Employee retirements (11 - 20 of 24 items)
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: 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...
1980 Multiemployer Pension Amendments: Overview of Effects and Issues
HRD-86-4: Published: Feb 13, 1986. Publicly Released: Feb 13, 1986.
In response to a congressional request, GAO reported on: (1) changes in the Pension Plan Insurance Program's financial condition since the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) was enacted; (2) the act's initial effects on the program, plan participants, and contributing employers; and (3) possible effects of the act over the long term.GAO found that, at the time MPPAA was enac...
Premium Requirements of the Single Employer Pension Insurance Program
127200: Jun 19, 1985
Testimony was given on GAO views of the financial condition of the single employer pension insurance program and a presidential budget request that the current rate for each participant be increased to $7.50 retroactive to January 1, 1985. The Pension Benefit Guaranty Corporation (PBGC) administers the self-financing program which finances insurance claims for guaranteed benefits not funded by spo...
The 1980 Multiemployer Pension Plan Amendments Act: An Assessment of Funding Requirement Changes
HRD-85-1: Published: Feb 27, 1985. Publicly Released: Feb 27, 1985.
GAO reported on the effect of the Multiemployer Pension Plan Amendments Act of 1980 on employers, participants, and others, and it assessed the effect of the act's changes in multiemployer plan funding requirements.GAO found that 14 of 149 plans it examined were financially distressed and could pose a risk to the government's insurance program amounting to billions of dollars. The act's provisions...
Economic Implications of the Fair Insurance Practices Act
OCE-84-1: Published: Apr 6, 1984. Publicly Released: Apr 6, 1984.
In response to a congressional request, GAO reviewed the economic implications of the proposed Fair Insurance Practices Act. Specifically, GAO reviewed: (1) how cost considerations vary by type of insurance; and (2) the effect that unfunded liabilities in pension plans would have on the ability of pension plans to meet the minimum funding requirements of the Employee Retirement Income Security Act...
Statement on Investigation To Reform Teamsters' Central States, Southeast and Southwest Areas Pension Fund
119252: Jul 26, 1982
GAO discussed its review of the Government's investigation to reform the Teamsters' Central States, Southeast and Southwest Areas Pension Fund. Since the Fund's inception in 1955, its trustees have been the subject of controversy and allegations of misuse and abuse of its assets. Over the past 14 years, various Federal agencies have investigated the Fund and the alleged misconduct by the trustees...
Audit of Report of the U.S. Army Nonappropriated Fund Employee Retirement Plan for Fiscal 1980
AFMD-82-65: Published: Jun 29, 1982. Publicly Released: Jun 29, 1982.
GAO examined the statement of financial position of the U.S. Army Nonappropriated Fund Employee Retirement Plan as of September 30, 1980. The evaluation included the related statements of changes in net assets available for benefits and in the present value of accumulated plan benefits for the year then ended.GAO found the following omissions which needed correction: (1) neither the accounting and...