OPM's budget is the federal retirement system. Its own operating budget is a rounding error beside it.

Office of the Chief Financial Officer · Office of Personnel Management

OPM is the textbook trust-fund agency. Its reported budget authority is dominated by mandatory, non-program money — the federal retirement and insurance trust funds it administers: annuities from the Civil Service Retirement & Disability Fund, health benefits through FEHB, and life insurance through FEGLI. That money is kept strictly apart here from OPM's discretionary operating budget — its Salaries & Expenses plus a Congressionally-limited administrative transfer. FY2025 actuals, FY2026, and the FY2027 request. The operating side recomputes to the dollar against its source; the trust-fund benefit payments are never shown as program spending.