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PAD-78-24 1 (1978-04-17)

handle is hein.gao/gaobacjgo0001 and id is 1 raw text is:                           DOCUNI T iUI!|
 05896 -[1106069..
 laconsiStenAC1  in i etizement aget lasses and Zmplicationu,
 PAD-78-.24, April 17# 1978. 45 pp.
 Staff study by larry S. Havense Director  frogtam AnIlysis Div.

 losue Area: Program Rvalution Systews t2600); Persconel
     Hanaqammnt and Compensation (300)4             .
 Contact: Program Analysis Div.
 Bodget Function: lncoe Security: General Mostirmeaen td
     Dinability insurance (601).
 Owanization Concerned: D,9oztaent of Halth, Bducatton, and
     kilfare; Department of Defense; Eepartatat of Lat r Civil
     Service Cosmmsion.
 Congressional- Jlevianas-t Noue Comif£4ee an Post Otfttq and
     Civil Sevice; Senateommittee Cm Hoses Jesources.
 Authority: Reployee retirement Znaome Security act of 1974.

          Metirement is becoming an increasingly imnottaot issue
 primarily because of eaca&ating -oats end dmnograph c changes.
 The thre largat retirement Mystems uuder tho jurisdiction of
 the Fei ral Government are Social Security, tie Civil Service
 Retirement System# and Department of Defense 14ticed dilitary
 Personnl. These three programs sade benefit Faysents to 35.6
 million beneficiaries In 1976, nd the- -umber of peo1.i retiring
 is increasing. Findings/conclusion: lecause of the decllninq
 birthrate and deathrate# the population- of the United States is
 aqin. This tren, plus the declining rate of participatlon of
 persons 55 years of age or older in the labor force, has led to
 a decrease in the ratio of working to retired persons. Different
 age limits for retirement have been based on differeti. neads of
 the systems involved, The normal retirement age Lor social
 security benefits is 63, but individuals may retire earl-er with
 reduced benefits. Civil &evice retizement is based on age and
 service requirements. The average age of annultants dropFed by
 6.4 years between 1940 and 1975. Career military personnel may
 retire after 20 years of service with pensions based on years of
 service with no age requirement. Retirement plans are allowing
 people to Letire at younger ages, and basefito have been
 Liberalized. These factors will seriously affect the funding ot
 retirement prograes and financial requirements of the Federal
Government. Concern ha3 also been expressed about thr social,
psychologicalt and physical effects of retirement on
individuals. (HTV)

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