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Committee Detail

Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameDepartment of Defense Retirement Board of ActuariesAgency NameDepartment of Defense
Fiscal Year2008Committee Number419
Original Establishment Date10/1/1983Committee StatusTerminated
Actual Termination Date3/14/2008Committee URL 
New Committee This FYNoPresidential Appointments*Yes
Terminated This FYYesMax Number of Members*3
Current Charter Date11/17/2007Designated Fed Officer Position Title*Designated Federal Officer
Date Of Renewal Charter11/17/2009Designated Federal Officer PrefixMs.
Projected Termination Date3/14/2008Designated Federal Officer First Name*Inger
Exempt From Renewal*NoDesignated Federal Officer Middle NameM
Specific Termination AuthoritySection 906 of Public Law 110-181Designated Federal Officer Last Name*Pettygrove
Establishment Authority*Statutory (Congress Created)Designated Federal Officer Suffix
Specific Establishment Authority*10 U.S.C. 1464Designated Federal Officer Phone*(703) 696-7413
Effective Date Of Authority*10/19/1984Designated Federal Officer Fax*(703) 696-4110
Committee Type*ContinuingDesignated Federal Officer Email*pettygim@osd.pentagon.mil
Presidential*Yes
Committee Function*Scientific Technical Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Terminate
Legislation to Terminate RequiredYes
Legislation StatusEnacted
How does cmte accomplish its purpose?*The DoD Retirement Board of Actuaries determines the normal cost percentages that DoD must contribute for its full-time and part-time military members. This information is communicated from the Board in a letter to the USD(Comptroller). The retirement accrual runs close to 5% of the DoD budget. The Board also specifies the amortization contribution to the Military Retirement Fund from the General Treasury to be made each October 1. The Board also determines the full-time and part-time normal cost percentages contributed to the Fund by the General Treasury to pay for the Concurrent Receipt benefits contained in NDAA 2004. The Board sends a letter to the SecDef, who in turn requests payment from Treasury. The Retirement Board also determines contributions to the Voluntary Separation Incentive Fund. This information is also communicated by the Board in a letter to the SecDef.
How is membership balanced?*All three Board members are Fellows of the Society of Actuaries. Membership in the Society of Actuaries is a requirement in Public Law 98-94, which established the Board in 1984. The three members are experts in the technical aspects of pension plans and other fringe benefits. There is no particular point of view represented other than sound funding of pension benefits.
How frequent & relevant are cmte mtgs?*The Retirement Board holds one open meeting annually. These meetings are necessary to promulgate the unfunded liability payments and normal cost percentages to be used in calculating the accrual cost contributions into the Military Retirement Fund. At these meetings, the Board also determines the annual contribution to the Voluntary Separation Incentive Fund. Issues affecting military retiree and survivor benefits are also discussed.
Why advice can't be obtained elsewhere?*Public Law 98-94 established a three-member DoD Retirement Board of Actuaries. The Board members generally come from private industry, where they earn extremely high salaries for their level of expertise. The Board members are paid at the hourly rate of a GS-15, Step 10, which is far below what we would have to pay consultants for the same advice.
Why close or partially close meetings?All meetings of the Board are open.
Recommendation RemarksSection 906 of Public Law 110-181 terminates the committee and merges its functions into a new advisory committee. During this fiscal year the committee held no meetings, and did not provide any advice or recommendations to the government's decisionmaker.
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*Yes
Outcome Trust In GovernmentYesAction Reallocate ResourcesYes
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryNoAction OtherNo
Outcome Increased Customer SatisfactionYesAction CommentNA
Outcome Implement Laws/Reg RequirementsYesGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentNANumber Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentThe Board provides a valuable and necessary service to the Military Retirement Fund at a fraction of what these services would cost in the private sector.Grants Review CommentNA
Number Of Recommendations*2Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentThe Board recommended in its most recent report to the President and Congress that DoD be required to pay for all retirement-related benefit increases rather than turning that responsibility over to Treasury. They also recommended that Treasury's participation in the gain/loss amortization be phased out in future.Access Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentNAAccess GSA FACA WebsiteNo
% of Recs Partially Implemented*0.00%Access PublicationsNo
% of Recs Partially Implemented CommentNAAccess OtherYes
Agency Feedback*NoAccess CommentThe DoD Office of the Actuary prepares an annual valuation of the Military Retirement System using methods and assumptions approved by the Board. These reports can be viewed at the Office of the Actuary's web site. The Office of the Actuary can also provide copies of the Board's Quadrennial Reports to the President and Congress.
Agency Feedback CommentNANarrative Description*The DoD Retirement Board of Actuaries is tasked with advising the Secretary of Defense on all actuarial matters necessary to make determinations on the Military Retirement Fund in order to finance liabilities of the Fund on an actuarially sound basis. The mission of the Board is to assist and advise the President, the Secretary of Defense, and the Congress on actuarial matters associated with the Fund.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members*$0.00Est Payments to Non-Fed Members Next FY*$0.00
Payments to Federal Members*$6,000.00Est. Payments to Fed Members Next FY*$0.00
Payments to Federal Staff*$60,000.00Estimated Payments to Federal Staff*$0.00
Payments to Consultants*$0.00Est. Payments to Consultants Next FY*$0.00
Travel Reimb. For Non-Federal Members*$0.00Est Travel Reimb Non-Fed Members nextFY*$0.00
Travel Reimb. For Federal Members*$3,500.00Est Travel Reimb For Fed Members*$0.00
Travel Reimb. For Federal Staff*$0.00Est. Travel Reimb to Fed Staff Next FY*$0.00
Travel Reimb. For Consultants*$0.00Est Travel Reimb to Consultants Next FY*$0.00
Other Costs$0.00Est. Other Costs Next FY*$0.00
Total Costs$69,500.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)*1.00Est. Fed Staff Support Next FY*0.00
Hide Section - Custom Links

Custom Links

     Committee Level Reports               
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

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Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-011678Department of Defense Retirement Board of Actuaries2007
 COM-013057Department of Defense Retirement Board of Actuaries2006
 COM-013588Department of Defense Retirement Board of Actuaries2005
 COM-014996Department of Defense Retirement Board of Actuaries2004
 COM-015453Department of Defense Retirement Board of Actuaries2003
 COM-016934Department of Defense Retirement Board of Actuaries2002
 COM-017391Department of Defense Retirement Board of Actuaries2001
 COM-018976Department of Defense Retirement Board of Actuaries2000
 COM-019309Department of Defense Retirement Board of Actuaries1999
 COM-020922Department of Defense Retirement Board of Actuaries1998
 COM-021259Department of Defense Retirement Board of Actuaries1997