DOD Military Retirement Health Benefits Liability for FY 1997.
Abstract
Introduction. The audit was performed in compliance with the Chief Financial Officers Act of 1990 (Public Law 101-576) and the Federal Financial Management Act of 1994 (Public Law 103-356). Public Law 103-356 requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year. Military retirement health benefits are post-retirement benefits that DoD provides to military retirees and other eligible beneficiaries through private sector health care providers and DoD military treatment facilities. The DoD-wide consolidated financial statements for FY 1997 reported total assets of $ 1.3 trillion, total liabilities of $948 .8 billion, and a total net position of $381.4 billion, The DoD military retirement health benefits, an un%nded liability estimated at $218 billion, were included in total liabilities. This report is the first in a series of reports addressing selected accounts of the DoD-wide consolidated financial statements for FY 1997 and beyond. Audit Objectives. The objective of the audit was to assess the reliability and completeness of the data used to calculate the actuarial valuation of retiree medical benefits for the Military. We also reviewed related management controls.
Document Details
- Document Type
- Technical Report
- Publication Date
- Oct 13, 1998
- Accession Number
- ADA367767
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense