 783, 265
Reversionary annuities to designated beneficiaries 1
201,873,391
201, 873,891
Survivorship annuities
152,582,170
152, 582, 170
Total
2, 010, 407, 504
6, 644, 154
2,016,051, 668
Includes voluntary annuities.
In the 30th annual report of the
of annuities payable to annuitants
were shown to be $1,780,220,393, as
of June 30, 1951, or an increase in
during the last year.
*se'
Board, the liabilities on account
on the roll as of June 30, 1950,
compared with $2,016,051,658 as
liabilities of nearly $236 million
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CIVIL SERVICE RETIREMENT AND DISABILITY .FUND
SUMMARY OF MORTALITY EXPERIENCE OF ANNUITANTS FOR THE YEAR
ENDED JUNE 30, 1951
For the purpose of making a check of the mortality tables for
annuitants, the actual and expected number of deaths and of annuities
canceled by death during the past year were prepared separately for
men and women who had retired on account of age, voluntary and
involuntary separation from service, and for men and women who
had retired on account of disability. The following table summarizes
the results of the comparison.
TABLE 4.?Summary of the comparisons of the actual and expected deaths among
annuitants, July 1, 1950, to June 80, 1951
Group
Number of deaths
Annuities terminated by deaths
Actual
Expected
Difference
Actual
Expected
Difference
Employee annuitants retired
on account of age, voluntary
and involuntary separation:
Men
5,448
5, 492.0
+44 0
$6,967,308
$7, 015, 541
+$48,233
Women
511
641.0
+130.0
517,925
663,680
-F145,755
Employee annuitants retired
on account of disability: I
Men
2, 286
1, 502. 0
?784.0
2, 186, 948
1,400, 139
?786, 809
Women
403
337.0
?66.0
340, 243
284,526
?55,717
I The expected cases of disability are calculated on an aggregate rather than a se ect table, which tends to
show a more favorable experience than would be indicated if select tables were used, due to the sizable
increase in the number of annuitants in recent years. However, the last test of the mortality of deceased
annuitants indicated that the difference in mortality by duration did not, in the opinion of the board, justify
the use of select tables.
A check of the mortality tables used for widows was also prepared
this year. The following table summarizes the comparison.
TALL 5.?Summary of the comparisons of the actual and expected deaths among
survivor annuitants July 1, 1950, to June 30, 1951
Group
Number of deaths
Annuities terminated by deaths
Actual
Expected
Difference
Actual
Expected
Difference
Widows under secs. 12 (c) (1)
12 (c) (2)
78
102. 6
+24. 6
$16944
$57, 605
+$10, 661
Widows under sec. 4 (b)
19
20. 3
+1.3
13, 188
17, 376
+4, 188
Widows under ser 8
256
29.8
+13.8
130, 216
131, 429
+1,213
Total
353
392. 7
+39.7
190, 348
206,410
+16,O2
COMMENTS ON ANNUITANTS' EXPERIENCE
The actual experience of annuitants during the year ended June 30,
1951, has been compared with the experience of previous years and the
following points noted.
In general, the actual experience of annuitants during the year
ended June 30, 1951, followed the trend of previous years. In the case
of pensioners retired on account of age or voluntary separation, the
actual death rates are proving less than the expected rates. In the
case of men, the actual number and annuities canceled by death were
only slightly under the expected, and there was very little change over
that shown last year in the deviation of actual experience from the
expected. However, in the case of women, the departure of the actual
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.111fIVIL SERVICE R M
ETIREMENT AND S MT
experience from the expected was more pronounced, and the difference
was more marked in the year ended June 30, 1951, than in the previous
year, indicating a decreasing rate of mortality among women. The
- = experience to date indicates that more conservative mortality tables
will probably be required for service pensioners.
With respect to employees retired on account of disability, the actual
deaths during the past year exceeded the expected deaths and the
actual annuities terminated by death exceeded the expected annuities
by a wide margin. This condition is consistent with past experience.
The actual deaths among widows and the annuities canceled by
death were less than expected during the past year. However, the
experience to date for widows is limited, and no conclusions can be
reached regarding the use of the present tables until more experience
has accumulated.
CONCLUSION
During the past year there was no legislation adopted which affected
the general structure of the retirement system. However, certain
amendments proposed under Senate bill 995, 82d Congress, have been
under consideration, and under date of July 11, 1951, the Board of
Actuaries prepared a report giving an estimate of the cost of the pro-
posed amendments and commenting on the provisions of the bill.
The Board has been particularly concerned with the provision of the
proposed bill which would change the method of financing the fund
from the reserve method heretofore followed. Under the present
method, the Board determines each year the appropriation needed to
'wow' support the fund on a sound reserve basis as described on pages 5 and
6 of this report. Under the method proposed, the annual appropria-
tion would be the amount needed each year to make the balance in
the fund equal to the sum of the total deductions and deposits in the
fund for persons not retired plus the total present value of all future
payments to persons then on the retirement roll. This would mean
? that the liabilities to be met by the Government on account of active
members would not be covered as they rendered the service that gives
rise to such liabilities, but would be deferred to be met by future
generations of taxpayers or by a reduction in annuities should appro-
priations not be made to pay them.
The Board is glad to report that the Civil Service Commission sup-
ports its viewpoint that the standard full reserve method of financing
should be employed. Under the reserve method the true cost of
benefits is taken into account and provision made for meeting the cost
during the active service of the members. When the Retirement Act
is amended to liberalize benefits, the cost of the new benefits is im-
mediately reflected in the appropriations required for the support of
the fund if the full reserve method of financing is used. The Congress
then knows to what extent it is committing taxpayers to pay for bene-
fits and employees know that present assets are not being dissipated
so as to impair the payment of their future annuities. The reserve
method is used by the majority of sound retirement plans for govern-
mental employees in the various States, and it has been proved to
offer the best protection both to members and to taxpayers. To
members it gives assurance that their benefits will be paid when due
and to taxpayers it gives assurance that no amendments are adopted
which carry a concealed cost to be met at some later date.
14111?' The quinquennial valuation of the system is due in 1952 but will
probably have to be postponed because an appropriation to cover the
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved Thor Ret,T.,englippui?,iEq ITAA-ADDF:11- 0 3 7 2 1 A00 4 0 0 0 1 0 0 0 2 - 3
FD
expenses of the valuation has not been made. The intent of the law
is that an actuarial valuation of the fund should be made at least
once in every 5-year period and oftener if deemed necessary by the
Civil Service Commission. The Board feels that a valuation should
be made in 1952 or as soon thereafter as the data can be collected.
So many changes affecting the membership and their compensation
have taken place since 1947 when the last valuation was made that it
would seem that the Congress would want to have the results of an
actuarial valuation to furnish the facts on which to base sound business
judgment in considering the various changes in the act which are
proposed.
The Board is advising with the Civil Service Commission in regard
to the establishment of a central record system for the fund. As
stated in previous reports, the establishment of a central record system
is believed to be very important. It does not appear appropriate for
the United States Government to maintain its own retirement system
without adequate records, when it requires such records for private
funds as a basis for obtaining Treasury approval for tax purposes.
The Government should operate its own system with as much precision
as similar funds in the various States and cities of the country are
operated.
? SUMMARY OF TABULATIONS OF ANNUITANTS' DATA
The following tables give the number of annuitants and their
annuities as of June 30, 1951, distributed by age for men and women
separately, which were used as a basis for the valuation.
TABLE 6.-The number and regular annuities of annuitants on the roll, classified
by sex and age as of June SO, 1951-retired on account of age and voluntary and
involuntary separations
Age
Men
Women
Age
Men
Women
Num-
ber
Annuities
Num-
ber
Annuities
Num-
ber
Auities
nn
Num-
ber
.
