The civic record
Read. Follow. Verify.1961 Hearing on Civil Service Retirement Fund Interest Calculations
Record date · July 20, 2026
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What This Bill Does
This document is a transcript of a 1961 House Committee hearing regarding proposed changes to how the Civil Service Retirement and Disability Fund calculates interest on Treasury investments. The bills under discussion aimed to adjust the interest computation method and establish a for the fund.
The hearing addresses the financial solvency and interest-earning mechanisms of the federal pension fund for civil servants, impacting how the government manages retirement assets for federal employees.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Federal civil service employees
The financial management and interest-earning capacity of the retirement fund directly impacts the assets backing their pension benefits.
U.S. Treasury
The Treasury is responsible for issuing the special securities held by the fund and managing the interest payments.
Key Facts
- The hearing focused on three specific legislative proposals: H.R. 5989, H.R. 5974, and S. 739.
- The primary objective of the bills was to change the method of computing interest earnings on special Treasury issues held by the Civil Service Retirement and Disability Fund.
- The legislation proposed establishing a permanent indefinite appropriation for the Civil Service Retirement and Disability Fund.
- The hearing took place during the first session of the 87th Congress.
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- The discussion centered on the Civil Service Retirement Act as amended.
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News Coverage
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Discoveries
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Pension Fund Modernization
The hearing highlights a 1961 effort to transition the Civil Service Retirement Fund toward a more automated, permanent funding structure.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz5Current news / social attention level
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