The DoD Office of the Actuary provides actuarial expertise on all matters relating to military compensation and benefits. The Office works in support of the DoD Board of Actuaries and the DoD Medicare-Eligible Retiree Health Care Board of Actuaries. Both boards fall under the Federal Advisory Committee Act (FACA). You can find more information about their composition, meetings, and reports on the FACA website: www.facadatabase.gov.
The DoD Office of the Actuary performs annual valuations of the military retirement system, education benefits under the Montgomery G. I. Bill, health care for the military retired population, and the Voluntary Separation Incentive program. These valuations include projecting personnel, pay, and benefits, and calculating annual DoD contribution costs, as well as determining program unfunded liabilities and their amortizations.
The Office also responds to requests for cost estimates of proposed changes in benefits from DoD, other government agencies, and military service support groups.
Led by Pete Zouras with a team of experienced actuaries, the Office of the Actuary (OACT) delivers actuarial expertise and ensures soundness of the Funds which provide essential benefits to the military community. OACT delivers mission critical objectives on behalf of the Office of Secretary of Defense and the military services.