Annuities
41
2
$372
74
woovo
w. 061 03.,C4 Cat-,4W
$5, 897, 016
726
$773,080
42
75
5,579, 627
691
731,377
43
76
4, 703, 893
585
595,439
44
1
732
1
$1, 392
77
3,983, 710
510
318,358
45
9
5,640
1
804
78
3, 341, 349
400
428,182
46
13
9,768
3
2,340
79
2,993, 617
377
387,044
47_
18
12,060
5
4,440
80
2,402, 864
269
268, 679
48
15
8,994
5
4,368
81
2, 101, 528
259
286,848
49
28
21,118
10
9, 192
82
1, 733, 078
210
210,550
ao
63
48,413
18
18,922
83
1, 389, 672
182
178,709
51
78
94,617
as
32,277
84
1, 061, 099
145
135,723
62
77
98,457
28
35,477
85
795, 382
119
116, 770
53
94
126,598
26
37,668
86
592,609
82
78,237
54
94
123,180
25
32,998
87
477,626
66
62,314
55
222
263,042
47
56,603
88
376, 298
51
45, 680
56
661
678,034
159
194,434
89
273, 645
29
27, 140
57
848
834,407
206
220,378
90
176, 584
28
27,781
58
1,091
1,105,434
260
296,402
91
149,701
12
14,002
59
1, 505
1, 393, 232
246
276,669
92
96,964
11
11,043
60
1,859
1,863, 148
288
329,713
93
55,272
9
? 9,342
61
2,477
3, 033, 321
380
494, 405
94
26,691
4
4,657
62
3, 149
3, 976, 082
537
850, 761
95
20,823
5
4,688
63
4, 952
5, 751, 655
960
980, 186
06
9, 449
3
2, 792
84
5,200
6, 139,360
944
923,857
97
1,428
3
2,548
65
5,619
6,681, 809
1,057
1,070,288
98
5,580
66
1,248
6, 482, 066
1,028
1, 041, 468
99
598
67
5,688
7, 185, 988
1,048
1, 048, 177
100
3, 221
68
5,478
7, 168,854
1,023
1, 050, 320
101
754
69
5,484
7,049, 100
917
948, 705
102
70
5,648
7,968,939
950
1,060,607
103
71
6,354
9, 064, 747
1,028
1, 132, 267
104
1
1, 125
72
6,833
7,943,320
981
1,050,971
102,892
130, 276, 396
17,863
18, 839,067
73
8,184
8, 903, 824
859
920,544
Total_
talk
lek
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved For QVnegssRig0;151NiflE2 : IsFr t-Tff RI:A7BW7 2 1 A 0 0 0 4 FUND Fp? 1 0 0 0 2 - 3
Noe
TABLE 7.-The number and voluntary annuities of annuitants on the roll, classified
by sex and age as of June SO, 1951-retired on account of age and voluntary and
involuntary separations
Age
Men
Women
Age
Mon
Women
Num-
ber
Annuities
Num-
ber
Annuities
Num-
ber
Annuities
Num-
ber
Annuities
50
1
$350
71
113
$30,431
28
$5,107
61
1
942
72
86
28,512
27
4,874
52
2
549
73
70
19,961
20
3,362
53
3
$844
74
61
16,851
17
2,281
54
1
74
75
56
15,164
16
2,428
55
4
1,079
1
13
76
39
13,686
12
1,228
56
10
3,268
4
702
77
25
6,703
0
1,141
67
11
3,560
8
1,315
78
28
8,262
7
1,150
58
26
6,213
13
3,188
79
12
4,080
5
1,420
59
24
7,646
8
673
80
13
6,553
7
513
TO
30
8,466
7
1,755
81
11
5,432
1
294
81
32
5,379
14
1,836
82
3
1,860
82
56
13,207
18
2,345
83
1
97
A3
82
18,635
42
7,278
84
4
3,186
-64
108
31,865
25
4,923
85
1
214
85
117
30,360
44
7,452
86
86
106
26,772
39
5,100
87
t7
127
35,181
46
9,152
88
t8
110
33,448
39
6,869
89
2
1,259
89
95
21,691
19
2,902
1, 552
436,514
508
86,861
70
95
26,575
28
5, 664
Total _
TABLE 8.-The number and regular annuities of annuitants on the roll, classified
by sex and age as of June 30, 1951-retired on account of disability
Age
Alen
Women
Age
Alen
Women
Num-
ber
Annuities
ber
Annuities Aaumities
Num-
ber
'J'
ber
Amenities
Annuities
24
?
ocom-ao040C,c0 cnw ..?..4.,-,e0ob0,NW.L00.40topt0046b4N
'CaDoino.o.w 000.i.4.0.4.4.0.WW.NaDb2.WW00.b:
$444
63
..,Wb.Db5C441100et,-,w..1
WNNO.?=0,00W=Nopmpas,wwm.-,,,,,,,
E.D.01-,COCOOMODOWCPOODO,4N4= www.w
81,682,115
395
$366 018
25
1,092
2
$564
64
1,314,042
341
316,522
26
2,808
6
1,332
65
1,134,203
350
316,234
27
1,944
6
1,224
68
083,889
336
302,383
286,175
5
1,225
67
868,981
284
255,189
29
8,736
13
3,824
68
711,035
235
208,125
80
13,953
11
3,602
69
699,427
239
212,368
31
11,164
12
4,009
70
609,006
207
185,421
32
18,983
13
4,748
71
626,998
214
182,886
33
19,413
22
6,704.72
606,374
207
191,638
34
29,806
21
8,248
73
572,315
173
159,568
35
32,394
19
6,561
74
516,940
146
134,467
36
48,015
32
12,442
75
457,291
148
138,366
-37
54,625
36
14,763
76
374,186
125
123,687
.38
50,565
44
18,530
77
202,777
103
06,338
JAI
67,681
37
17,303
78
219,924
107
100,794
40
82,782
53
23,972
79
236,702
81
75,592
41
111,797
47
24,811
80
179,358
71
74,353
42
120,390
70
36,455
81
145,820
67
65,752
43
160,482
95
62,600
82
89,619
34
38,830
44
194,313
88
54,058
83
59,193
25
27,198
45
193,807
103
69,624
84
60,784
15
15,840
46
234,355
108
69,811
85
52,510
13
11,178
47
272,611
142
92,050
86
29,305
11
12,464
48
316,476
147
99,591
87
23,688
1
1,110
49
418,154
226
165,857
88
12,176
5
5,740
50
428,817
216
170,795
89
6,538
1
964
-51
710,231
294
232,479
90
8,961
7
7,280
52
751,795
339
309,617
91
1,246
3
2,285
.53
1,013,019
382
343,256
92
1,080
64
1,203,582
351
319,707
93
2
1,168
55
1,571,784
420
384,563
94
556
1
746
56
1,817,922
446
419,180
95
2,725
1
1,058
67
1,927,821
438
413,997
96
68
2,000, 950
425
402,368
97
1
846
59
2,056,087
494
453,054
98
-60
1,903,469
471
426,013
99
283
81
1,812,351
431
392,722
35,463
33,997,909
10,472
9,124,765
A2
1,757,431
460
442,774
Total..
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved For ReleagP2001/03/02 : CIA-RDP78-03721000400010002-3
12 CIVIL zmRVICE RETIREMENT AND DISABILITY FUND
TABLE 9.?The number and voluntary annuities of annuitants on the roll, classified
by sex and age as of June 30, 1,951?Retired on account of disability
Age
Men
Women
Age
Men
Women
Num-
ber
Annuities
um-
N ber
Annuities
Num-
ber
Annuities
Num
ber
Annuities
33
4..4 ci CV e0 CV Cg t'?
?
$25
59
17
4- J.- ,-? ...- 1-...,-$...1...F,P`
00 a, c. to ,p.. 4, ? cc toot 4,- op 00 . o CO o
o Oa 0 ...4.4 0 03 CI. b., t..D Qin Co.". 0 0 t?.. 14.? GO ...
0 toot ...1 IP. 0 00 0 NIA 0 0 PC, 1." . V CO 1--, CO
14
$2,212
34
60
22
6
168
35
61
17
3
169
36
3
62
22
13
1,064
37
14
63
16
5
506
88
1
$16
64
12
6
734
39
173
65
9
5
523
40
66
10
6
sso
41
59
67
6
2
707
42
68
4
3
129
43
152
69
7
3
667
44
268
70
5
6
1,106
45
303
1
3
71
2
4
356
46
608
72
2
2
116
47
508
1
11
73
3
3
479
48
209
1
101
74
4
2
60
49
195
75
3
1
44
50
322
3
27
76
3
51
858
1
40
77
3
52
630
5
507
78
1
1
117
53
949
4
277
79
51
649
2
257
80
55
1,755
5
422
81
1
61
56
1,925
5
756
285
43, 148
126
14,088
57
2,096
7
1,195
Total_
58
3.736
4
680
TABLE 10.?The number and annuities of survivor annuitants on the roll, classified AllA
by age as of June 30, 1,951, survivors of deceased employees
CHILDREN
Age
Number
Annuities
Age
Number
Annuities
Under 6 months
20
$3,228
23 years
5
$960
1 year
60
9, 000
24 years
11
3, 156
2 years
119
15,900
25 years
6
1,176
3 years
199
27, 552
26 years
8
2, 448
4 years
257
38,564
27 years
5
1, 116
5 years
249
40,860
28 years
10
1,488
6 years
275
42, 612
29 years
8
1, 824
7 years
299
48, 240
30 years
3
816
8 years
319
52,428
31 years
4
1,032
9 years
358
61,848
32 years
2
528
10 years
358
65,664
33 years
6
1, 596
11 years
393
73,212
34 years
3
636
12 years
406
80, 016
35 years
5
1, 380
13 years
433
84, 504
36 years
5
1, 308
14 years
499
96, 588
37 years
1
312
15 years
547
116,580
38 years
3
636
16 years
664
117,936
39 years
4
1,176
17 years
611
135,708
40 years
18 years
262
54, 168
41 years
3
960
19 years
3
504
42 years
1
120
20 years
9
2,436
43 years
2
144
21 years
3
828
6,342
1,192, 116
22 years
7
1, 188
Total
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved For Release 2001/03/02 : CIA-RDP78-U721A000400010002-3
CIVIL SERVICE RETIREMENT AND DISABILITY FUND 13
NIS TABLE 10.?The number and annuities of survivor annuitants on the roll, classified
by age as of June 80, 1951, survivors of deceased employees?Con.
