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OCG-84-1 1 (1984-06-12)

handle is hein.gao/gaobabeqk0001 and id is 1 raw text is: vEwTRCThD - Not t jie reaed outsqe thie *al A-ecout Cftceo e) 0,t ti, 1- 'ba- ,of spejfc apptoyl by Ma of CoRELEASED /2 /= BY THE COMPTROLLER GENERAL Report To The Chairman, Committee On Post Office And Civil Service House Of Representatives OF THE UNITED STATES Comparison Of Retirement Benefits For W. R. Grace & Company And Civil Service Employees As requested by the committee, GAO compared the first year and lifetime benefits offered by W R. Grace & Company and the federal civil service retirement system (CSRS). In its analysis, GAO compared benefits that the two retirement programs would pay to four categories of Grace Company and federal employees, retiring with the same age, years of service, and salary characteristics. Grace employees receive retirement benefits from a savings plan established in 1976 as well as social security and a pension plan. On the other hand, civil serivce employees receive benefits from CSRS only This report shows that the Grace retirement program offers potentially greater benefits than the CSRS for most civil service employees while others could receive greater benefits from CSRS. However, these comparisons should not be the sole basis for reaching conclusions about the overall generosity of either CSRS or private sector programs. To do so would require benefit comparisons with a cross section of all private sector retirement programs and consideration of all plan provisions .,' IED $7,q V~AI~~ LI124574 z0 1 0 CCOU s, GAO/OCG-84-1 JUNE 12, 1984

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