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B-135003 1 (1979-06-27)

handle is hein.gao/gaobabjnz0001 and id is 1 raw text is: --Pc COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. D.C. 20548 B-135003 FPC-96-1-6 JUN 2 7 197S The Honorable Abraham Ribicoff Chairman, Committee on Governmental Affairs United States Senate Dear Mr. Chairman: Your letter of March 7, 1979, requested4our views on-$. 99, a-1'T; -~ ., ~ - -z, to eliminate n inequity in computing annuities of Federal law enforcement officers or firefightersg Federal employees under the civil service retirement system are generally eligible for voluntary retirement at age 55 after 30 years of service, at age 60 after 20 years, or at age 62 after 5 years. Annuities are based on av.erage an,'ual pay earned during the 3 consecutive highest paid years (high-3) and length of service. Annuities are computed at the rate of 1.5 percent of high-3 for each of the first 5 years of service, 1.75 percent for each of the next 5 years, and 2 percent for each year of service beyond 10 years. A more liberal retirement plan applies to Federal employees whose primary duties are (1) investigating, apprehending, or de- taining persons suspected or convicted of Federal crimes or (2) controlling and extinguishing fires or maintaining and using firefighting apparatus and equipment. These employees are per- mitted to voluntarily retire at age 50 after 20 years of such service. Their annuities are computed at the rate of 2.5 percent of high-3 for each of the first 20 years of service and 2 percent for each year of service thereafter. An employee must complete at least 20 years of qualifying service to receive these special retirement benefits. The legislative objectives in providing earlier retirement to law enforcement and firefighter personnel was to improve the quality of these services by helping to maintain a young, vigorous workforce. The more generous annuity computation formula was designed to make it economically feasible to retire after 20 years of service. The preferential retirement benefits are to induce retirement after 20 years, not to reward these employees for performing hazardous or demanding services. /-mni

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