WIDOWS
Age
Number
Annuities
Age
Number
Annuities
r?,
000 C 0000-' 0000 tO 000 400 tO 1-st.D
N cm Go CD 0 Co C.D Co CO O. WM... MO> MO
18 years
53 years
577
$298, 572
19 years
54 years
462
257, 172
20 years
55 years
478
262, 304
21Iyears
56 years
493
265, 380
22 years
57 years
467
289,092
23 years
58 years
436
249, 408
24'years
69 years
418
259, 620
25 years
60 years
378
220,328
26 years
61 years
320
202, 620
27iyears
62 years
332
217, 260
28Iyears
63 years
300
190, 860
29 years
64 years
197
128,484
30 years
65 years
186
113, 520
31 years
66 years
171
111,060
32 years
67 years
160
104,472
33 years
68 years
129
87,048
34 years
69 years
104
56, 748
35 years
70 years
87
58256
36 years
71 years
79
47, 268
37 years
72 years
58
29, 568
381years
73 years
50
26, 724
39 years
74 years
36
19, 632
40)years
75 years
20
8, 160
41 years
76 years
11
3,804
42 years
77 years
9
5, 640
43 years
78 years
7
1,644
44 years
79 years
1
120
45lyears
80 years
2
300
46'years
81 years
2
864
47 years
82 years
3
1500
481years
83 years
1
2, 748
49 years
84 years
1
144
50Iyears
86 years
1
264
511years
9, 700
5, 214,464
52;years
Total
TABLE 11.?The number and annuities of survivor annuitants on the roll, classified
Now
by age as of June 80, 1951?Survivors of deceased annuitants'
CHILDREN
Age
Number
Annuities
Age
Number
Annuities
1
0-400000004,4,000000000
NO?-400N-4WWCAWOO,W00-.3W
$288
18
49
$12,780
2
1,284
19
2
708
3
1,440
20
2
372
4
3,348
21
1
96
5
6,312
23
2
720
6
5,124
25
2
216
7
7,848
29
2
672
8
6,732
30
3
1,032
0
8 628
31
1
360
10
9,288
33
2
720
11
9,679
35
1
228
12
7,404
37
2
540
13
11,047
38
1
360
14
15,252
41
1
84
15
14,884
47
1
480
16
17,940
759
164, 138
17
18,612
Total
Includes voluntary annuities continued to survivors.
47484-54-8
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved For Releagt2001/03/02 : CIA-RDP78-03721000400010002-3
14
CIVIL SERVICE RETIREMENT AND DISABILITY FUND
TABLE 11.-The number and annuities of survivor annuitants on the roll classified
by age as of June SO, 1951-Survivors of deceased annuitants 1-Continued
WIDOWS UNDER SEC. 12 (c) (2)
Age
Number
Annuities
Age
Number
Annuities
25
00 -.II-, 0 -4a 0 -4
,Ss 00 G) C CO CTS 0 0 05 0 00 0.
00 0 g, to to too Cm too 000 4,
0 CT
CO CO -4 0> CT 51, 05
0
13
$5,572
29
13
6,420
30
23
11,826
31
11
5,496
32
18
9,228
33
29
15,336
34
24
13,927
35
25
13,584
36
11
5,796
37
7
6,000
38
3
1,524
39
291
140,664
40
41
WIDOWS OTHER THAN UNDER SEC. 12(c) (2)
22
1
$435
62
457
$239,373
25
1
127
63
491
265,722
29
2
255
64
459
252,057
30
2
380
65
525
292,828
31
4
950
66
525
294,382
32
5
1,409
67
617
336,550
33
4
1,076
68
530
286,182
34
6
1,688
69
513
267,268
35
13
3,911
70
470
245,670
36
15
3,364
71
510
262,533
37
17
5,919
72
461
246,373
38
20
6,437
73
451
228,448
39
27
7,742
74
436
228,580
40
24
8,179
75
423
217,116
41
35
10,719
76
336
161,173
42
44
16,495
77
309
148,771
43
54
21,072
78
245
130,301
44
51
15,700
79
243
120,136
45
53
16,959
80
183
92,794
46
76
27,848
81
136
66,165
47
77
29,670
82
107
49,538
48
103
39,979
83
94
45,180
49
94
33,574
84
63
30,954
50
130
61,882
85
45
21,628
51
219
94,842
86
39
16,697
52
212
95,980
87
23
10,954
53
243
115,425
88
14
. 7,098
54
252
113,966
89
10
4,618
55
268
126,106
90
3
1,860
56
327
162,743
91
4
1,766
57
300
150,187
92
3
1,093
58
369
181,857
93
2
548
59
369
182,091
100
1
241
60
420
227,635
13,039
6,577,773
61
483
246,634
Total
1 Includes voluntary annuities continued to survivors.
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 15
TABLE 11.-The number and annuities of survivor annuitants on the roll classified
by age as of June 30, 1951-Survivors of deceased annuitants '-Continued
ALL OTHERS
Naroof
Age
Men
Women
Age
Men
Women
Num-
ber
Annuities
Num-
ber
Annuities
Num-
ber
A nnues
iti
Num-
ber
Annuities
19
1
$516
63
7
$2,243
1
$1,160
22
1
26
64
4
1,151
1
322
27
28
1
137
1
$612
65
66
8
7
3,268
1,839
1
324
31
1
237
67
8
2,910
1
794
33
1
164
68
9
2,345
2
1,812
36
37
1
1
388
91
1
81
69
70
5
6
1,467
1,894
3
3,240
38
39
2
328
2
2
644
444
71
72
16
14
5,294
9,990
1
387
40
3
492
1
344
73
3
1,221
1
399
11
12
1
3
553
618
2
1
1,313
28
74
75
11
8
3,982
2,805
1
278
43
1
147
1
225
76
10
3,078
14
45
2
3
1,795
786
1
1,303
77
78
8
9
2,253
2,918
1
384
16
1
498
1
216
79
6
1,127
17
2
463
2
618
80
6
1,901
18
2
261
1
117
81
7
1,584
19
1
447
82
4
1,930
50
6
886
1
576
83
7
3,058
51
52
1
5
195
1,735
1
-
68
84
85
1
3
331
869
1
155
53
3
638
1
181
86
1
596
54
3
578
2
421
87
1
342
55
4
1,940
1
64
88
1
39
56
10
3,211
1
969
89
2
877
57
11
3,347
1
142
90
1
315
58
11
4,086
2
364
91
1
270
59
8
1, 907
4
1,239
94
1
308
40
41
5
10
1,817
3,613
1
428
99
1
37
42
9
3,2115
2
282
Total_
288
92, 944
49
20.325
1 Includes voluntary annuities continued to survivors.
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THIRTY-SECOND ANNUAL REPORT OF THE BOARD
OF ACTUARIES OF THE CIVIL SERVICE
RETIREMENT AND DISABILITY FUND
AS OF JUNE 30, 1952
17
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LETTER OF SUBMITTAL
NEW YORK CITY, July 29, 1953.
UNITED STATES CIVIL SERVICE COMMISSION,
Washington, D. C.
LADIES AND GENTLEMEN: The Board of Actuaries appointed under
section 16 of the act of May 22, 1920, for the retirement of employees
in the civil service of the United States, has the honor to submit
herewith its 32d annual report on the operation of the fund.
In accordance with the practice of the Board in the past, the report
gives a statement of the appropriation required of the Government
under the Retirement Act, as amended, on the basis of the estimated
membership of the fund as of June 30, 1952.
Respectfully submitted.
GEO. B. BUCK,
R. R. REAGH,
JOHN P. JONES,
Board of Actuaries, Civil Service Retirement and Disability Fund.
ID
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THIRTY-SECOND ANNUAL REPORT OF THE BOARD OF AC-
TUARIES OF THE CIVIL SERVICE RETIREMENT AND DIS-
ABILITY FUND
The civil service retirement and disability fund was established in
1920 to furnish retirement benefits to officers and employees of the
United States Government who become superannuated in govern-
mental service or incapacitated before attaining old age. The
Retirement Act makes provision for a Board of Actuaries of the Civil
Service Retirement Act and in section 16 defines the chief duties of
the Board to be as follows:
* * * to annually report upon the actual operations of this Act, with authority
to recommend to the Civil Service Commission such changes as in their judgment
may be deemed necessary to protect the public interest and maintain the system
upon a sound financial basis, and they shall make a valuation of the "civil-service
retirement and disability fund" at intervals of five years, or oftener if deemed
necessary by the Civil Service Commission; they shall also prepare such tables
as may be required by the Civil Service Commission for the purpose of computing
annuities under this Act * * *
This report, which has been prepared as of June 30, 1952, is the 32d
annual report of the Board of Actuaries. The report gives first a
'grow summary of the main benefit and contribution provisions of the act
as amended to June 30, 1952. Then statements are included regarding
the active and retired membership. Next the estimated appropria-
lis, tion recommended for payment by the Government on the basis
of the estimated membership as of June 30, 1952, is given. This
is followed by statements giving the results of a valuation of the
liabilities of the fund on account of annuities in force on the roll as
of June 30, 1952, and the results of the mortality experience of annu-
itants for the past year. In conclusion the Board gives certain
comments on the history of the fund and its financial operation.
SUMMARY OF BENEFIT AND CONTRIBUTION PROVISIONS OF THE CIVIL
SERVICE RETIREMENT AND DISABILITY FUND
The retirement act was amended as of July 16, 1952, to provide
temporary increases in annuities for persons then receiving or entitled
to receive annuities. The increases will terminate not later than
June 30, 1955, and their payment until that date is contingent upon
the receipt of special appropriations to cover the amount of the
increase. The following summary states the main benefit and con-
tribution provisions of the act, as they were interpreted by the Board
of Actuaries.
BENEFITS
Service retirement
Condition for eligibility.i?Retiroment is compulsory at age 70 after
New" 15 years of service.
