Financial management (101 - 110 of 126 items)
Social Security Actuarial Projections
HRD-83-92: Published: Sep 30, 1983. Publicly Released: Sep 30, 1983.
This study examined past Social Security Administration (SSA) actuarial projections of the future long-range financial status of the old-age, survivors, and disability insurance (OASDI) trust funds. The study focused on the integrity of the demographic and economic assumptions, the actuarial methods, and the actuaries' professional independence.The evidence gathered neither proved nor disproved th...
Retirement and Unemployment Insurance Programs of the Railroad Retirement Board
121261: May 3, 1983
Testimony was given concerning proposed legislation that would improve the financial condition of the railroad retirement and unemployment programs. GAO also described how the system operates and how it is tied to social security and discussed past GAO proposals to improve the railroad retirement program's financial condition. The railroad retirement program involves benefits similar to those avai...
Concerns About Controlling Union Employees' Benefit Funds by the Carpenters Collection Agency, Youngstown, OH
HRD-83-8: Published: Nov 12, 1982. Publicly Released: Nov 22, 1982.
GAO was asked to examine: (1) the legality and functions of the Carpenters Central Collection and Administrative Agency (CCA), a nonprofit Ohio corporation that collects fringe benefit contributions from building trade employees; and (2) the timeliness and effectiveness of the Department of Labor's investigation and reporting of CCA activities.GAO found that Labor did not take aggressive action to...
Disclaimer of Opinion on the Financial Statements of the Pension Benefit Guaranty Corporation for FY 1980
AFMD-82-42: Published: Jun 23, 1982. Publicly Released: Jun 23, 1982.
GAO examined the combined statement of the financial condition of the Pension Benefit Guaranty Corporation (PBGC) as of September 30, 1980, the related combined statements of operations and changes in the deficiency in net assets, and the changes in financial condition for the year then ended.GAO found material accounting and estimating problems, internal control weaknesses, and major uncertaintie...
Investigation To Reform Teamsters' Central States Pension Fund Found Inadequate
HRD-82-13: Published: Apr 28, 1982. Publicly Released: Jun 3, 1982.
For many years, the Teamster's Pension Fund trustees have been the subject of allegations of misuse of the Fund's assets. Therefore, the Department of Labor initiated an investigation of the Fund and, in response to a congressional request, GAO reviewed the Government's investigation.Labor's objective of having a Government-wide coordinated investigation did not succeed because the Internal Revenu...
The Operations of the Railroad Retirement Board
118455: May 21, 1982
GAO discussed the progress the Railroad Retirement Board has made in responding to its problems and the status of the internal audit function at the Railroad Retirement Board. The Board needs to improve the accuracy, timeliness, and uniformity of eligibility decisions and payments to beneficiaries and to make more effective use of its resources in other areas as well. The actions that the Board ne...
The Results of Initial Review of the Financial and Actuarial Statements Submitted Pursuant to Public Law 95-595
AFMD-82-67: Published: May 21, 1982. Publicly Released: May 21, 1982.
GAO reviewed the Department of Defense (DOD) fiscal year 1980 financial and actuarial statements relating to the military retirement system, a noncontributory, pay-as-you-go, and unfunded system that pays benefits to retired military personnel and certain retirees' survivors.Because the military retirement system is unfunded, DOD contended that a required financial statement and other information...
Allocation of an Air Force Contractor's Pension Fund Assets May Be Inequitable
HRD-81-152: Published: Sep 23, 1981. Publicly Released: Sep 23, 1981.
The Air Force has contracted for services at the Eastern Test Range, Cape Canaveral, with Pan American World Airways for over 25 years. Pan American provided pension benefits for its employees through its Cooperative Retirement Income Plan and is reimbursed by the Government for contributions to the plan for employees working on the Eastern Test Range contract.During a review of contractors' compl...
Financial and Operational Problems at Three Mile Island
116558: Sep 22, 1981
GAO was asked to respond to several issues concerning H.R. 2512 as it relates to cleanup activities at Three Mile Island (TMI) following the nuclear radiation leak there. H.R. 2512 encompasses two critical issues stemming from the TMI accident, increased insurance coverage and cleanup funding, both of which need immediate resolution. Passage of H.R. 2512 is premature and requires establishing an o...
Cost of Increased Retirement Benefits for Panama Canal Employees
FPCD-81-42: Published: May 6, 1981. Publicly Released: May 28, 1981.
GAO was asked to provide information on the appropriateness of the Office of Personnel Management (OPM) cost determination as related to the increased retirement benefits granted to Panama Canal employees by legislation implementing the Panama Canal Treaty. In a previous report, GAO expressed concern that, unless OPM charged the Panama Canal Commission on a basis which considered future pay and co...