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Retirement system consolidation studied
The General Accounting Office is examining merging 51 federal retirement plans into a unified system. If feasible, multi million dollar annual savings are possible. The study notes inconsistent benefits and large unfunded liabilities across top systems and cites 284 billion dollars in unfunded liabilities projected by 1978. Over 6 million federal employees and armed services members are involved. The effort aims to provide a guiding retirement policy for the government.
MENTIONED IN THIS ARTICLE
General Accounting Office
Subcommittee
GAO
Armed Services