1Certain employees who have rendered 20 years of service in the investigation, apprehension, or detention
of persons suspected or conuicted of offenses against the criminal laws of the United States are eligible to
Ng/ retire after age 50 and receive an annuity of 2 percent of average basic salary for any 5 consecutive years
multiplied by the number of years of service not exceeding 30 years.
21
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22 CIVIL SERVICE RETIREMENT AND DISABILITY FUND
Retirement is permissible at the option of the employee at age 60
after 30 years of service or at age 62 after 15 years of service.
At the option of the employee at age 55 after 30 years of service
or upon involuntary separation not due to misconduct or delinquency
after 25 years of service, an immediate annuity is payable equal to the
regular annuity reduced by % percent for each month the employee
is under age 60.
Amount of benefit.2?The annuity is determined by one of two plans,
whichever provides the larger benefit:
Plan I. An annuity equal to 1% percent of average annual basic
salary for each year of service but no such annuity is to exceed 80
percent of average annual basic salary.3
Plan II. An annuity equal to 1 percent of average annual basic
salary plus $25 for each year of service, but no such annuity is to
exceed 80 percent of average annual basic salary.3
Disability retirement
Condition for eligibility.?Retirement is permissible upon disability
after 5 years of civilian service.
Amount y benefit.?The benefit is determined by the same method
as used for service retirement.
Any compensation for disability paid from the United States
employees' compensation fund is deducted from the annuity benefit
payable on account of the same disability.
Discontinued service retirement
Condition for eligibility.?Upon separation from service after 5 or
more years of civilian service, a deferred annuity is payable.
Amount of benefit.?The deferred annuity begins at age 62 or at age
of separation, if later, and is computed by the same method as the
regular annuity but without choice of a joint and survivorship option.
If the employee has less than 20 years of civilian service, be may
elect to receive his contributions with interest at 4 percent to Decem-
ber 31, 1947, and 3 percent thereafter to date of separation in lieu of
the deferred annuity.
Return of contributions upon 'withdrawal from active service
Return of total contributions is made upon withdrawal from active
service before 5 years of civilian service. Interest at 4 percent to
December 31, 1947, and at 3 percent thereafter is allowed if service is
in excess of 1 year.
Return of contributions on death before retirement
On death before 5 years of civilian service or after 5 years of civilian
service when there is no survivor entitled to an annuity, return of
total contributions is made with interest at 4 percent to December 31,
1947, and 3 percent thereafter to date of death of the employee.
Return of contributions on death before commencement of payment under
a deferred annuity
Return of total contributions is made upon death before commence-
ment of deferred annuity. (Interest is allowed at 4 percent to Decem-
ber 31, 1947, or to date of separation, whichever is earlier, and 3 per-
cent thereafter to date of death.)
?rhs
An additional annuity of $36 for each year of certain specified service in Alaska or on the Isthmus of
Panama is allowed officers and employees who are citizens of the United States.
? 8 Average annual basic salary is used to denote the average annual basic salary received by the employee
darin am/ 5 consecutive years of allowable service at the option of the employee.
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 23
view' Return of contributions upon death after retirement
Upon death before the payments of the annuity amount to con-
tributions (with interest at 4 percent to December 31, 1947, and 3
Award percent thereafter to date of retirement) the difference is paid, unless
there is a survivor entitled to an annuity.
Annuities to dependents upon death in active service
Condition for eligibility.?Annuities to dependents are paid upon
death of an employee in active service after 5 years of civilian service.
Amount of benefit.?(a) If survived by a widow, an annuity begin-
ning the first of the month following the death of the employee or
widow's attainment of age 50, whichever later, equal to one-half
regular annuity is payable to the widow until death or remarriage.
(b) If survived by a widow and a child or children, in addition to
(a), an immediate annuity equal to one-half regular annuity to the
employee is payable to the widow until death, remarriage, or attain-
ment of age 50. Also an immediate annuity equal to one-fourth of
the regular annuity, not in excess of $900 divided by the number of
children, or $360, whichever is lessor, is payable to each child.
The annuity payable to a child is terminated upon attainment of
age 18, marriage, or death, whichever is earlier.
(c) If survived by a child or children and there is no widow or
widower, an immediate annuity equal to one-half regular service
annuity, not in excess of $1,200 divided by the number of children, or
$480, whichever is lesser, is payable to each child until attainment of
age 18, marriage, or death, whichever is earlier.
NNW
Upon death of the widow, the annuity payable under (b) to a child
or children is recomputed and paid as provided in (c).
Upon termination of the annuity of a child, the annuities to other
Now, children are recomputed as though the child whose annuity was
terminated had not survived the employee.
Optional benefits
At retirement a married employee may elect to receive in lieu of his
or her regular annuity a reduced annuity payable during the em-
ployee's life and an annuity payable to the surviving widow or widower
equal to 50 percent of the regular annuity before reduction. The
annuity to the survivor commences upon the employee's death or the
survivor's attainment of age 50, whichever is later, and ceases upon
death or remarriage. The reduction in the employee's annuity is
5 percent of so much of the regular annuity as does not exceed $1,500,
plus 10 percent of any excess over $1,500, plus three-fourths of 1 per-
cent for each year the spouse lacks of being age 60 at the date of retire-
ment, but in no case shall the reduced annuity be less than 75 percent
of such regular annuity.
At service retirement any unmarried employee in good health may
elect to receive in lieu of his regular annuity a reduced annuity pay-
able during his life and an annuity payable after his death to a sur-
vivor annuitant equal to 50 percent of such reduced annuity and,
upon death of a survivor annuitant, all payments cease. The an-
nuity payable to the employee is as follows: 90 percent of life annuity
if survivor is same age or older or is less than 5 years younger than
annuitant; 85 percent of life annuity if survivor is 5 but less than
10 years younger than annuitant: 80 percent of life annuity if survivor
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24 CIVIL SLuVICE RETIREMENT AND DISABILITY FUND
is 10 but less than 15 years younger than annuitant; 75 percent of life
annuity if survivor is 15 but less than 20 years younger than annuitant;
70 percent of life annuity if survivor is 20 but less than 25 years
younger than annuitant; 60 percent of life annuity if survivor is 25 or
more years younger than annuitant.
Annuities to dependents upon death after retirement
Benefits to widows with children and to children upon death of
annuitants are similar to those payable upon death of employee in
active service, except that benefits are based on regular annuity paid
to annuitant and the annuity payable to the widow with a child or
children terminates upon death, remarriage, or attainment of age 50,
unless an optional benefit was selected by annuitant. No benefits
are payable to dependents of annuitants retired on account of dis-
continued service.
Benefits to annuitants retired prior to April 1, 1948
Benefits to annuitants retired prior to April 1, 1948, were increased
by 25 percent or by $300, whichever was less, provided any such
annuitant could, prior to April 1, 1948, elect to retain his or her
present annuity in lieu of the increased annuity and provide that
one-half of such present annuity, but not to exceed $600, be continued
to his wife or her husband until death. Effective September 1, 1950,
the annuities of those who in 1948 elected survivor benefits were
increased as stated above. Survivor benefits, as previously described,
were granted those who in 1948 elected the increase, applicable in any
case where death occurs after April 30, 1948, but no survivor annuity
was payable for any period prior to September 1, 1950.
No change was made in deferred annuities payable to employees
separated from service prior to April 1, 1948.
CONTRIBUTIONS
By employees
Employees pay 6 percent of salary commencing July 1, 1948.
Any employee may at his option and under regulations prescribed
by the Civil Service Commission deposit additional sums in multiples
of $25 but not to exceed 10 percent of his annual salary for service
rendered since August 1, 1920, for the purchase of an additional
annuity.
By Government
Annual appropriations required in addition to employees' contribu-
tions to support the plan are to be made by the Government.
ESTIMATED ACTIVE MEMBERSHIP AS OF JUNE 30, 1952
The active membership of the fund as of June 30, 1952, was esti-
mated by the Civil Service Commission to consist of 1,700,000 em-
ployees with an annual payroll of $6,468,500,000.
ANNUITANTS ON THE ROLL AS OF JUNE 30, 1952
The following table summarizes the number and amount of annuities
in force on June 30, 1952, as shown by the records of annuitants
maintained by the Civil Service Commission. On pages 33 to 37 of
h
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 25
this report, the distributions of the number and annuities of annuitants
on the roll as of June 30, 1952, by age are given for men and women
separately. The tabulations show survivors of deceased employees
and survivors of deceased annuitants separately.
TABLE 1.- The number and annual annuities of annuitants on the roll Tune 80, 1952
roup
?
Regular annuities
Voluntary annuities
Total annul-
ties
Number
Amount
Number
Amount
Retired on account of age and voluntary and
Involuntary separations:
Men
Women
Total
108, 293
19, 760
$141,
21,
455,
358,
001
821
1,
747
604
$503, 214
110,388
$141,
21,
958,
469,
248
212
128, 053
162,
813,
828
2,
351
613, 632
163,
427,
460
Retired on account of disability:
Men
Women
Total
37, 220
11, 057
36,
9,
224,
737,
820
424
322
137
52, 224
15, 420
36,
9,
277,
752,
044
844
48, 277
45,
962,
244
459
67, 644
46,
029,
888
Survivors of deceased employees:
Widows under sec. 12 (c) (1)
9, 216
5,
533,
836
5,
533,
836
Widows under sec. 12 (c) (2)
3, 725
1,
601,
508
1,
604,
508
Children under secs. 12 (c) (2) and (3) _ __
Total
8.107
1,
537,
518
5,537,
548
21,047
8,
675,
892
8,
675,
892
Survivors of deceased annuitants: 1
Widows under sec. 12 (c) (2)
405
196,
500
196,
500
Widows other than under sec. 12 (c) (2)__
16, 958
8,
743,
272
8,
743,
272
Children under secs. 12 (c) (2) and (3) _ __
1, 062
228,
852
228,
852
All others:
Men
372
120,
192
120,
192
Women
58
25,
968
25,
968
Total
Grand total
18, 855
9,
314,
784
9,
314,
784
216, 232
226,
766,
748
2,
810
681, 276
227,
448,
024
1 Includes voluntary annuities continued to survivors.
COST OF BENEFITS PAYABLE UNDER FUND
Each employee pays 6 percent of his compensation into the fund.
