DOD Military Retirement Trust Fund Financial Statements for FY 1992

Abstract

The Chief Financial Officers Act requires an annual audit of funds such as the DoD military Retirement Trust Fund (the Fund). The Fund was established in 1984 by Public Law (P.L.) 98-94 to provide retirement benefits for military personnel and their survivors. For FY 1992, the Fund paid $24.6 billion to 1.5 million retirees and 181,000 survivors. As of September 30, 1992, the Fund's assets were $106.1 billion and its unfunded liability was $411.9 billion. The Fund received revenue from three sources during FY 1992: contributions from the Services ($16.3 billion), payments from the U.S. Treasury for the unfunded liability ($11.2 billion), and interest earned on U.S. Treasury securities ($9.4 billion). As of May 1993, a fund manager had not been named. The Assistant Secretary of Defense (Force Management and Personnel) has been recommended to the Deputy Secretary of Defense for designation as the Fund Manager: however, no official appointments had been made.

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Document Details

Document Type
Technical Report
Publication Date
Jun 30, 1993
Accession Number
ADA376492

Entities

People

  • John M. Seeba
  • Linda F. Jones
  • Nancy L. Hendricks
  • Raymond D. Kidd
  • Virginia A. Bonds

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

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  • Human Systems

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  • Military Personnel
  • Money
  • Personnel Management

Readers

  • Defense Financial Management and Audit.
  • Military Mobilization and Reserve Forces Studies.