Through its Retirement Systems Modernization (RSM) program, the Office of Personnel Mgmt. (OPM) is modernizing the paper intensive processes & antiquated information systems it uses to support the retirement of civilian fed. employees. RSM is intended to deploy new or modified systems beginning in Feb. 2008 to improve the efficiency & effectiveness of the agency¿s retirement program. This report: (1) determines whether OPM is effectively managing the RSM program to ensure that system components perform as intended; & (2) evaluates the risks, cost, & progress of the RSM program. To meet these objectives, the author analyzed program documentation against relevant plans, policies, & practices. Includes recommendations. Charts & tables.