Labor force (1 - 10 of 72 items)
Retirement Security: Trends in Marriage, Work, and Pensions May Increase Vulnerability for Some Retirees
GAO-14-272T: Published: Mar 5, 2014. Publicly Released: Mar 5, 2014.
The decline in marriage, rise in women's labor force participation, and transition away from defined benefit (DB) plans to defined contribution (DC) plans have resulted in changes in the types of retirement benefits households receive and increased vulnerabilities for some. Since the 1960s, the percentage of unmarried and single-parent families has risen dramatically, especially among low-income,...
Retirement Security: Trends in Marriage and Work Patterns May Increase Economic Vulnerability for Some Retirees
GAO-14-33: Published: Jan 15, 2014. Publicly Released: Feb 26, 2014.
Over the last 50 years, the composition and work patterns of the American household have changed dramatically. During this period, the proportion of unmarried and never-married individuals in the population increased steadily as couples chose to marry at later ages and live together prior to marriage. At the same time, the proportion of single-parent households more than doubled. These trends were...
Retirement Security: Older Women Remain at Risk
GAO-12-825T: Published: Jul 25, 2012. Publicly Released: Jul 25, 2012.
Over the last decade, working womens access to and participation in employer-sponsored retirement plans have improved relative to men. In fact, from 1998 to 2009, women surpassed men in their likelihood of working for an employer that offered a pension planlargely because the proportion of men covered by a plan declined. Furthermore, as employers have continued to terminate their defin...
401(k) Plans: Survey of 401(k) Plan Sponsors on Fees (GAO-12-550SP, April 2012), an E-supplement to GAO-12-325
GAO-12-550SP: Published: Apr 24, 2012. Publicly Released: May 23, 2012.
This e-supplement is a companion to our report entitled "401(k) Plans: Increased Educational Outreach and Broader Oversight May Help Reduce Plan Fees," GAO-12-325. The purpose of this e-supplement is to provide information from a survey of 401(k) plan sponsors...
Unemployed Older Workers: Many Face Long-Term Joblessness and Reduced Retirement Security
GAO-12-724T: Published: May 15, 2012. Publicly Released: May 15, 2012.
Unemployment rates for workers of all ages have risen dramatically since the start of the recent recession in December 2007, and workers age 55 and over have faced particularly long periods of unemployment. The seasonally unadjusted unemployment rate for older workers increased from 3.1 percent in December 2007 to a high of 7.6 percent in February 2010, before it decreased to 6.0 percent in April...
Pension Benefit Guaranty Corporation: Improvements Needed to Strengthen Governance Structure and Strategic Management
GAO-11-182T: Published: Dec 1, 2010. Publicly Released: Dec 1, 2010.
The Pension Benefit Guaranty Corporation (PBGC) is a self-financing government corporation that insures the pensions of 44 million workers in more than 27,000 private sector defined benefit pension plans. Yet, PBGC faces financial instability that could pose a future threat to this source of protection for Americans' retirement income. As fewer sponsors pay premiums for fewer participants in defin...
Pension Benefit Guaranty Corporation: Financial Challenges Highlight Need for Improved Governance and Management
GAO-09-702T: Published: May 20, 2009. Publicly Released: May 20, 2009.
The Pension Benefit Guaranty Corporation (PBGC) insures the retirement future of nearly 44 million people in over 29,000 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 Congressional attention and agency action. Th...
Older Workers: Enhanced Communication among Federal Agencies Could Improve Strategies for Hiring and Retaining Experienced Workers
GAO-09-206: Published: Feb 24, 2009. Publicly Released: Feb 24, 2009.
The federal workforce, like the nation's workforce as a whole, is aging, and increasingly large percentages are becoming eligible to retire. Eventually baby boomers will leave the workforce and when they do, they will leave behind gaps in leadership, skills, and knowledge due to the slower-growing pool of younger workers. GAO and others have emphasized the need for federal agencies to hire and ret...
Defined Benefit Pension Plans: Guidance Needed to Better Inform Plans of the Challenges and Risks of Investing in Hedge Funds and Private Equity
GAO-08-692: Published: Aug 14, 2008. Publicly Released: Sep 10, 2008.
Millions of retired Americans rely on defined benefit pension plans for their financial well-being. Recent reports have noted that some plans are investing in 'alternative' investments such as hedge funds and private equity funds. This has raised concerns, given that these two types of investments have qualified for exemptions from federal regulations, and could present more risk to retirement ass...
Pension Benefit Guaranty Corporation: A More Strategic Approach Could Improve Human Capital Management
GAO-08-624: Published: Jun 12, 2008. Publicly Released: Jul 14, 2008.
The Pension Benefit Guaranty Corporation (PBGC) employs over 800 federal employees and uses some 1,500 private sector employees to insure the pensions of millions of private sector workers and retirees in certain employer-sponsored pension plans. In recent years, PBGC's projected financial liabilities and workloads have increased greatly due to a large number of pension plan terminations. Given th...