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094339 1 (1979-09-23)

handle is hein.gao/gaobacuie0001 and id is 1 raw text is: 


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                                                        094339

                REMARKS OF ELMER B. STAATS

         COMPTROLLER GENERAL OF THE UNITED  STATES

                        , AT THE

     ASPEN INSTITUTE FOR HUMANISTIC STUDIES  SYMPOSIUM

            THE QUIET CRISIS OF PUBLIC  PENSIONS


                     SEPTEMBER  23, 1979


                  (PUBLIC  PENSION ISSUES


     I am pleased  to be here this evening to discuss some

of the major  issues which face public pension plans today.

While most pension  studies by the General Accounting Office

have focused on  issues relating to retirement systems for

Federal personnel,  I believe many of the conclusions of our

studies are applicable  to State and local plans as well.

     Since 1974,  GAO has issued a series of reports cover-

ing a number of  issues concerning basic policies, financ.ing,

administration,  and benefits of various Federal retirement

systems.  Next  to pay, these systems are the most signifi-

cant and  costly means used to compensate Federal personnel,

and  the liabilities associated with them represent a size-

able  long-term financial commitment of the Government.  In

essence,  our work has shown that Federal retirement programs

have  not received the management attention they deserve in

view of  their importance and tremendous costs.  The systems

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