Employee benefit plans (11 - 20 of 22 items)
Private Pensions: Participants Need Information on the Risks of Investing in Employer Securities and the Benefits of Diversification
GAO-02-943: Published: Sep 6, 2002. Publicly Released: Oct 7, 2002.
The financial collapse of large firms and the effects on workers and retirees has raised questions about retirement funds being invested in employer securities and the laws governing such investments. Pensions are important source of income of many retirees, and the federal government has encouraged employers to sponsor and maintain pension and savings plans for their employees. The continued grow...
Private Pensions: Key Issues to Consider Following the Enron Collapse
GAO-02-480T: Published: Feb 27, 2002. Publicly Released: Feb 27, 2002.
The collapse of the Enron Corporation and the resulting loss of employee retirement savings highlighted several key vulnerabilities in the nation's private pension system. Asset diversification was a crucial lesson, especially for defined contribution plans, in which employees bear the investment risk. The Enron case underscores the importance of encouraging employees to diversify. Workers need cl...
Improving Financial Condition of the Pension Benefit Guaranty Corporation and Insured Pension Plans
HEHS-99-37R: Published: Dec 18, 1998. Publicly Released: Dec 18, 1998.
Pursuant to a congressional request, GAO provided information on: (1) the Pension Benefit Guaranty Corporation's (PBGC) projections of its financial condition and assumptions used to prepare these projections; and (2) the funding status of the plans it insures and its strategy for investing its assets.GAO noted that: (1) PBGC uses different methodologies to forecast the financial condition of its...
Underfunded Pension Plans: Stronger Funding Rules Needed to Reduce Federal Government's Growing Exposure
T-HEHS-94-191: Published: Jun 15, 1994. Publicly Released: Jun 15, 1994.
Pursuant to a congressional request, GAO discussed its ongoing study of current pension plan funding rules and the impact of proposed pension reform legislation on underfunded plans insured by the Pension Benefit Guaranty Corporation (PBGC). GAO noted that: (1) in 1992, underfunding in PBGC-insured single-employer plans increased to over $50 billion; (2) continued underfunding increases PBGC liabi...
Underfunded Pension Plans: Federal Government's Growing Exposure Indicates Need For Stronger Funding Rules
T-HEHS-94-149: Published: Apr 19, 1994. Publicly Released: Apr 19, 1994.
GAO discussed its ongoing study of current pension plan funding rules and the impact of proposed pension reform legislation on underfunded plans insured by the Pension Benefit Guaranty Corporation (PBGC). GAO noted that: (1) underfunding in PBGC-insured single-employer plans increased from $31 billion in 1990 to over $50 billion in 1992; (2) current law provides for an offset that either completel...
Pension Plans: Hidden Liabilities Increase Claims Against Government Insurance Program
HRD-93-7: Published: Dec 30, 1992. Publicly Released: Dec 30, 1992.
Pursuant to a congressional request, GAO reviewed the Pension Benefit Guaranty Corporation's (PBGC) pension plans and its vulnerability to unfunded liabilities, focusing on: (1) factors which cause hidden liabilities; (2) the impact on recent claims against the pension insurance program; and (3) PBGC ability to control these factors.GAO found that: (1) PBGC exposure to private pension unfunded lia...
Pension Plans: Terminations, Asset Reversions, and Replacements Following Leveraged Buyouts
HRD-91-21: Published: Mar 4, 1991. Publicly Released: Mar 4, 1991.
Pursuant to a congressional request, GAO reviewed what happened to the 558 defined pension plans of 121 public companies acquired in leveraged buyouts (LBO).GAO found that: (1) 20 percent of the defined benefit plans sponsored by the companies were terminated after LBO; (2) the most common reasons for plan terminations included adopting a new plan and the sale of a plant or division; (3) 99 percen...
Pension Plans: Effect of the 1987 Stock Market Decline on Selected Large Plans
HRD-88-128BR: Published: Sep 26, 1988. Publicly Released: Sep 26, 1988.
In response to a congressional request, GAO reviewed the effects of the October 1987 stock market decline on selected pension plans with large amounts of assets, specifically the: (1) relationship between the proportion of funds invested in stock and the changes in the plans' asset values; and (2) effect on defined-benefit and defined-contribution plans.GAO found that: (1) the combined asset value...
Pensions: Plans With Unfunded Benefits
HRD-87-15BR: Published: Oct 22, 1986. Publicly Released: Oct 22, 1986.
In response to a congressional request, GAO provided information on: (1) the extent to which single-employer defined-benefit pension plans are underfunded; and (2) the effect that underfunded plan terminations have had on the government insurance program's financial viability.GAO found that: (1) 3,351 of the 14,581 plans were underfunded by about $21 billion, while the other plans had assets that...
Initial Results of a Survey on Employee Stock Ownership Plans and Information on Related Economic Trends
PEMD-85-11: Published: Sep 30, 1985. Publicly Released: Sep 30, 1985.
In response to a congressional request, GAO reported on a study it is conducting to determine whether the employee stock ownership plans (ESOP) program is meeting its goals of: (1) broadening ownership of corporate stock; (2) providing more funds for capital formation; and (3) improving the performance of sponsoring corporations.GAO found that: (1) the percentage of families owning stock increased...