The amounts so contributed are credited to the employee's individual
account and, if he leaves service or dies before he has completed 5
years of civilian service, his total credits with interest are returned to
him or to his beneficiary. If an employee leaves service after com-
pleting 5 years but before 20 years of civilian service, he may elect to
have his contributions returned to him with interest, or, in lieu thereof,
he may apply for a deferred annuity beginning at age 62 computed by
the same method as a regular annuity but without choice of a joint
and survivorship option. If he leaves after 20 years of civilian service,
he is paid a deferred annuity beginning at age 62 computed by the
same method as a regular annuity but without choice of a joint and
survivorship option. When the employee qualifies for retirement, he
receives the stipulated retirement allowance based on his service and
salary and if he dies before the payments of this allowance are equal
to his contributions with interest to the retirement date, the balance
is paid to his beneficiary or estate unless there are survivors entitled
to an annuity.
The Retirement Act does not set a definite percentage contribution
rate to be paid by the Government but provides that an estimate ol
,
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26 CIVIL SERVICE RETIREMENT AND DISABILITY FUND
the appropriation necessary to finance the fund be submitted each
year to the Bureau of the Budget. Two annual contributions are
payable to the fund, namely, a "normal" contribution and a "defi-
ciency" contribution. The normal contribution rate is the average
percentage of the salaries of all new employees that is required to be
paid into the fund from the time they enter service until they leave
service in order to accumulate sufficient funds to pay their benefits.
Part of this normal contribution is met by the employees' contribu-
tions and the remainder represents the normal contribution rate of
the Government. The deficiency contribution is required because at
the time of the establishment of the fund, employees then in service
were given credit for their prior service during which no contributions
had been made by the Government. Therefore, there was an accrued
liability or deficiency to be met by the Government at that time.
Further increases in the deficiency have come about through changes
in the benefit provisions, through the addition of new groups of em-
ployees to whom credit for service rendered prior to their admission
was allowed, and through the fact that in certain years since the fund-
ing policy was adopted the Government's appropriations have not been
sufficient to meet the current costs of the fund.
ANNUAL APPROPRIATIONS OF GOVERNMENT ON BASIS OF ESTIMATED
PAYROLL AS OF JUNE 30, 1952
In accordance with the procedure followed in previous reports, the
Board has prepared the following statement as of June 30, 1952, which
gives an estimate of the appropriation required of the Government on
the basis of the estimated payroll of the membership as of that date.
TABLE 2.?Estimated annual contributions required to support the Civil Service
Retirement and Disability Fund prepared as of June 30, 1952
Contribution
Normal cost as?
Deficiency cost as?
Total cost as?
Percent-
age of
payroll
Annual
amount
Percent-
age of
payroll
Annual
amount
Percent-
age of
payroll
Annual
amount
Total
Payable by employees
Payable by Government
8. 78
$567, 934, 300
3.06
$197, 936,100
11.84
8763,870,400
0.00
2.78
388, 110.000
179, 824, 300
3.06
197, 936, 100
0.00
5.84
388, 110, 000
377, 760,400
Arek
The preceding table shows the normal cost to support the benefits
accruing on account of current service to be equivalent to 8.78 percent
of payroll. The employees contribute 6 percent toward the normal
cost and, therefore, there remains 2.78 percent to be paid by the
Government. On the basis of the estimated payroll as of June 30,
1952, this represents an annual payment of $179,824,300. The de-
ficiency cost, or the annual cost due to the accrued liability, is shown
by the table to be $197,936,100. This entire deficiency contribution
is a liability of the Government. Therefore, the total annual contri-
bution recommended for payment by the Government 'Onthe basis of
the estimated payroll as of June 30, 1952, is $377,760,400. The actual
appropriation for the fiscal year 1953 was approximately $325,304,154.
The normal percentage rate of contribution of 2.78 percent was Oak
developed on the basis of the valuation as of September 30, 1947,
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"TIVIL SERVICE RETIREMENT AND DISABILITY FUND 27
prepared by the Civil Service Commission, with an adjustment esti-
mated to cover the increased cost due to the optional benefits as
amended by Public Law 310, effective September 30, 1949. The de-
ficiency rate of 3.06 percent represents the percentage of payroll as of
June 30, 1952, which produces 4 percent interest on the estimated
deficiency as of that date. This is the minimum payment which will
keep the principal amount of deficiency from increasing. The amount
of annual deficiency payment is greater than that shown in last year's
report because the payment made during the year was less than in-
terest at 4 percent on the deficiency. Hence the deficiency increased
during the year so that a larger payment is needed for the current
year to provide the accruing interest.
LIABILITIES OF FUND ON ACCOUNT OF ANNUITANTS ON THE ROLL AS
OF JUNE 30, 1952
A valuation of the liabilities of the fund on account of annuitants
on the roll as of June 30, 1952, was prepared and the results of the
valuation are summarized in table 3 below. The mortality tables
used for the valuation were those used in the quinquennial valuation
made as of June 30, 1940. These tables are given in the 22d annual
report of the Board and therefore have not been reproduced in this
report.
TABLE 3.-Liabilities on account of annuitants as of June 30, 1952
Group
*me
Present value of benefits to annuitants on
the roll
Regular
annuities
Voluntary
annuities
Total
annuities
Retired on account of age and voluntary, and involuntary
separation
Retired on account of disability
$1, 329, 929, 205
464, 326, 889
$5,
834, 110
752,819
$1, 335,
465,
703,315
079, 708
Reversionary annuities to designated beneficiaries 1
216, 927,312
216,
927, 312
:Survivorship annuities 1
203, 243, 076
203,
243, 076
Total
2,214,426,482
6,
586, 929
2,221,
013,411
Includea voluntary annuities.
In the 31st annual report of the Board, the liabilities on account
-of annuities payable to annuitants on the roll as of June 30, 1951,
were shown to be $2,016,051,658, as compared with $2,221,013,411 as
-of June 30, 1952, or an increase in liabilities of nearly $205 million
-during the past year.
SUMMARY OF MORTALITY EXPERIENCE OF ANNUITANTS FOR THE YEAR
ENDED JUNE 30, 1952
For the purpose of making a check of the mortality tables for
annuitants, the actual and expected number of deaths and of annuities
canceled by death during the past year were prepared separately for
men and women who had retired on account of age, or voluntary or
involuntary separation from service, and for men and women who had
Now' retired on account of disability. The following table summarizes the
results of the comparison.
vow'
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28 CIVIL SERVICE RETIREMENT AND DISABILITY FIIND
TABLE 4.?Summary of the comparisons of the actual and expected deaths among
annuitants July 1, 1951, to June 30, 1952
Group
Number of deaths
Annuities terminated by deaths
Actual
Expected
Difference
Actual
Expected
Difference
Employee annuitants retired
on account of age, voluntary,
and involuntary separation:
Men
Women
Employee annuitants retired
on account of disability:
Men
Women
6, 845
587
2,406
424
5, 891. 8
720. 3
1, 590.7
356.1
+46.8
+133.3
?815.3
?67.9
$7,484, 400
596,772
2,348,148
374,472
$7,654,104
755,820
1, 495, 056
302,172
+$169, 704
+159,048
?853,092
?72, 300
I The expected cases of disability are calculated on an aggregate rather than a select table, which tends to
show a more favorable experience than would be indicated if select tables were used, due to the sizable
increase in the number of annuitants in recent years. However, the last test of the mortality of deceased
annuitants indicated that the difference in mortality by duration did not, in tho opinion of the Board,
justify the use of select tables.
A check of the mortality tables used for widows was also prepared
this year. The following table summarizes the comparison.
TABLE 5.?Summary of the comparisons of the actual and expected deaths among
survivor annuitants, July 1, 1951, to June 80, 1952
Group
Number of deaths
Annuities terminated by deaths
Actual
Expected
Difference
Actual
Expected
Difference
Widows under secs. 12 (c) (1)
and 12 (e) (2)
114
148. 5
+34. 5
$65, 484
$85,524
+$20, 040
Widows under sec. 4(b)
Widows under sec. 8
25
382
37.6
412.9
+12. 6
+30. 9
24,048
179,424
32,364
198,432
+8, 310 40111
+19,008 ,
Total
521
599.0
+78.0
268,956
316,320
+47, 361
COMMENTS ON ANNUITANTS' EXPERIENCE
The actual experience of annuitants during the year ended June 30,
1952, has been compared with the experience of previous years and the
following points noted.
