Pension plan (101 - 110 of 114 items)
Study of the Funding of State and Local Government Retirement Systems
110489: Sep 27, 1979
A study of the funding of public employee pension systems maintained by state and local governments covered 72 pension plans administered by 8 state and 26 local governments. The states selected included different parts of the nation and different approaches to pension funding. The review was directed toward a broad spectrum of pension activity to determine the potential financial impact of pensio...
Funding of State and Local Government Pension Plans: A National Problem
HRD-79-66: Published: Aug 30, 1979. Publicly Released: Aug 30, 1979.
Congress is considering establishing federal standards for state and local government pension plans similar to those imposed on private plans by the Employee Retirement Income Security Act of 1974. The act generally provides that the minimum standard for pension funding by private employers be an annual contribution for normal costs plus the amount needed to amortize current unfunded liabilities i...
Internal Revenue Service Efforts and Plans To Enforce the Employee Retirement Income Security Act
HRD-79-55: Published: Mar 28, 1979. Publicly Released: Mar 28, 1979.
Efforts to enforce the provisions of the Employee Retirement Income Security Act (ERISA) by the Internal Revenue Service (IRS) were reviewed.Since the enactment of ERISA, IRS has spent most of its field enforcement effort on determining whether plan provisions comply with ERISA requirements. Weaknesses in the determination process may result in pension plans being approved and operated which do no...
H.R. 9701, a Bill To Require That Federal Pension Plans File Annual Financial and Actuarial Reports
106518: Jul 24, 1978
The purpose of H.R. 9701 is to achieve full, uniform disclosure of the financial condition of federal pension plans. At present, there is no overall policy for guidance in establishing, financing, or amending federal retirement systems. The systems' funding requirements vary and in most cases are less stringent than those imposed on private pension plans. Some systems provide for fully funding ben...
Proposed Legislation Requiring Certain Financial and Actuarial Reports To Be Filed by Federal Pension Plans
095392: Jul 24, 1978
H.R. 9701 would require that federal pension plans file annual financial and actuarial reports somewhat similar to those now required for private pension plans. The purpose of the proposed legislation is to achieve full, uniform disclosure of the financial condition of such pension plans. At present, Congress does not receive realistic and consistent information on the cost of federal retirement p...
Review of RCA Retirement Benefits Questioned by Terminated Employee
PSAD-78-116: Published: May 26, 1978. Publicly Released: May 26, 1978.
A terminated employee questioned the manner in which the RCA Corporation administered and implemented its employees' retirement plan. Aaron alleged that RCA committed fraud by pocketing Government-reimbursed employer contributions to the retirement fund and that employees were not receiving applicable benefits under the company's retirement plan. The employee, who worked on Government contracts du...
Opportunities for Improving Army Oversight of Pension Plans at Government-Owned, Contractor-Operated Ammunition Plants
PSAD-78-85: Published: Apr 18, 1978. Publicly Released: Apr 18, 1978.
The Army Armament Command manages a complex of 25 government-owned, contractor-operated (GOCO) ammunition plants. The contractors are responsible for employing the work force and establishing wage rates, pension programs, and other fringe benefits. About 48 pension plans covered eligible employees at 21 GOCO ammunition plants; there were no pension plans at the remaining 4 plants. The government's...
Pension Benefit Guaranty Corporation's Proposal to Increase Premium Rate for the Single Employer Basic Benefits Insurance Program
HRD-78-2: Published: Oct 6, 1977. Publicly Released: Oct 6, 1977.
Review of the Pension Benefit Guaranty Corporation's (PBGC) proposed premium rate increase for participants of a defined benefit pension plan under the single employer basic benefits insurance program indicated that the present $1.00 per plan participant per year premium is not adequate to fully fund the program. Although PBGC took into consideration numerous factors and made assumptions which cou...
Contractor Pension Plan Costs: More Control Could Save Department of Defense Millions
PSAD-77-100: Published: May 19, 1977. Publicly Released: May 19, 1977.
The government incurred pension plan costs that were inequitable and too high because the Department of Defense (DOD) permitted actuarial assumptions or unjustified changes in actuarial cost methods.Government controls and surveillance over contractors' pension plan practices were not adequate considering the costs involved. Establishing effective controls and surveillance over these practices cou...
The Investment Decisionmaking Process in Two Michigan Public Employee Retirement Plans
HRD-77-31: Published: Dec 29, 1976. Publicly Released: Dec 29, 1976.
The Michigan Public School Employees' Retirement System, created in 1945, includes all public school districts and almost all universities employees, except those covered by federal programs. The City of Detroit General Retirement System is open to all city employees, except those covered by specific other systems. Until July, 1977, the Michigan System is funded by both employers and employees, af...