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Retirement Security (71 - 80 of 1,150 items)
401(k) Plans: Survey of 401(k) Plan Sponsors on Fees (GAO-12-550SP, April 2012), an E-supplement to GAO-12-325
GAO-12-550SP: Published: Apr 24, 2012. Publicly Released: May 23, 2012.
This e-supplement is a companion to our report entitled "401(k) Plans: Increased Educational Outreach and Broader Oversight May Help Reduce Plan Fees," GAO-12-325. The purpose of this e-supplement is to provide information from a survey of 401(k) plan sponsors...
Unemployed Older Workers: Many Experience Challenges Regaining Employment and Face Reduced Retirement Security
GAO-12-445: Published: Apr 25, 2012. Publicly Released: May 15, 2012.
As with many other demographic groups, older workers unemployment overall and long-term unemployment rates have increased dramatically since the recession began in 2007. In December 2011, the unemployment rate for older workers was 6.0 percent, up from 3.1 at the start of the recession, but down from its peak of 7.6 percent in February 2010. In particular, long-term unemployment rose substan...
Unemployed Older Workers: Many Face Long-Term Joblessness and Reduced Retirement Security
GAO-12-724T: Published: May 15, 2012. Publicly Released: May 15, 2012.
Unemployment rates for workers of all ages have risen dramatically since the start of the recent recession in December 2007, and workers age 55 and over have faced particularly long periods of unemployment. The seasonally unadjusted unemployment rate for older workers increased from 3.1 percent in December 2007 to a high of 7.6 percent in February 2010, before it decreased to 6.0 percent in April...
Defined Benefit Pension Plans: Recent Developments Highlight Challenges of Hedge Fund and Private Equity Investing
GAO-12-324: Published: Feb 16, 2012. Publicly Released: Mar 19, 2012.
While plan representatives GAO contacted generally stated that their hedge fund and private equity investments met expectations in recent years, a number of plans experienced losses and other challenges, such as limited liquidity and transparency. National data indicated that hedge fund and private equity investments were significantly affected by the 2008-2009 financial crisis, and plans and expe...
Private Pensions: Better Agency Coordination Could Help Small Employers Address Challenges To Plan Sponsorship
GAO-12-459T: Published: Mar 7, 2012. Publicly Released: Mar 7, 2012.
We found that the likelihood that a small employer will sponsor a retirement plan largely depends on the size of the employers workforce and the workers average wages. Small employers, retirement experts, and other stakeholders also identified a number of challenges such as plan complexity and resource constraintsto starting and maintaining retirement plans. In addition, st...
Private Pensions: Better Agency Coordination Could Help Small Employers Address Challenges to Plan Sponsorship
GAO-12-326: Published: Mar 5, 2012. Publicly Released: Mar 7, 2012.
Based on available data, about 14 percent of small employers sponsor some type of retirement plan. Overall, GAO found that the likelihood that a small employer will sponsor a retirement plan largely depends on the size of the employers workforce and the workers average wages more than on the industry in which the employer operates and the geographic region in which the employer is loca...
State and Local Government Pension Plans: Economic Downturn Spurs Efforts to Address Costs and Sustainability
GAO-12-322: Published: Mar 2, 2012. Publicly Released: Mar 2, 2012.
Despite the recent economic downturn, most large state and local government pension plans have assets sufficient to cover benefit payments to retirees for a decade or more. However, pension plans still face challenges over the long term due to the gap between assets and liabilities. In the past, some plan sponsors have not made adequate plan contributions or have granted unfunded benefit increases...
Federal Employees' Compensation Act: Benefits for Retirement-Age Beneficiaries
GAO-12-309R: Published: Feb 6, 2012. Publicly Released: Feb 6, 2012.
In 2010, 31,880or 10 percentof all FECA beneficiaries were long-term, full-time beneficiaries and 10,873 of thoseor 34 percentwere at full retirement age, as defined under the Social Security Act. Of the $1.9 billion total in cash benefits paid to FECA beneficiaries, over half (58 percent) went to long-term, full-time beneficiaries. Of that half, long-term, full-time benefi...
OPM Retirement Modernization: Progress Has Been Hindered by Longstanding Information Technology Management Weaknesses
GAO-12-430T: Published: Feb 1, 2012. Publicly Released: Feb 1, 2012.
In a series of reviews, GAO found that OPMs retirement modernization efforts were hindered by weaknesses in key management practices that are essential to successful IT modernization projects. For example, in 2005, GAO made recommendations to address weaknesses in the following areas:Project management: While OPM had defined major components of its retirement modernization effort, it had not...
Capitol Police: Retirement Benefits, Pay, Duties, and Attrition Compared to Other Federal Police Forces
GAO-12-58: Published: Jan 24, 2012. Publicly Released: Jan 25, 2012.
USCP generally has enhanced retirement benefits, a higher minimum starting salary, and a wider variety of protective duties than other federal police forces in the DC metro area that GAO reviewed, but has similar employment requirements. Even though USCP, Park Police, Supreme Court Police, and Secret Service Uniformed Division are federal police forces, they provide enhanced retirement benefits si...