[Appendix, Budget of the United States Government, Fiscal Year 1999]
[Page 867-868]
[DOCID:1999_app_civ-1]
From the Budget of the U.S., FY 1999 Online via GPO Access
[wais.access.gpo.gov]
THE BUDGET FOR FISCAL YEAR 1999
[[Page 867]]
OTHER DEFENSE--CIVIL PROGRAMS
MILITARY RETIREMENT
Federal Funds
General and special funds:
Payment to Military Retirement Fund
Program and Financing (in millions of dollars)
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Identification code 97-0040-0-1-054 1997 actual 1998 est. 1999 est.
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Obligations by program activity:
10.00 Total obligations (object class
13.0)........................... 15,151 15,119 15,724
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Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 15,151 15,119 15,724
23.95 New obligations................... -15,151 -15,119 -15,724
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New budget authority (gross), detail:
60.05 Appropriation (indefinite)........ 15,151 15,119 15,724
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Change in unpaid obligations:
73.10 New obligations................... 15,151 15,119 15,724
73.20 Total outlays (gross)............. -15,151 -15,119 -15,724
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Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 15,151 15,119 15,724
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Net budget authority and outlays:
89.00 Budget authority.................. 15,151 15,119 15,724
90.00 Outlays........................... 15,151 15,119 15,724
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The 1999 payment to the military retirement fund includes funds for
the amortization of the unfunded liability for all retirement benefits
earned by military personnel for service prior to 1985. The amortization
schedule for the unfunded liability is determined by the Department of
Defense Retirement Board of Actuaries. For fiscal year 1997 and beyond,
the Board adjusted the amortization schedule to reflect a 50 year rather
than a 60 year stream of payments. Included in the unfunded liability
are the consolidated requirements of the military departments to cover
retired officers and enlisted personnel of the Army, Navy, Marine Corps,
and Air Force, retainer pay of enlisted personnel of the Fleet Reserve
of the Navy and Marine Corps, and survivors benefits.
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Trust Funds
Military Retirement Fund
Unavailable Collections (in millions of dollars)
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Identification code 97-8097-0-7-602 1997 actual 1998 est. 1999 est.
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Balance, start of year:
01.99 Balance, start of year............ 128,714 136,628 142,962
Receipts:
02.01 Employing agency contributions.... 11,102 10,543 10,563
02.02 General fund payment (unfunded
liability)...................... 15,151 15,119 15,724
02.03 Earnings on investments........... 11,920 12,121 12,328
--------- --------- ----------
02.99 Total receipts.................. 38,173 37,783 38,615
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04.00 Total: Balances and collections... 166,887 174,411 181,577
Appropriation:
05.01 Military retirement fund.......... -30,259 -31,449 -32,379
--------- --------- ----------
05.99 Subtotal appropriation............ -30,259 -31,449 -32,379
07.99 Total balance, end of year........ 136,628 142,962 149,198
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Program and Financing (in millions of dollars)
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Identification code 97-8097-0-7-602 1997 actual 1998 est. 1999 est.
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Obligations by program activity:
00.01 Nondisability..................... 25,925 26,945 27,742
00.02 Temporary disability.............. 80 83 86
00.03 Permanent disability.............. 1,392 1,446 1,489
00.04 Fleet Reserve..................... 1,255 1,304 1,343
00.05 Survivors' benefits............... 1,607 1,670 1,720
--------- --------- ----------
10.00 Total obligations (object class
42.0)......................... 30,259 31,449 32,379
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Budgetary resources available for obligation:
22.00 New budget authority (gross)...... 30,259 31,449 32,379
23.95 New obligations................... -30,259 -31,449 -32,379
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New budget authority (gross), detail:
60.27 Appropriation (trust fund,
indefinite)..................... 38,173 37,783 38,615
60.45 Portion precluded from obligation. -7,914 -6,334 -6,236
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63.00 Appropriation (total)........... 30,259 31,449 32,379
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 30,259 31,449 32,379
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Change in unpaid obligations:
72.41 Unpaid obligations, start of year:
Obligated balance: U.S.
Securities: Par value........... 2,536 2,606 2,669
73.10 New obligations................... 30,259 31,449 32,379
73.20 Total outlays (gross)............. -30,188 -31,386 -32,314
74.41 Unpaid obligations, end of year:
Obligated balance: U.S.
Securities: Par value........... 2,606 2,669 2,734
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Outlays (gross), detail:
86.97 Outlays from new permanent
authority....................... 30,188 31,386 32,314
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Net budget authority and outlays:
89.00 Budget authority.................. 30,259 31,449 32,379
90.00 Outlays........................... 30,188 31,386 32,314
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Public Law 98-94 provided for accrual funding of the military
retirement system and for the establishment of a Department of Defense
Military Retirement Fund in 1985. The fund has three sources of income.
The first is payments from the Military Personnel accounts, which cover
the liability for future benefits accruing to current service members.
The second is a payment from the general treasury to cover the accrued
unfunded liability of current members and current retirees. The third
source is income from the investment of fund balances from past and
current payments into the fund.
The status of the fund is as follows:
Status of Funds (in millions of dollars)
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Identification code 97-8097-0-7-602 1997 actual 1998 est. 1999 est.
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Unexpended balance, start of year:
0100 Treasury balance.................. 58 5
U.S. Securities:
0101 Par value....................... 116,991 126,237 131,933
0102 Unrealized discounts............ 14,201 12,992 13,698
--------- --------- ----------
0199 Total balance, start of year.... 131,250 139,234 145,631
Cash income during the year:
Intragovernmental transactions:
0240 Employing agency contributions,
DOD military.................. 11,098 10,539 10,559
0241 Employing agency contributions,
Corps of Engineers............ 4 4 4
0242 Earning on investments.......... 11,920 12,121 12,328
0243 Federal contributions........... 15,151 15,119 15,724
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0299 Total cash income............... 38,173 37,783 38,615
Cash outgo during year:
0500 Military retirement fund.......... -30,188 -31,386 -32,314
Unexpended balance, end of year:
0700 Uninvested balance................ 5
[[Page 868]]
U.S. Securities:
0701 Par value....................... 126,237 131,933 138,234
0702 Unrealized discounts............ 12,992 13,698 13,698
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0799 Total balance, end of year...... 139,234 145,631 151,932
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