Trust funds (1 - 10 of 24 items)
Pension Benefit Guaranty Corporation: Improvements Needed to Address Financial and Management Challenges
GAO-08-1162T: Published: Sep 24, 2008. Publicly Released: Sep 24, 2008.
The Pension Benefit Guaranty Corporation (PBGC) insures the retirement future of nearly 44 million people in more than 30,000 private-sector defined benefit pension plans. In July 2003, GAO designated PBGC's single-employer pension insurance program--its largest insurance program--as "high risk," including it on GAO's list of major programs that need urgent attention and transformation. The progra...
Social Security Reform: Analysis of a Trust Fund Exhaustion Scenario Illustrates the Difficult Choices and the Need for Early Action
GAO-03-1038T: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
Social Security is an important social insurance program affecting virtually every American family. It is the foundation of the nation's retirement income system and also provides millions of Americans with disability insurance and survivors' benefits. Over the long term, as the baby boom generation retires, Social Security's financing shortfall presents a major program solvency and sustainability...
Social Security: Actuarial Projections of the Trust Funds
AIMD-00-53R: Published: Jan 14, 2000. Publicly Released: Jan 14, 2000.
Pursuant to a congressional request, GAO reviewed the Pricewaterhouse Coopers (PwC) report on the actuarial projections for the trust funds of the Old Age, Survivors, and Disability Insurance programs, focusing on whether the Social Security Administration's (SSA) Board of Trustees': (1) 1999 long-range intermediate actuarial projections--their best estimates--as presented in the Trustees' 1999 re...
Consultant's Review of the Social Security Administration's Cost Assignment Methodology
AIMD-98-3R: Published: Oct 1, 1997. Publicly Released: Oct 1, 1997.
GAO provided information on the performance of a study conducted by Price Waterhouse LLP of the Social Security Administration's (SSA) cost assignment methodology used to charge costs to the Medicare Trust Funds. GAO's review was not intended to enable it to express, and it does not express, an opinion on SSA's cost accounting system.GAO noted that: (1) Price Waterhouse reports that, although SSA'...
Public Pensions: Summary of Federal Pension Plan Data
AIMD-96-6: Published: Feb 16, 1996. Publicly Released: Mar 18, 1996.
Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on federally sponsored defined benefit and contribution plans subject to reporting requirements legislation.GAO found that: (1) 34 federal government defined benefit plans have over 10 million participants and 17 defined contribution plans have 2.2 million participants; (2) the 34 defined benefit...
Social Security Trust Funds
AIMD-96-30R: Published: Dec 12, 1995. Publicly Released: Dec 12, 1995.
Pursuant to a congressional request, GAO reviewed the Secretary of the Treasury's actions during the 1995 debt ceiling crisis, focusing on whether the Department of the Treasury followed normal investment and redemption policies regarding the Social Security trust funds. GAO noted that Treasury records show that the Secretary followed normal investment and redemption policies for all transactions...
Financial Audit: Pension Benefit Guaranty Corporation's 1994 and 1993 Financial Statements
AIMD-95-83: Published: Mar 8, 1995. Publicly Released: Mar 8, 1995.
Pursuant to a legislative requirement, GAO audited the Pension Benefit Guaranty Corporation's (PBGC) Single-Employer Fund and Multiemployer Fund for the fiscal years ended September 30, 1994 and 1993 and evaluated PBGC internal controls and compliance with laws and regulations.GAO found that: (1) PBGC financial statements were reliable in all material aspects; (2) weaknesses in PBGC internal contr...
Armed Forces Retirement Home
HRD-94-49R: Published: Nov 3, 1993. Publicly Released: Nov 3, 1993.
Pursuant to a congressional request, GAO reviewed the financing, operations, and management of the Armed Forces Retirement Home, focusing on: (1) the Home's analysis of its trust fund's status; and (2) allegations of funds mismanagement by senior staff at the Soldiers and Airmen's facility. GAO found that the Home: (1) has reasonably analyzed the trust fund's status; (2) estimates that the trust f...
Social Security: Analysis of a Proposal to Privatize Trust Fund Reserves
HRD-91-22: Published: Dec 12, 1990. Publicly Released: Jan 11, 1991.
Pursuant to a congressional request, GAO reviewed a congressional proposal to create a new system of Individual Social Security Retirement Accounts (ISSRA), in which workers could place accumulated social security reserves for private-sector investment.GAO found that: (1) the proposal's effect on national saving was unclear; (2) ISSRA could be integrated with the existing progressive benefit struc...
Railroad Retirement: Future Rail Employment and Trust Fund Solvency
HRD-89-30: Published: Apr 5, 1989. Publicly Released: May 8, 1989.
In response to a congressional request, GAO assessed the railroad retirement program, focusing on: (1) factors influencing the level of railroad employment; and (2) independent estimates of rail employment used to project the financial state of the railroad retirement trust fund.GAO found that: (1) railroad employment had dropped over 40 percent since 1980 and was likely to continue to decline to...