Employee benefit plans (21 - 29 of 29 items)
Private Pensions: Impact of New Vesting Rules Similar for Women and Men
HRD-90-101: Published: Aug 21, 1990. Publicly Released: Aug 21, 1990.
Pursuant to a legislative requirement, GAO reviewed the impact of the Tax Reform Act of 1986 provisions that changed vesting requirements for participants in private pension plans, focusing on the: (1) proportion of women and men vested under the old and new rules; and (2) changes in vested benefits due to the act.GAO found that: (1) the provisions improved employees' vesting status and had a simi...
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...
Effects of Liabilities Assessed Employers Withdrawing From Multiemployer Pension Plans
HRD-85-16: Published: Mar 14, 1985. Publicly Released: Mar 14, 1985.
GAO reviewed the implementation and effects of the withdrawal liability provisions of the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) on those multiemployer plans not covered by the special rules or exemptions that apply mainly to construction and entertainment industry plans.The Pension Benefit Guaranty Corporation (PBGC) administers an insurance program for private pension plans an...
Incomplete Participant Data Affect Reliability of Values Placed by Actuaries on Multiemployer Pension Plans
HRD-84-38: Published: Sep 6, 1984. Publicly Released: Sep 6, 1984.
GAO evaluated the effect of the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) on employers, participants, and others. Specifically, GAO reviewed the development and reporting of actuarial information.GAO found that, although pension plan participant data are crucial in determining the actuarial value of pension plans, many multiemployer plans lack complete participant data, causing lia...
Improved Processes Needed To Insure Timely Benefit Payments to Participants of Single Employer Pension Plans
HRD-84-58: Published: May 31, 1984. Publicly Released: May 31, 1984.
In response to a congressional request, GAO reviewed the effectiveness of the Pension Benefit Guaranty Corporation (PBGC) processes for ensuring that participants in private pension plans receive guaranteed benefits when plans terminate.GAO evaluated the PBGC processing of numerous insufficient pension plans to: (1) determine why eligible participants were not receiving benefit payments; (2) asses...
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...
The Investment Decisionmaking Process in Two Virginia Public Employee Retirement Plans
HRD-77-32: Published: Dec 29, 1976. Publicly Released: Dec 29, 1976.
The Virginia Supplemental Retirement System originated in 1908 primarily as a benefit to teachers, but now has 214,000 active and retired members, and incorporates the State Police Officers Retirement System and the Judicial Retirement System in its management and investment activities. The Employees' Retirement System of the City of Roanoke, created by city ordinance in 1946, had, in fiscal year...
The Investment Decisionmaking Process In Two Georgia Public Employee Retirement Plans
HRD-77-21: Published: Nov 30, 1976. Publicly Released: Nov 30, 1976.
The second in a series of seven case studies was performed of the Employees' Retirement System of Georgia and the Atlanta General Employees' Pension Plan. The Georgia plan is the second largest of five employee-administered state retirement plans with about 48,300 members and assets of about $355 million. The Atlanta plan is the largest of three plans for city employees with about 14,400 members a...