Accession Number : ADA596522


Title :   Military Retirement Fund Audited Financial Report. Fiscal Year 2013


Corporate Author : OFFICE OF THE INSPECTOR GENERAL (DEPARTMENT OF DEFENSE) ALEXANDRIA VA


Full Text : https://apps.dtic.mil/dtic/tr/fulltext/u2/a596522.pdf


Report Date : 09 Dec 2013


Pagination or Media Count : 65


Abstract : The reporting entity is the Department of Defense (DoD) Military Retirement Fund (MRF, or Fund ). The Military Retirement System (MRS) provides benefits for military members retirement from active duty and the reserves, disability retirement benefits, and survivor benefits. The MRF accumulates funds to finance, on an actuarial basis, the liabilities of DoD under military retirement and survivor benefit programs. Within DoD, the operations of the MRS are jointly overseen by the: (1) Office of the Under Secretary of Defense (Comptroller) (OUSD(C)), (2) Defense Finance and Accounting Service (DFAS), and (3) Office of the Under Secretary of Defense for Personnel and Readiness (OUSD(P&R)). DFAS is responsible for the accounting, investing, payment of benefits, and reporting of the MRF. The DoD Office of the Actuary (OACT) within OUSD(P&R) calculates the actuarial liability of the MRF. The Office of Military Personnel Policy within OUSD(P&R) issues policy related to MRS benefits. While the MRF does not have a specified Chief Financial Officer (CFO), the OUSD(C) has oversight of the MRF's financial reporting processes.


Descriptors :   *RETIREMENT(PERSONNEL) , BENEFITS , FINANCE , MILITARY PERSONNEL


Subject Categories : Economics and Cost Analysis
      Personnel Management and Labor Relations


Distribution Statement : APPROVED FOR PUBLIC RELEASE