Employee retirements (11 - 20 of 20 items)
OCG-93-19TR: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
Pursuant to a congressional request, GAO summarized information on federal labor issues facing Congress and the new administration.GAO noted that: (1) the Department of Labor needs to foster competition and assist workers to adapt to the changing environment of the workplace; (2) Labor faces significant challenges because of an inadequate education system, an increasing unskilled workforce, and a...
Pension Plans: Pension Benefit Guaranty Corporation Needs to Improve Premium Collections
HRD-92-103: Published: Jun 30, 1992. Publicly Released: Aug 11, 1992.
Pursuant to a congressional request, GAO reviewed the Pension Benefit Guaranty Corporation's (PBGC) efforts to collect pension plan premiums.GAO found that PBGC: (1) efforts to identify and collect delinquent premiums and underpaid premiums, interest, and penalties on premiums have been inadequate; (2) has infrequently issued and failed to follow up on past-due notices; (3) has not sent past-due n...
Cost Accounting: Department of Energy's Management of Contractor Pension and Health Benefit Costs
AFMD-90-13: Published: Aug 29, 1990. Publicly Released: Aug 29, 1990.
Pursuant to a congressional request, GAO reviewed Department of Energy (DOE) policies and practices regarding the reimbursement of contractors for the costs of their employees' pension and retiree health plans.GAO found that: (1) DOE allowed contractors to establish the amount of their contributions to employee plans, as long as the contributions fell within the minimum and maximum guidelines set...
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...
Financial Conditions of Multiemployer Pension Plans Generally Improved From 1978 to 1980
HRD-85-72: Published: Jul 29, 1985. Publicly Released: Jul 29, 1985.
Pursuant to a congressional request, GAO studied the effects of the Multiemployer Pension Plan Amendments Act of 1980 and its provisions, including: (1) characteristics of the plan participants; (2) the plan's financial characteristics; and (3) indicators of the plan's financial condition.GAO collected comparable multiyear data on a sample of multiemployer plans and issued a series of reports on t...
Interim Report on the Department of Labor's Management of the ERISA Enforcement Program
HRD-85-82: Published: Jun 24, 1985. Publicly Released: Jul 5, 1985.
In response to a congressional request, GAO provided information on its ongoing review of the Department of Labor's management of the Employee Retirement Income Security Act (ERISA) enforcement program.The Office of Pension and Welfare Benefit Programs (OPWBP) is responsible for enforcing ERISA reporting, disclosure, and fiduciary provisions. In 1984, OPWBP reported closing 2,454 cases, and $93 mi...
Assessment of How the Department of Labor's Solicitor's Office Handles Pension and Welfare Benefit Cases
HRD-85-6: Published: Nov 6, 1984. Publicly Released: Dec 8, 1984.
In response to a congressional request, GAO reviewed the Department of Labor's Office of the Solicitor's handling of employee pension and welfare benefit cases involving alleged violations of the Employee Retirement Income Security Act (ERISA).The Solicitor's Office provides legal analyses of cases of alleged ERISA reporting, disclosure, and fiduciary provisions violations and provides advice on w...
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...
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...
Federal Retirement Systems: Unrecognized Costs, Inadequate Funding, Inconsistent Benefits
FPCD-77-48: Published: Aug 3, 1977. Publicly Released: Aug 3, 1977.
The cost and liabilities of federal retirement programs are much greater than recognized by current costing and funding procedures.In 1976, seven of the government's retirement systems paid over $15.6 billion to retirees and the survivors of deceased employees and retirees, an increase of $10 billion since 1970. The systems also reported liabilities exceeding $320 billion for which less than $44 b...