D.C. Pensions: Plans Consuming Growing Share of District Budget
(Testimony, 06/14/94, GAO/T-HEHS-94-192).

The District of Columbia's overall financial status is being affected by
the increasing demand on city revenues from its underfunded pension
plans for police and fire fighters, teachers, and judges. In 1991 the
District's contribution to these plans was about eight percent of
revenues, and unless remedial action is taken, the contribution could
rise to about 15 percent of revenues by 2005. Pension costs are now
running more than 50 percent of payroll and will grow to 70 percent
after 2004. This testimony provides a brief historical overview of the
unfunded liability in the District's pension plans; outlines the plans'
current funding provisions; and discusses the effects of H.R. 3728, the
District of Columbia Pension Liability Funding Reform Act of 1994, which
seeks to eliminate the District's financial liability for these plans,
as well as the responsibilities of the federal government, the District,
and the plans' participants.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-HEHS-94-192
     TITLE:  D.C. Pensions: Plans Consuming Growing Share of District 
             Budget
      DATE:  06/14/94
   SUBJECT:  Retirement pensions
             Employee retirement plans
             Government retirement benefits
             Funds management
             Federal/state relations
             Civil service pensions
             Cost of living
             Proposed legislation
             Amortization
             Payments
IDENTIFIER:  District of Columbia Pension Liability Funding Reform Act 
             of 1994
             Civil Service Retirement System
             Federal Employees Retirement System
             Old Age Survivors and Disability Insurance Program
             DC Police Officers and Fire Fighters Retirement Fund
             DC Judges Retirement Fund
             DC Teachers Retirement Fund
             OASDI
             
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