Funds management (31 - 40 of 46 items)
Leveraged Buy-Out Funds: Investments by Selected Pension Plans
HRD-89-121: Published: Aug 1, 1989. Publicly Released: Aug 1, 1989.
Pursuant to a congressional request, GAO reviewed the role of private and public pension funds in leveraged buy-outs (LBO), focusing on the: (1) methods pension plans used to evaluate LBO-funded investments; (2) principal provisions of LBO-fund limited-partnership agreements; (3) rate of return pension plans obtained on LBO-fund investments; and (4) Department of Labor's oversight of pension plan...
Railroad Retirement: Future Rail Employment and Trust Fund Solvency
HRD-89-30: Published: Apr 5, 1989. Publicly Released: May 8, 1989.
In response to a congressional request, GAO assessed the railroad retirement program, focusing on: (1) factors influencing the level of railroad employment; and (2) independent estimates of rail employment used to project the financial state of the railroad retirement trust fund.GAO found that: (1) railroad employment had dropped over 40 percent since 1980 and was likely to continue to decline to...
Pension Plans and Leveraged Buy-Outs
T-HRD-89-20: Published: Apr 27, 1989. Publicly Released: Apr 27, 1989.
GAO discussed its work on the role of pension plans in leveraged buy-outs (LBO), focusing on the: (1) incidence of pension plan terminations by companies taken over in LBO; (2) extent of pension plan investments in LBO; and (3) risks of investing pension plan assets in LBO. GAO found that: (1) 40 percent of the companies it reviewed terminated pension plans with a total of about $1.8 billion in as...
Department of Labor: Pension Plans and Corporate Takeovers
HRD-88-58: Published: Mar 31, 1988. Publicly Released: May 20, 1988.
Pursuant to a congressional request, GAO reviewed the Department of Labor's (DOL) enforcement efforts concerning the potential misuse of pension plans in corporate takeovers.GAO found that DOL: (1) delegated responsibility for enforcing Employment Retirement Income Security Act standards to its Pension and Welfare Benefits Administration (PWBA); (2) informally learned of takeover transactions from...
Financial Condition of the Single Employer Pension Plan Insurance Program
T-HRD-87-8: Published: Apr 7, 1987. Publicly Released: Apr 7, 1987.
GAO discussed the financial condition of the Pension Benefit Guaranty Corporation's (PBGC) Single Employer Pension Insurance Program, which generally guarantees workers' vested benefits when a private pension plan terminates. GAO noted that the program is in serious financial trouble because: (1) it had a reported deficit of $3.8 billion as of September 30, 1986; (2) the deficit could reach an est...
Implementation of the Federal Employees' Retirement System Act of 1986
T-GGD-87-10: Published: Mar 25, 1987. Publicly Released: Mar 25, 1987.
Pursuant to a congressional request, GAO testified on the implementation of the Federal Employees Retirement System Act of 1986 (FERS). GAO noted that three lead agencies set policy for investment and management of the thrift savings fund, administer the basic annuity portion of FERS, and serve as information sources for employees transferring to a new retirement system. GAO found that: (1) some a...
The Underfunding of Single Employer Pension Plans
130198: Jun 24, 1986
In response to a congressional request, GAO provided information on private pension plan underfunding, specifically: (1) its extent and effects; (2) factors contributing to underfunding; (3) the potential of the Single Employer Pension Plan Amendments Act of 1986 to alleviate the effects of underfunded terminations; and (4) alternatives for controlling underfunding. GAO found that: (1) of the 14,5...
Pension Plans: Plans With Excess Assets
HRD-86-100BR: Published: May 30, 1986. Publicly Released: May 30, 1986.
In response to a congressional request, GAO reported on excess assets in ongoing single-employer-defined benefit pension plans.GAO analyzed ongoing plans for 1981 and 1983 to assess the extent of and changes in excess plan assets. GAO found that, in 1983: (1) 10,080 of the 14,581 plans were overfunded by a total of about $57 billion; (2) about 70 percent of the 10,080 overfunded plans had assets t...
Pension Plans: Termination of Plans With Excess Assets
HRD-86-89BR: Published: Apr 30, 1986. Publicly Released: May 30, 1986.
In response to a congressional request, GAO reported on defined benefit pension plan terminations involving the reversion of excess plan assets to employers.GAO found that: (1) a higher-than-expected rate of return on investments was most often cited as the reason plans had excess assets at termination; (2) changes in corporate structure and employers' desire to use excess plan assets for non-pens...
Proposals To Change the Military Retirement System
128624: Dec 5, 1985
GAO testified on the structure of the Department of Defense's (DOD) military retirement system, specifically: (1) the recent change to accrual accounting for retirement annuities; (2) DOD proposals to change the system; and (3) the accuracy of the estimated accrual savings that would result from enacting DOD proposals. GAO noted that: (1) unlike common private-sector practice, the receipt of socia...