Funds management (91 - 100 of 136 items)
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...
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...
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...
[Sequestration of Retirement Funds for District of Columbia Employees Under P.L. 99-177]
B-221498.10: Published: May 30, 1986. Publicly Released: May 30, 1986.
GAO addressed issues pertaining to the sequestration of monies for the District of Columbia's employee retirement funds. GAO noted that: (1) that portion of the federal payment to the District that the Treasury paid before February 1, 1986, was not sequesterable because it had already been obligated by that date; and (2) it did not identify the federal retirement fund contribution as a separate ap...
Functional Regulation: An Analysis of Two Types of Pooled Investment Funds
GGD-86-63: Published: May 12, 1986. Publicly Released: May 12, 1986.
GAO examined the implications and considerations associated with subjecting similar financial products and services to similar regulatory treatment, specifically mutual funds and bank-sponsored collective investment funds. This would allegedly result in eliminating the competitive advantage in the marketplace that one type of fund may have over the other. GAO developed two scenarios that could lea...
Social Security: Past Projections and Future Financing Concerns
HRD-86-22: Published: Mar 11, 1986. Publicly Released: Mar 11, 1986.
Pursuant to a congressional request, GAO reviewed the past and current projections for the Old Age and Survivors Insurance (OASI) trust fund, specifically the important assumptions underlying the revenue and spending projections that determine the trust fund balance.GAO found that: (1) through 1982, projections of the OASI trust fund balance have been inaccurate, because the inability to foresee e...
Disinvestment of the Social Security Trust Funds
129131: Feb 18, 1986
Testimony was given concerning specific issues and options associated with the disinvestment of social security trust funds. GAO noted that, when the Department of the Treasury's cash accounts lack sufficient funds to pay both social security benefits and other obligations and borrowing authority is limited or nonexistent, the Secretary is forced to either violate the investment requirements of th...