In general, the actual experience of annuitants during the year ended
June 30, 1952, followed the trend of previous years. Again among
pensioners retired on account of age or voluntary separation, there
were fewer deaths than expected. In the case of men, however, the
actual number of deaths were 99 percent of the expected which was the
same relationship as obtained during the previous year and the actual
amounts of annuities canceled by death represented about the same
percentage of the annuities expected to be canceled as in the previous
year. In the case of women, the departure of the actual experience
from the expected continues to be more pronounced than in the case
of men but there was not much change in the experience of the past
year from that of the previous year. By number, the actual deaths
represented 81.5 percent of the expected as contrasted with 79.7 per-
cent the previous year and by annuities the percentages were 79 per- A0110A
cent during the past year as contrasted with 78 percent during the
previous year.
4111kt
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 29
With respect to employees retired on account of disability, the
experience followed that of past years. The actual deaths during
the past year exceeded the expected deaths and the actual annuities
terminated by death exceeded the expected annuities by a wide
margin.
The table used for widows is the same as for women employees and
as in the case of women employees the actual experience is showing
that the table is not conservative.
The Board recommends that when a new valuation of the fund is
prepared, the matter of mortality tables to be used be reviewed, with
the thought that at least for women more conservative tables should be
used.
REVIEW OF HISTORY OF CIVIL SERVICE RETIREMENT AND DISABILITY
FUND
The civil service retirement and disability fund was established
under an act of Congress May 22, 1920. A retirement age of 70 was
set as the normal retirement age for general employees and the maxi-
mum pension payable was $720 per annum. Employees were required
to pay 2Y2 percent of their pay. No appropriations by the Govern-
ment were payable. The first annual report of the Board of Actuaries,
which was issued as of June 30, 1921, showed that the cost of the bene-
fits promised under the act was equivalent to an annual contribution
of 5.87 percent of payroll and with the employees paying 2.50 percent
of salary an unfunded cost was accruing equivalent to 3.37 percent of
New payroll.
The fund continued without change until 1926 when the benefits
were increased to provide annuities based on the average cornpensa-
Iwo tion of the last 10 years of service, with a maximum annuity of $1,000
per annum to an employee with 30 or more years of service at retire-
ment. At the same time employees' contributions were increased to
3Y2 percent of payroll. No appropriations were payable by the Gov-
ernment and the fund continued to be supported on the basis of em-
ployees' contributions, with the interest earnings, until the fiscal year
1929 when the first annual appropriation was made by the Govern-
ment. During the years that had elapsed since the fund was estab-
lished the annuity roll had increased from $3,650,000 per annum to
over $12,300,000. The annuitants themselves had contributed for
very short periods and had covered by their own contributions only
a very small part of the cost of their annuities, and therefore the contri-
butions of employees in active service were being drawn upon to pro-
vide the current payments to annuitants. Since employees were
entitled to receive annuities in excess of what their own contributions
would provide, if they stayed in until retirement, and to receive the
amount contributed with interest, if they left before retirement or
died before retirement, a deficiency was developing in the fund which
would have to be paid up sooner or later if the contributing employees
were to receive their full benefits. The Republican administration
at that time took the position that the public should know what costs
the taxpayers were accruing on account of civil service annuities and
N.,er should meet the accruing cost by appropriations to the fund. The
first appropriation on this basis was made for the fiscal year 1929.
Nupl
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30 CIVIL SERVICE RETIREMENT AND DISABILITY FUND
Employees were not satisfied with the retirement provisions. A.
number of proposals for liberalizing the benefits were submitted.
The Board of Actuaries made numerous estimates of the cost of the
various proposals so that Congress would know what liability was,
being incurred by any change and would not adopt any liberalizing
amendment without knowledge of its cost. The employees were
particularly anxious for a 30-year retirement provision. Under
amendments effective May 29, 1930, a provision was adopted for
retirement 2 years before the normal retirement age provided the
employee had at least 30 years of service. This meant a minimum
normal retirement age of 68 for general employees. Also the benefit
was increased to $900 per annum after 30 years of service plus the
annuity that the members' contributions would provide or, if greater,
a benefit based on average final salary but not exceeding an annuity of
$1,200 per annum. Employees' contributions were not changed but
provision was made for deducting from their contributions $1 per
month. This contribution went into a general fund and not to the
employee's credit in determining his refund at resignation or his
annuity at retirement.
In 1939 a new minimum benefit was included, namely, that the
Government annuity be at least equal to the annuity provided by the
member. Then in 1942 the act was further amended to permit retire-
ment at age 60 after 30 years of service or at age 62 after at least 15
years of service. A further minimum was added fixed at the rate of
one-seventieth of average compensation of the last 5 years of service
for each year of service. Vesting benefits after 5 years of service were
added. The employees' contributions were increased to 5 percent of
salary. Again in 1948 the act was amended to provide death benefits Am&
to widows and children, and to introduce an entirely new benefit
formula of 1% percent of the average salary of the last 5 years of service
for each year of service but not less than 1 percent of such average
salary plus $25. The employees' contributions were increased to 6
percent and the deduction of $1 from credited contributions was
eliminated.
During this period of liberalization of the benefits of the fund no,
change in the retirement law regarding appropriations by the Govern-
ment was made. Each year the Board of Actuaries gave in its report
the percentage of payroll which if paid by the Government would meet
its share of the cost of benefits on account of the service being rendered
by employees then in active service and the percentage of payroll
which would if paid over a long period of years gradually liquidate the
deficiency which had arisen on account of the crediting of service
rendered prior to the establishment of the fund and deficits in past
appropriations. For several years beginning with the fiscal year 1929
appropriations were made based on these estimates. Then appropria-
tions were made at amounts less than needed for this purpose so that
each year a deficit was added to the unfunded obligations of the
Government. While the Government increased its appropriation over
the years from 1935 until the present year, the amounts appropriated
failed to keep abreast with the increase in benefits and the increase in
coverage. For the fiscal year 1954 no appropriation has been made 401%
pending a study of the policies to be followed by the Government in
funding its obligations under the act.
41,1
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CIVIL SERVICE RETIREMENT AND DISABILITY FUND 31
Nevi
-Now;
Nor,
The argument has been made that reserves should not be built up
to meet the Government's obligations, that since any moneys set aside
are to be invested in the Government's own securities, the Govern-
ment is in effect borrowing from itself and in the end the outlay would
be the same whether the Government set aside a lesser amount now
and paid its interest or appropriated a greater amount later. In
support of this argument the hypothetical case of a government with-
out a debt was cited and it was stated that in order to have a reserve
fund such a government would need to go into debt in order to issue
the bonds in which to invest. This argument is novel and it would
seem to mean one of two things. It might mean that a government,
without a debt, would have the privilege of incurring any deferred
pension liabilities for the public to meet that it wishes to incur, be-
cause if it does not take such deferred liabilities into account in its
bookkeeping, it is in a good financial position. We would assume
that in such a case any system would have to be noncontributory
because there would be no way of investing reserves arising from em-
ployees' contributions. This theory has operated to the disadvan-
tage of taxpayers in many cases where it has been used, and to a loss
to employees in others. The other alternative would seem to be that
such a government should set aside funds to meet its obligations,
when it incurs them, but not invest them but hold them in cash.
Perhaps there is a third possibility, namely, that if no provision to
meet pension costs is made as the costs accrue future pensions may
be cut if future costs are too high. This argument may be sound in
a system like the Social Security System, where almost the entire pub-
lic is involved, but it hardly applies to a staff pension system where
employees are rendering definite service to the employer in return for
a definite promise of a stated pension. In the latter case the pension
is not like social insurance, but it is in the nature of deferred compen-
sation.
CONCLUSION
The Board of Actuaries has watched the development of the civil
service retirement and disability fund through its 32 years of opera-
tion. The Board has seen the system start with a coverage of ap-
proximately 330,000 civil service employees and increase to 5 times
that number. It has seen the covered payroll increase to 15 times
the payroll of 1921. It has seen the annual annuity roll increase from
$3,650,000 in 1921 to $226,800,000 in 1952. There are few organiza-
tions of which the Board has knowledge which carry as heavy an
obligation for annuitants. The Board has seen the accrued liability
of the Government increase from almost $250 millions in excess of the
funds in hand of slightly under $10 millions as of June 30, 1921, to
approximately $4,940 millions in excess of the funds in hand of over
$5,000 millions as of June 30, 1952.
One point has been noted in the history of funds operating on the
reserve basis which the Board believes should be considered in con-
nection with the civil service retirement and disability fund. When
a fund operates for a small part of the population or for the employees
of one organization there are always demands for increased benefits
Now' and for reduction in employees' contributions. If the system operates
on a reserve basis then whenever benefits are liberalized, immediate
increases in the budget of the employer result. This causes the
Nor'
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32 CIVIL SERVICE RETIREMENT AND DISABILITY FUND
#11111
employer to weigh the demands of the employees and to grant only
those demands which justify an increase in the expense of the organ-
ization. If the civil service retirement and disability fund is operated
on a reserve basis, liberalization would mean an increase in the future
budget in the year following the adoption of the more liberal benefits.
For example, if the system had not been put on a reserve basis be-
ginning with the appropriation made in the fiscal year 1929, the Con-
gress probably would have granted retirement after 30 years of
service regardless of age, because there was a strong demand for such
a change and the only resistance to it seemed to stem from the fact
that the increase in cost under the reserve basis was immediate.
There is no method known to the Board of Actuaries which puts a
better brake on unwarranted liberality of benefits than the reserve
system which requires the cost of liberalizing benefits to be paid
as it accrues.
