Retirement benefits (21 - 30 of 38 items)
Social Security Reform: Implementation Issues for Individual Accounts
HEHS-99-122: Published: Jun 18, 1999. Publicly Released: Jun 18, 1999.
Pursuant to a congressional request, GAO provided information on social security reform, focusing on issues to consider regarding the design and implementation of an individual account system.GAO noted that: (1) the social security system is one of the nation's most important and visible programs; (2) while individual accounts offer the possibility of an improved rate of return on individual contr...
Social Security: Criteria for Evaluating Social Security Reform Proposals
T-HEHS-99-94: Published: Mar 25, 1999. Publicly Released: Mar 25, 1999.
Pursuant to a congressional request, GAO discussed how best to ensure the long-term viability of the Social Security Program.GAO noted that: (1) as attention has focused on social security's future financial situation, a wide array of proposals have been put forth; (2) some proposals would reduce benefits, some would raise revenues, and most propose some combination to restore financial solvency;...
Social Security: Individual Accounts as an Element of Long-Term Financing Reform
T-HEHS-99-86: Published: Mar 16, 1999. Publicly Released: Mar 16, 1999.
Pursuant to a congressional request, GAO discussed how best to ensure the long-term viability of the nation's social security program.GAO noted that: (1) social security forms the foundation of the nation's retirement income structure, and in so doing, provides critical benefits to millions of Americans; (2) yet, problems facing this program pose significant policy challenges that need to be addre...
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...
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...
Insurance Company Failures Threaten Retirement Income
T-HRD-91-41: Published: Jun 27, 1991. Publicly Released: Jun 27, 1991.
GAO discussed the impact of insurance company failures on pension plan incomes, focusing on what happens when pension plans purchase insurance annuities and invest funds through insurance companies. GAO noted that: (1) pension plans have purchased annuities for 3 million to 4 million retirees and have invested about a third of all pension assets with insurance companies; (2) between January 1975 a...
Private Pensions: Millions of Workers Lose Federal Benefit Protection at Retirement
HRD-91-79: Published: Apr 25, 1991. Publicly Released: Apr 25, 1991.
Pursuant to a congressional request, GAO reviewed the protection available to retirees receiving benefits from insurance companies in case of insurance company failure, focusing on: (1) how many retirees received their benefits from insurance companies; (2) whether federal and state guarantees were available for those annuitants; and (3) recent financial difficulties in the insurance industry.GAO...
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...
Vesting Status of Selected Participants in Top-Heavy Pension Plans
T-HRD-88-3: Published: Oct 23, 1987. Publicly Released: Oct 23, 1987.
Pursuant to a congressional request, GAO discussed the effect of replacing 1982 "top-heavy" pension plan vesting rules with those of the Tax Reform Act of 1986. After comparing the vesting status of 859 active participants in 128 top-heavy small-business pension plans, GAO noted that, if the plans had used the 1986 graded vesting schedule: (1) the proportion of nonvested women would have increased...
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...