US Postal Service 2013 Annual Report Download - page 37

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2013 Report on Form 10-K United States Postal Service 35
COMPONENTS OF NET CHANGE IN PLAN ASSETS
The following table prepared by OPM shows the components of the net change in plan assets for the CSRS and FERS
programs.
Analysis of Change in CSRS Pension Net Assets as calculated by OPM
(9/30/12 latest actual data available)
(Dollars in billions)
CSRS
2012
2011
Net Assets as of October 1
$
193.0
$
194.6
+ Contributions
0.3
0.4
- Benefit Disbursements
(11.4)
(10.9)
+ Investment Income
8.8
8.9
Net Assets as of September 30
$
190.7
$
193.0
Analysis of Change in FERS Pension Net Assets as calculated by OPM
(9/30/12 latest actual data available)
(Dollars in billions)
FERS
2012
2011
Net Assets as of October 1
$
86.6
$
80.8
+ Contributions
3.1
3.4
- Benefit Disbursements
(1.5)
(1.3)
+ Investment Income
3.5
3.7
Net Assets as of September 30
$
91.7
$
86.6
Actual
Actual
Actual
Actual
As noted previously, CSRDF is a single fund and does not maintain separate accounts for individual employer agencies.
The actual securities of the CSRDF are not allocated separately to CSRS or FERS, or to postal and non-postal
beneficiaries. The assets of the CSRDF are composed entirely of special-issue U.S. Treasury securities with maturities of
up to 15 years. The long-term securities bear interest rates ranging from 1.375% to 6.5%. The CSRDF currently does not
have short-term securities.
The assumed rates of return on the CSRS fund balance for 2012 and 2011 were 5.75%, and the actual rates of return
were 4.70% and 4.71%, respectively. For the FERS fund, the assumed rates of return for 2012 and 2011 were 5.75%,
while the actual rates of return were 4.00% for 2012 and 4.56% for 2011. The projected long-term rate of return on the
CSRS and FERS fund balances for 2013 is 5.25%.