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2015 Report on Form 10-K United States Postal Service 24
Components of Net Change in Plan Assets
The following information, provided by OPM, details the components of the net change in plan assets for CSRS and FERS:
(in billions) Actual* Actual
2014 2013
CSRS
Net assets as of October 1 $ 186.6 $ 190.7
+ Contributions 0.2 0.3
- Benefit disbursements (12.1)(11.8)
+ Investment income 7.4 7.4
CSRS net assets as of September 30 $ 182.1 $ 186.6
FERS
Net assets as of October 1 $ 96.5 $ 91.7
+ Contributions 3.1 3.1
- Benefit disbursements (2.1)(1.8)
+ Investment income 3.4 3.5
FERS net assets as of September 30 $ 100.9 $ 96.5
*9/30/2014 is the latest actual data available.
As described above, CSRDF is a single fund and does not maintain separate accounts for CSRS and FERS or for individual
U.S. government employers. The investment holdings of the CSRDF consist entirely of long-term special-issue U.S. Treasury
securities with maturities of up to 15 years. The long-term securities bear interest rates ranging from 1.38% to 5.63%.
The assumed rate of return on the CSRS fund balance was 5.25% for both 2015 and 2014, and the actual rates of return were
4.11% and 4.01%, respectively. For the FERS fund, the assumed rate of return was 5.25% for 2015 and 2014, while the actual
rates of return were 3.47% and 3.82%, respectively. The projected long-term rate of return for both the CSRS and FERS fund
balances for 2015 was 5.25%.
The following information, provided by OPM, details its estimates for CSRS and FERS contributions and benefit payments
for the next five years:
(in billions) CSRS FERS
Contributions Total Benefit
Payments Contributions Total Benefit
Payments
2016 $0.1 $12.5 $3.5 $2.5
2017 0.1 12.8 3.5 2.9
2018 0.1 13.1 3.4 3.2
2019 0.1 13.3 3.4 3.6
2020 0.1 13.4 3.3 4.1