Skip Main Navigation Skip To Navigation Content

Federal, State, and Local Governments
Government Finance and Employment Classification Manual

FUNCTION CODE:   X1* NAME:    Public Employee Retirement Systems
SECTOR:    General APPLIES TO:    Finance |X|    Employment | |
DEFINITION:    Distribution of cash benefits or withdrawals to eligible persons under government-administered employee retirement systems covering public employees.
EXAMPLES:   Benefits: Cash payments to, or on behalf of, participants for retirement benefits and annuities, death and disability benefits, life and disability insurance on behalf of retirees, pre-retirement death benefit premiums, benefits due on termination of employment, survivors benefits, and other benefits as allowed. Withdrawals: Cash benefits to employees, former employees, or their survivors as return of contributions made by employees and any interest on such amounts. Includes transfers of investment holdings and reimbursements for benefits paid when another pension fund assumes responsibility for paying retirement benefits. Other Payments: Exhibit-only code for administering retirement system or managing its assets (also report at Financial Administration, code 23); recorded losses on investments (also deduct from Interest on Investments, code X08); other costs or payments not representing benefits or withdrawals (except purchase of investments).
EXCLUSIONS:   Payments to own retirement system (interfund transfer); payments to retirement plans administered by another government, such as Federal Social Security and local payments to state-administered retirement systems; payments of premiums for annuity policies from private insurance carriers; contributions to pension plans administered by private companies or by public employee associations; "pay-as-you-go" pensions and other direct payments to retired employees from current appropriations (report preceding items as current operations expenditure of function involved); pensions paid out of Federal Military Retirement Fund (use code 06); purchase of investments, loans to members, unrealized, loss in market value of securities, and amortization of premiums on purchase of investments (all of which are nonexpenditures).
REFERENCES: - To be added later -
OTHER NOTES:   (1) These data are collected by a separate mail canvass survey of state and local government-administered public employee retirement systems. (2) For Federal Government includes Civil Service and Foreign Service Retirement and Disability Funds and Federal Employees' Retirement System (FERS). (3) Record state aid to local retirement systems which does not represent employer contributions at Other and Unallocable, code E89. Since the local systems treat this aid as an insurance trust revenue, recording the state payment as an intergovernmental expenditure would distort the intergovernmental flow for that state. (4) Report employment data for administering these systems at code 23.
  General Purpose Governments
EXPENDITURES, DIRECT: Federal StateD.C. Large City-County Other LocalSpecial District
X11 Benefits Y YY Y YY
X12 Withdrawals N YY Y YY
X14 Other Payments N YY Y YY
* Shows whether data are collected (Y) or not (N) for that type.