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CIVIL SERVICE RETIREMENT AND

DISABILITY FUND

LETTER

FROM

THE ADMINISTRATOR OF VETERANS' AFFAIRS

TRANSMITTING

PURSUANT TO LAW THE TENTH ANNUAL REPORT OF THE BOARD OF ACTUARIES OF THE CIVIL

SERVICE RETIREMENT FUND

[graphic]

FEBRUARY 17 (calendar day, MARCH 3), 1931.-Referred to the

Committee on Civil Service and ordered to be printed

UNITED STATES

GOVERNMENT PRINTING OFFICE

WASHINGTON : 1981

LETTER OF TRANSMITTAL

VETERANS' ADMINISTRATION,

Washington, March 2, 1931. The PRESIDENT OF THE SENATE,

Washington, D. C. SIR: Transmitted herewith is the Tenth Annual Report of the Board of Actuaries of the Civil Service Retirement and Disability Fund under the provisions of section 16 of the act of May 29, 1930 (Public, No. 279, 71st Cong.).

In view of the fact that the Bureau of Pensions with all of its activities was consolidated in the Veterans' Administration under the act of July 3, 1930, the report is being submitted by me instead of by the Secretary of the Interior as heretofore. Very truly yours,

FRANK T. HINES, Administrator.

III

CIVIL SERVICE RETIREMENT AND DISABILITY FUND

VETERANS' ADMINISTRATION,

BUREAU OF PENSIONS,

Washington, March 2, 1931. To: Administrator. From: Acting Commissioner of Pensions. Subject: Tenth Annual Report of the Board of Actuaries.

Section 16 of the act of May 29, 1930 (Public No. 279, 71st Cong.) which provides for retirement of employees in the classified civil service, and for other purposes, makes provision for the appointment of a Board of Actuaries "whose duty it shall be to prepare an annual report upon the actual operations of this act with authority to recommend to the Commissioner of Pensions such changes as in their judgment may be deemed necessary to protect the public interest and maintain the system upon a sound financial basis."

Section 17 of the act makes provision for the transmission of the reports of the Board of Actuaries to Congress. In harmony with the provisions of the act aforesaid, I am handing you herewith for transmission to Congress the Tenth Annual Report of the Board of Actuaries.

E. W. MORGAN,

Acting Commissioner.

FEBRUARY 28, 1931. Hon. E. W. MORGAN, Acting Commissioner of Pensions, Veterans' Administration,

Bureau of Pensions, Washington, D. C. DEAR SIR: The board of actuaries, appointed under section 16 of the act of May 29, 1930, for the retirement of employees in the classified civil service of the United States, has the honor to submit herewith its tenth annual report on the civil service retirement and disability fund.

The report contains a discussion of the provisions of the fund as provided under the act as recently amended. It also reports upon the progress which is being made in the detailed valuation required by law to be prepared as of June 30, 1930. Certain tables are submitted which have been recommended by the Board of Actuaries for use in connection with the operation of the fund.

The Board of Actuaries wishes to take this opportunity to record the substantial loss which it has suffered in the death of Joseph S. McCoy, Government actuary. As ex-officio member of the board from the establishment of the fund in 1920, he never failed in his consistent efforts to do everything within his power to improve the fund, and to recommend changes in the law and in the administration thereof when

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