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News Release

FOR IMMEDIATE RELEASE
Thursday, July 20, 2006
Contact: Michael Orenstein
Tel: 202-606-2402

OPM Receives Funding, Vote of Confidence from Senate Committee for Retirement System Modernization Initiative

Washington, D.C.  --  The Senate Appropriations Committee has approved continued funding for the U.S. Office of Personnel Management’s initiative to replace an aged federal retirement  processing system. This funding level expresses lawmakers’ confidence in OPM to build an agile, automated system that will improve the accuracy of pension benefits calculations and speed the delivery of full payments to federal retirees.

The Senate committee’s appropriation level will provide OPM with resources to continue the acquisition of hardware and the development of software for the Retirement System Modernization (RSM) initiative. When fully operational, the RSM will improve the accuracy of retirement benefits computations.

“This represents significant progress,” said OPM Director Linda M. Springer. “We urge the House to follow the leadership of Senators Thad Cochran, Robert Byrd, Christopher Bond, and Patty Murray so that current and future federal employees will enjoy a smooth transition from their jobs to their golden years. After years of serving America as proud civil servants, it is only right that we improve our service to them.”

At the heart of the current RSM is a Defined Benefits Technology Solution (DBTS) that will provide a paperless, “cradle to grave” benefits service delivery model that can be accessed by employees, retirees and authorized agency officials. Future RSM components are Electronic Record Keeping and Business Transformation.

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Our mission is to Recruit, Retain and Honor a World-Class Workforce to Serve the American People. OPM supports U.S. agencies with personnel services and policy leadership including staffing tools, guidance on labor-management relations and programs to improve work force performance.


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