Employee retirement plans (21 - 30 of 45 items)
District's Pensions: Billions of Dollars in Liability Not Funded
HRD-93-32: Published: Nov 30, 1992. Publicly Released: Nov 30, 1992.
Pursuant to a congressional request, GAO reviewed the growth of the District of Columbia's unfunded pension liability, focusing on: (1) how the District's retirement plans compare with other municipal retirement plans; and (2) the impact of U.S. Secret Service personnel on the District's pension liability.GAO found that: (1) in 1979, Congress transferred responsibility for $2 billion in unfunded p...
Employee Stock Ownership Plans: Participants' Benefits Generally Increased, but Many Plans Terminated
HRD-91-28: Published: Dec 10, 1990. Publicly Released: Dec 21, 1990.
Pursuant to a congressional request, GAO provided information on the benefits participants received from employee stock ownership plans (ESOP), focusing on: (1) the value of ESOP participants' accounts; (2) the amount of company stock that participants received; and (3) how companies allocated benefits among participants.GAO found that: (1) ESOP value was tied to the performance of the sponsoring...
Pension Plans: Public Plans in Four States Have Generally Similar Policies and Practices
HRD-90-133: Published: Jul 24, 1990. Publicly Released: Aug 27, 1990.
Pursuant to a congressional request, GAO provided information on public pension plans in four states.GAO found that: (1) boards of trustees and their staffs administer public pension plans; (2) each board establishes policy and appoints a chief administrative officer responsible for hiring and overseeing the staff that carries out the plan's daily operations; (3) two plans have a single board and...
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...
Pension Plan Terminations: Effectiveness of Excise Tax in Recovering Tax Benefits in Asset Reversions
HRD-90-126: Published: Jul 13, 1990. Publicly Released: Jul 13, 1990.
Pursuant to a congressional request, GAO evaluated the 15-percent excise tax levied on employers who recover excess pension assets by terminating overfunded pension plans, which is known as asset reversion.GAO found that: (1) 15-percent excise taxes failed to fully recapture tax benefits from any asset reversions; (2) the excise tax rate sufficient to offset tax benefits ranged from 17 to 59 perce...
Private Pensions: Impact of Vesting and Minimum Benefit and Contribution Rules in Top-Heavy Plans
HRD-90-4BR: Published: Oct 23, 1989. Publicly Released: Oct 23, 1989.
Pursuant to a congressional request, GAO provided information about tax reform legislation's effects on the vesting status of participants in top-heavy pension plans, in which more than 60 percent of benefits or contributions go to company owners or other key employees.GAO found that tax reform legislation established a maximum 3- to 6-year waiting period for vesting in top-heavy pension plans and...
Leveraged Buy-Out Funds: Investments by Selected Pension Plans
HRD-89-121: Published: Aug 1, 1989. Publicly Released: Aug 1, 1989.
Pursuant to a congressional request, GAO reviewed the role of private and public pension funds in leveraged buy-outs (LBO), focusing on the: (1) methods pension plans used to evaluate LBO-funded investments; (2) principal provisions of LBO-fund limited-partnership agreements; (3) rate of return pension plans obtained on LBO-fund investments; and (4) Department of Labor's oversight of pension plan...
Pension Plans and Leveraged Buy-Outs
T-HRD-89-20: Published: Apr 27, 1989. Publicly Released: Apr 27, 1989.
GAO discussed its work on the role of pension plans in leveraged buy-outs (LBO), focusing on the: (1) incidence of pension plan terminations by companies taken over in LBO; (2) extent of pension plan investments in LBO; and (3) risks of investing pension plan assets in LBO. GAO found that: (1) 40 percent of the companies it reviewed terminated pension plans with a total of about $1.8 billion in as...
Effect of the 1987 Stock Market Decline on Selected Large Pension Plans
T-HRD-88-21: Published: Jul 12, 1988. Publicly Released: Jul 12, 1988.
Pursuant to a congressional request, GAO reviewed the 1987 investments of large pension plans to determine: (1) how the 1987 stock market decline affected plan assets; (2) whether there was a relationship between the proportion of funds invested in stock and changes in asset values; and (3) how defined-benefit and defined-contribution plans fared during the market decline. GAO found that: (1) alth...
Department of Labor: Pension Plans and Corporate Takeovers
HRD-88-58: Published: Mar 31, 1988. Publicly Released: May 20, 1988.
Pursuant to a congressional request, GAO reviewed the Department of Labor's (DOL) enforcement efforts concerning the potential misuse of pension plans in corporate takeovers.GAO found that DOL: (1) delegated responsibility for enforcing Employment Retirement Income Security Act standards to its Pension and Welfare Benefits Administration (PWBA); (2) informally learned of takeover transactions from...