Beneficiaries (31 - 40 of 134 items)
Private Pensions: 401(k) Plan Participants and Sponsors Need Better Information on Fees
GAO-08-95T: Published: Oct 24, 2007. Publicly Released: Oct 24, 2007.
According to Labor's most recent data, there are an estimated 44 million active participants in 401(k) plans. As participants accrue earnings on their investments, they also pay a number of fees, associated with 401(k) plans. Over the course of the employee's career, fees may significantly decrease retirement account balances. For plan sponsors, understanding the fees they are being charged helps...
Federal Retirement Thrift Investment Board: Due Diligence Over Administrative Expenses Should Continue and Be Broadened
GAO-07-541: Published: May 14, 2007. Publicly Released: Jun 13, 2007.
The Federal Retirement Thrift Investment Board (FRTIB) is charged with managing the Thrift Savings Plan (TSP)--a key component of retirement savings for many federal employees--in the interest of its participants and beneficiaries. As part of a broader request on oversight of FRTIB, GAO reviewed (1) the administrative expenses of FRTIB and key components of these expenses, (2) whether the administ...
Retiree Health Benefits: Majority of Sponsors Continued to Offer Prescription Drug Coverage and Chose the Retiree Drug Subsidy
GAO-07-572: Published: May 31, 2007. Publicly Released: May 31, 2007.
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) created a prescription drug benefit for beneficiaries, called Medicare Part D, beginning in January 2006. The MMA resulted in options for sponsors of employment-based prescription drug benefits, such as a federal subsidy payment--the retiree drug subsidy (RDS)--when sponsors provide benefits meeting certain MMA requir...
Vocational Rehabilitation: Improved Information and Practices May Enhance State Agency Earnings Outcomes for SSA Beneficiaries
GAO-07-521: Published: May 23, 2007. Publicly Released: May 23, 2007.
State vocational rehabilitation (VR) agencies, under the Department of Education (Education), play a crucial role in helping individuals with disabilities prepare for and obtain employment, including individuals receiving disability benefits from the Social Security Administration (SSA). In a prior report (GAO-05-865), GAO found that state VR agencies varied in the rates of employment achieved for...
Vocational Rehabilitation: Earnings Increased for Many SSA Beneficiaries after Completing VR Services, but Few Earned Enough to Leave SSA's Disability Rolls
GAO-07-332: Published: Mar 30, 2007. Publicly Released: Mar 30, 2007.
In 2005, about 10 million working-age people with disabilities were beneficiaries of federal income support programs administered by the Social Security Administration (SSA)--namely the Disability Insurance (DI) program and the Supplemental Security Income (SSI) program. Both of these programs have grown dramatically over the past decade and the federal government's cost of providing these benefit...
Employee Benefits Security Administration: Enforcement Improvements Made but Additional Actions Could Further Enhance Pension Plan Oversight
GAO-07-22: Published: Jan 18, 2007. Publicly Released: Feb 20, 2007.
The Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) enforces the Employee Retirement Income Security Act of 1974 (ERISA), which sets certain minimum standards for private sector pension plans. On the basis of GAO's prior work, the Senate Committee on Health, Education, Labor and Pensions asked GAO to review EBSA's enforcement program. Specifically, this report assesses...
Options for Social Security Reform
GAO-05-649R: Published: May 6, 2005. Publicly Released: May 6, 2005.
This report provides a list of the various options available to reform the Social Security program. It includes a table that lists a wide range of provisions that various proposals have used in some form. In addition, there is a list of such proposals, all of which have been scored by the Social Security Administration's Office of the Chief Actuary (SSA/OCACT). Our list of provisions is intended t...
Social Security Administration: A More Formal Approach Could Enhance SSA's Ability to Develop and Manage Totalization Agreements
GAO-05-250: Published: Feb 28, 2005. Publicly Released: Mar 31, 2005.
Since 1977, the U.S. has entered into bilateral social security totalization agreements with 20 foreign countries. In fiscal year 2004, the Social Security Administration (SSA) paid approximately $206 million to 102,000 beneficiaries in these countries based on their eligible periods of coverage. If put into force, pending agreements with Mexico and Japan will increase the number of beneficiaries...
Social Security Administration: Better Planning Could Make the Ticket Program More Effective
GAO-05-248: Published: Mar 2, 2005. Publicly Released: Mar 2, 2005.
The Social Security Administration (SSA) manages the two largest federal disability benefit programs and made approximately $75 billion in payments to about 8 million beneficiaries (ages 18 through 64) in 2003. Given the size of its programs, even small improvements in SSA's ability to return beneficiaries to work offer the potential for significant savings. Until recently, Social Security benefic...
Disability Insurance: SSA Should Strengthen Its Efforts to Detect and Prevent Overpayments
GAO-04-929: Published: Sep 10, 2004. Publicly Released: Oct 19, 2004.
The Social Security Administration's (SSA) Disability Insurance (DI) program is one of the nation's largest cash assistance programs for disabled workers. In fiscal year 2003, the DI program provided about $70 billion in financial assistance to approximately 7.5 million disabled workers, their spouses, and dependent children. This program has grown in recent years and is poised to grow further as...