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D.C. Pension Benefits: Comparison With Selected State and Local Government Pension Plans

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Report Type Reports and Testimonies
Report Date Nov. 4, 1993
Report No. HRD-94-18
Subject
Summary:

After surveying 40 public employee retirement plans, GAO concludes that the District of Columbia's retirement plans for police officers, firefighters, teachers, and judges generally provide benefits that are comparable to those offered by other public retirement plans. District police officers and firefighters receive pensions that are slightly higher (as a percent of final salary) than the average provided by similar plans, while District teachers' pensions are slightly lower. District judges' pensions are higher than the average of other plans. Any comparison of public pension plan benefits is complicated, however, because survivor benefits, disability benefits, and cost-of-living adjustment provisions vary among plans. The District's cost-of-living adjustment provision--retirement annuities are increased twice yearly by the full amount of the rise in the consumer price index--is more generous than provisions of other plans.

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