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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Federal Employees Retirement

This program provides federal employees with retirement benefits and retirement planning services. Because retirement is a key component of employee compensation, it supports federal agencies' recruitment and retention of quality employees. The program provides annuities or cash payments for retirement, disability or death.

Rating

What This Rating Means

PERFORMING
Adequate

This rating describes a program that needs to set more ambitious goals, achieve better results, improve accountability or strengthen its management practices.
  • The program delivers its benefits very accurately. However, the program lacks aggressive targets for long-term measures, has not achieved long-term goals, and does not hold program managers accountable for key results.
  • The Office of Personnel Management (OPM) conducts employee benefit surveys to measure the importance, value, and competitiveness of federal retirement benefits. OPM compares Federal retirement benefits with those being offered by competing employers, and measures employees' knowledge about their retirement planning. This provides information on how the program helps recruiting and retention.
  • OPM has been working to reduce annuity processing times to 30 days in 2007. Additionally, OPM's Retirement Systems Modernization effort will provide more cost-efficient and timely benefit payments and employee and retiree information services. This new system is planned to be available starting in February 2008, and will replace old paper-based technology with state-of-the-art modern technology.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Establishing ambitious targets for the long-term goals and demonstrating adequate progress in achieving these performance goals by 2008.
  • Holding program managers and partners accountable for cost, schedule and performance results and demonstrating that the program and its partners are achieving their annual performance goals by 2008.
  • Completing independent evaluation and program performance comparisons, and conducting independent evaluations on a regular basis.

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