While employees would seem to have less liberal treatment under
such a system, the fact is that for employees as a whole it is better to
have reasonable benefits that can be depended upon than to have
higher benefits paid to those retiring in the immediate future with
substantially reduced benefits to those retiring in the distant future
when more nearly the true cost of the program emerges.
According to the Board of Actuaries' estimate, appropriations ap-
proximately equal to members' contributions are needed from the
Government in order to build up the reserves for the annuities which
are being earned by present employees and take care of the deficit
which has developed because of benefits based on service rendered
prior to the establishment of the fund and insufficient appropriations
in the past. If no appropriations for the time being are made, pos-
sibly appropriations at double this rate will be required eventually to
meet the disbursements from the fund. It would seem an unsatisfac-
tory outlook for the younger employees to have to depend on future
taxpayers to make a much higher appropriation for their annuities
than present taxpayers are willing to make who have had the benefit
of their services. In the opinion of the Board, consideration should
be given to having the Government contribute on a reserve basis as
employees are doing or else contributions of both the employees and
the Government should be reduced to a nonreserve basis. For
example, if both employees and taxpayers need to pay approximately
6 percent of payroll to support the present benefits on a reserve basis,
both should pay at this rate. If, however, the Government would
decide to pay less than 6 percent at this time with the thought that
the children of present taxpayers, that is, future taxpayers, should
pay more than 6 percent, then the employees should likewise be per-
mitted to pay less than 6 percent. If the concept of contributions for
the social security benefits should be changed resulting in reduced
contributions, it is fair to suppose that the contributions of both
employees and employers would be reduced rather than to expect
that the employers' contributions would be discontinued and the
employees' contributions continued in full. It seems unreasonable
to expect employees to continue their full contributions under the
civil service retirement and disability fund and not have the Govern-
ment make any contributions.
From the viewpoint of both the employees and the taxpayers it is Amok
the hope of the Board of Actuaries that the fund may be maintained
in the future on a full reserve basis.
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Nisevi
SUMMARY OF TABULATIONS OF ANNUITANTS' DATA
The following tables give for men and women separately the number
of annuitants and their annuities as of June 30, 1952, distributed by
age as used as a basis for the valuation.
TABLE 6.-The number and regular monthly annuities of annuitants on the roll
classified by sex and age as of June SO, 1952-retired on account of age and voluntary
and involuntary separations
Age
Men
Women
Age
Men
Women
Num-
her
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
41
1
$27
73
5,531
$633, 579
972
$86, 621
42
1
15
74
4,970
347,661
848
75,040
43
75
4,808
464, 749
713
62, 608
44
2
87
76
4, 111
487,872
664
58,444
45
2
111
1
3116
77
3,455
866,387
567
48,200
46
15
685
1
67
'78
2,921
309, 716
491
41,977
47
15
909
5
369
79
2,373
254,268
383
34,077
48
19
934
7
580
80
2,163
224,284
354
30,344
49
23
1,607
9
804
81
1,898
181;o52
249
20,697
50
47
3,346
13
1,017
82
1,461
154, 959
240
20, 586
51
75
6,374
22
1,882
83
1, 173
123, 947
200
16, 208
52
102
11, 766
33
3,263
84
950
103, 279
171
14, 117
53
99
12,310
40
4,660
85
720
78, 787
132
10,221
54
129
16,502
35
4,410
86
520
55, 362
98
7, 774
55
211
23,314
73
8,174
87_ _ _ _ ___
396
41,211
73
5,847
66
615
68,790
171
10,604
88
302
32, 290
54
4,387
57
855
85, 626
221
25, 378
89
227
24,006
42
I 3, 158
58
1,080
08273
254
25,516
90
176
18,644
25
1,930
59
1,276
124,268
315
33, 274
91
116
11, 736
23
1, 951
60
1,770
172, 243
308
33, 389
92
81
8,097
9
776
61
2,477
278,547
397
46, 054
03
59
6,070
7
1582
62
3,827
367,382
546
66, 092
94
34
8, 587
7
577
63
4,658
420,580
901
84, 846
95
16
1,364
2
238
64
5,721
578, 481
1,132
97, 705
96
11
1,096
3
274
65
5,744
588,466
1,067
88,307
97
7
579
3
233
66
6, 188
638, 203
1, 108
103, 170
98
3
212
67
5,608
600,404
1, 145
08, 539
99
2
183
68
5,018
639,842
1,137
07,617
100
69
5, 624
650,683
1,096
95, 795
101
3
106
70
6, 213
726, 041
1,091
100,350
108,293
11,787,917
10,760
1, 779, 902
71
6,518
816,131
1,116
107, 836
Total__
72
-6, 166
726, 239
1,034
94,070
TABLE 7.-The number and voluntary monthly annuities of annuitants on the roll,
classified by sex and age as of June 30, 1962-retired on account of age and
voluntary and involuntary separations
Age
Men
Women
Age
Men
Women
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
-
49
1
$18
71
125
$3,221
38
$644
50
1
$53
1
1
72
110
2,334
29
446
51
1
29
73
89
2,462
29
410
62
1
79
.
74
65
1,606
21
312
53
2
46
75
50
1, 426
15
186
54
5
156
1
2
76
51
1,087
16
203
55
5
90
1
13
77
39
1, 111
12
104
56
12
232
7
115
78
24
629
9
97
57
17
468
8
149
79
28
692
6
76
68
19
520
12
227
80
10
247
5
120
59
31
674
14
286
81
12
410
6
42
60
25
680
9
96
82
10
433
1
25
61
38
947
14
313
83
3
155
62
46
773
24
343
84
1
8
63
97
2, 216
37
492
85
4
266
64
92
1,827
48
775
86
1
18
65
124
3,352
27
424
87
66
135
2,915
46
669
88
67
121
2,672
47
601
89
68
132
3,075
48
828
90
2
105
69
115
2,005
40
605
1,747
41,937
604
9, 199
70
108
2,282
28
423
Total _
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Approvegfor RatefiN2911/M2341A-MANA3pieltI00400010002-3
TABLE 8.-The number and regular monthly annuities of annuitants on the roll,
classified by sex and age as of June 30, 1952-retired on account of disability
Age
Men
Women
Age
Men
Women
Num-
bet
Monthly
annuities
Num-
bar
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
bet
Monthly
annuities
24
1
$15
63
1.4 0 GO GP 1-1 0 0 IP 00 0 0 .14 1-4 ?G+ 1.1 CO 00 0 I-- PI 00 PI 0 0 PI 0 00
GC go .0. r-1 00 0 GP .0 0 GO 0 0 CO GO CO 0 el. ri 0 0 VG V PI 1-1
0 0 CI 00 0 GO 0 .2 0 00 el 1.. 1-1
? ?
$142, 978
457
$36, 713
25
a
106
3
$77
64
134,712
389
29, 497
28
4
88
4
102
65
105,423
341
26,090
27
11
281
5
106
66
91,371
342
25,512
28
10
288
8
131
67
77,338
333
24,831
29
38
1,002
9
262
68
67,468
272
20,356
30
44
1, 176
16
400
69
55, 135
230
16,773
31
38
1,052
16
440
70
55,538
234
17,349
32
47
1, 430
13
383
71
47, 255
202
14,859
33
64
1,900
18
516
72
48.641
208
14,471
34
76
2,672
21
601
73
47, 503
200
15,420
35
92
3,048
25
920
74
44,481
162
12,326
36
99
3,329
25
730
75
40,003
138
10, 731
37
124
4,783
38
1,356
76
34,773
143
11, 109
38
147
5,729
40
1,456
77
28,406
118
9,431
39
145
3,347
57
2,013
78
22,232
94
7,497
40
170
8,888
49
2,078
79
18,370
101
7,937
41
181
7,730
as
2,222
80
17,446
69
5,381
42
230
11,535
58
2, 646
81
13, 175
63
5,497
43
234
11,817
80
3, 689
82
10,336
as
4, 733
44
262
14,384
103
4, 700
83
6,348
26
2, 429
45
316
18,488
104
5, 591
84
4,396
22
2,006
46
300
18, 281
121
6,056
85
3,978
13
1, 185
47
379
23,074
124
6,845
86
4, 100
11
756
48
380
28,152
175
10,061
87
2,025
9
860
49
414
29,264
172
10,084
88
1, 749
50
528
38,572
242
15, 033
89
898
3
289
61
572
42,696
242
16,335
90
387
1
80
62
859
68,307
347
24, 166
91
644
5
388
53
937
75,611
392
30,964
92
104
1
125
64
1,208
98, 483
433
32,930
93
50
65
1,486
120,098
401
32,299
84
2
97
56
1,922
159, 070
492
40,063
95
46
1
62
57
2,097
176,006
498
40,143
96
102
1
88
58
2, 181
187, 910
480
40,062
98
1
71
69
2, 190
196, 529
474
38,465
100
24
80
2,270
198, 228
542
42,416
37,230
3, 018, 735
11,057
811,452
51
1,972
174, 108
484
36,780
Total_
62
1,875
157, 789
433
33,182
TABLE 9.-The number and voluntary monthly annuities of annuitants on the roll,
classified by sex and age as of June 30, 1952-retired on account of disability
Age
Men
Women
Age
Men
Women
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
34
1
E0 W.. GI.. ts0 IO .69
f?L A Og C tst A kA ka N
81
29
$399
6
$14
37
8
62
17
255
4
32
38
1
es
26
301
12
88
39
1
$1
64
15
137
5
43
40
1
65
13
134
6
62
42
3
66
9
38
6
60
44
4
67
9
71
6
49
45
2
1
1
68
6
92
2
59
46
3
1
69
6
39
3
11
47
7
70
7
161
3
56
48
5
2
3
71
4
76
6
92
49
2
1
8
72
2
12
4
30
50
3
73
2
38
2
10
61
2
3
2
74
3
37
3
40
52
5
1
3
75
5
47
2
6
53
9
4
41
76
3
152
64
8
5
30
77
3
42
55
7
3
23
78
3
70
56
14
7
39
79
1
5
1
10
57
22
7
71
82
1
6
58
14
8
131
322
4,352
137'
1,285
69
17
6
79
Total_
60
27
15
187
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approvegfor RatefiN2911/M2341A-MANA3pieltI00400010002-3
TABLE 8.-The number and regular monthly annuities of annuitants on the roll,
classified by sex and age as of June 30, 1952-retired on account of disability
Age
Men
Women
Age
Men
Women
Num-
bet
Monthly
annuities
Num-
bar
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
bet
Monthly
annuities
24
1
$15
63
1.4 0 GO GP 1-1 0 0 IP 00 0 0 .14 1-4 ?G+ 1.1 CO 00 0 I-- PI 00 PI 0 0 PI 0 00
GC go .0. r-1 00 0 GP .0 0 GO 0 0 CO GO CO 0 el. ri 0 0 VG V PI 1-1
0 0 CI 00 0 GO 0 .2 0 00 el 1.. 1-1
? ?
$142, 978
457
$36, 713
25
a
106
3
$77
64
134,712
389
29, 497
28
4
88
4
102
65
105,423
341
26,090
27
11
281
5
106
66
91,371
342
25,512
28
10
288
8
131
67
77,338
333
24,831
29
38
1,002
9
262
68
67,468
272
20,356
30
44
1, 176
16
400
69
55, 135
230
16,773
31
38
1,052
16
440
70
55,538
234
17,349
32
47
1, 430
13
383
71
47, 255
202
14,859
33
64
1,900
18
516
72
48.641
208
14,471
34
76
2,672
21
601
73
47, 503
200
15,420
35
92
3,048
25
920
74
44,481
162
12,326
36
99
3,329
25
730
75
40,003
138
10, 731
37
124
4,783
38
1,356
76
34,773
143
11, 109
38
147
5,729
40
1,456
77
28,406
118
9,431
39
145
3,347
57
2,013
78
22,232
94
7,497
40
170
8,888
49
2,078
79
18,370
101
7,937
41
181
7,730
as
2,222
80
17,446
69
5,381
42
230
11,535
58
2, 646
81
13, 175
63
5,497
43
234
11,817
80
3, 689
82
10,336
as
4, 733
44
262
14,384
103
4, 700
83
6,348
26
2, 429
45
316
18,488
104
5, 591
84
4,396
22
2,006
46
300
18, 281
121
6,056
85
3,978
13
1, 185
47
379
23,074
124
6,845
86
4, 100
11
756
48
380
28,152
175
10,061
87
2,025
9
860
49
414
29,264
172
10,084
88
1, 749
50
528
38,572
242
15, 033
89
898
3
289
61
572
42,696
242
16,335
90
387
1
80
62
859
68,307
347
24, 166
91
644
5
388
53
937
75,611
392
30,964
92
104
1
125
64
1,208
98, 483
433
32,930
93
50
65
1,486
120,098
401
32,299
84
2
97
56
1,922
159, 070
492
40,063
95
46
1
62
57
2,097
176,006
498
40,143
96
102
1
88
58
2, 181
187, 910
480
40,062
98
1
71
69
2, 190
196, 529
474
38,465
100
24
80
2,270
198, 228
542
42,416
37,230
3, 018, 735
11,057
811,452
51
1,972
174, 108
484
36,780
Total_
62
1,875
157, 789
433
33,182
TABLE 9.-The number and voluntary monthly annuities of annuitants on the roll,
classified by sex and age as of June 30, 1952-retired on account of disability
Age
Men
Women
Age
Men
Women
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
Num-
bet
Monthly
annuities
34
1
E0 W.. GI.. ts0 IO .69
f?L A Og C tst A kA ka N
81
29
$399
6
$14
37
8
62
17
255
4
32
38
1
es
26
301
12
88
39
1
$1
64
15
137
5
43
40
1
65
13
134
6
62
42
3
66
9
38
6
60
44
4
67
9
71
6
49
45
2
1
1
68
6
92
2
59
46
3
1
69
6
39
3
11
47
7
70
7
161
3
56
48
5
2
3
71
4
76
6
92
49
2
1
8
72
2
12
4
30
50
3
73
2
38
2
10
61
2
3
2
74
3
37
3
40
52
5
1
3
75
5
47
2
6
53
9
4
41
76
3
152
64
8
5
30
77
3
42
55
7
3
23
78
3
70
56
14
7
39
79
1
5
1
10
57
22
7
71
82
1
6
58
14
8
131
322
4,352
137'
1,285
69
17
6
79
Total_
60
27
15
187
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved ForRepAsnI0g1/2E3T/ISILFTATIDDIfs7A1,03721,1600400010002-3
TABLE 1 1 .- The number and monthly annuities of survivor annuitants on the roll,
classified by age as of June 30, 1952-survivors of deceased annuitants'.
CHILDREN
Age
Number
Monthly
annuities
Age
Number
Monthly
annuities
1
$74
20
4
$106
2
161
21
2
31
3
243
22
1
8
4
289
24
2
60
6
540
26
2
44
6
791
26
5
115
7
806
27
1
30
8
802
29
1
30
9
1,007
30
2
56
10
1,111
31
4
110
11
1,121
32
1
30
12
1,102
34
3
89
13
1,011
36
1
30
14
1,713
38__
3
67
15
1,937
39
3
83
16
1,940
42
1
7
17
2,428
48
1
40
18
1,049
1,062
19,071
19
10
Total
WIDOWS UNDER SEC. 12(c) (2)
26
3
'
2=8VV41.tttt
?
0
g4
NWWN.NNN.
$1,077
28
4
837
20
2
1,320
30
1
1,255
31
2
742
32
6
1,225
33
4
1,543
34
13
1,618
35
10
1,074
36
17
328
37
10
500
38
14
127
39
16
405
16,375
40
23
41
17
WIDOWS OTHER THAN UNDER SEC. 12(c) (2)
23
1
......... .1111111 .......
..... 111111111111111111111111 ?
111.111 1
? ........ .........
11111111 111111111111111111111111
111111111 1111111.111.11111111/111
11.111111 1.1111 ..... 1?pt1111111.
VSVciAgaiggPngiVgl:ngREOTo2.382F,A-DOS%85Pagg.e.
e.D....soone.egoo..t.....m.d.,..o.o.Nmoom,=.mr-Ncoctoon.cocco
626
$28,295
26
1
684
32,055
27
1
619
29,061
30
4
604
33,111
31
2
683
31,699
32
5
812
37,283
33
a
679
30,87(
34
4
678
30,611
36_
9
606
27,024
36_.
16
669
28,009
37
10
592
26,702
38
24
670
24,062
39
25
630
22,979
40
32
504
21,651
41
34
418
17,109
42
44
371
15,434
43
55
301
13,448
44
68
286
11,657
45
68
206
8,920
46
65
169
6,846
47
92
122
4,747
48
95
105
4,262
49
139
67
2,770
50
148
49
1,964
51
210
41
1,545
62
307
23
876
63
200
13
646
64
317
10
431
56
348
2
100
56
382
4
147
37
432
3
91
58
425
2
45
59
481
2
70
60
' 515
16,958
728,606
61
518
62
647
1 Includes voluntary annuities continued to survivors.
0141
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3
Approved For Release 2001/03/02 : CIA-RDP7E43721A000400010002-3
CIVIL SERVICE RETIREMENT AND DISABILITY FUND 37
-Amer 'TABLE 11.?The number and monthly annuities of survivor annuitants on the roll
classified by age as of June 30, 1952?survivors of deceased annuitants Con.
ALL OTHERS
Age
Men
Women
Age
Mon
Women
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
Num-
ber
Monthly
annuities
9
.W.0W.MN =0 0.000 CON00,4, -.1
,
.00=0MODWODWW0MGCM,,,.-4-,3000000=
OWN.000.400..PWL..000-4001.P.W0.0=0,0....W
,9
0
?
8282
2
$24
20
1
$43
298
1
97
23
1
2
120
1
27
28
1
11
435
1
27
29
225
32
263
1
66
34
239
3
291
36
1
11
202
3
270
37
1
32
194
1
96
38
1
8
508
I
32
39
1
34
599
40
2
27
228
41
3
42
479
1
23
42
1
46
302
43
a
51
347
44
3
58
212
1
32
45
2
150
347
46
3
65
145
47
1
42
245
48
3
53
115
49
3
38
170
50
1
37
238
51
10
181
28
1
13
52
3
59
73
53
5
154
50
54
4
69
42
55
4
98
44
56
5
176
73
57
14
365
26
58
12
284
23
59
15
494
51
60
13
320
3
61
5
152
10,056
58
2, 164
62
10
308
1 Includes voluntary annuities continued to survivors.
Approved For Release 2001/03/02 : CIA-RDP78-03721A000400010002-3