Employee retirements (11 - 20 of 53 items)
Pension Plans: Pension Benefit Guaranty Corporation Needs to Improve Premium Collections
HRD-92-103: Published: Jun 30, 1992. Publicly Released: Aug 11, 1992.
Pursuant to a congressional request, GAO reviewed the Pension Benefit Guaranty Corporation's (PBGC) efforts to collect pension plan premiums.GAO found that PBGC: (1) efforts to identify and collect delinquent premiums and underpaid premiums, interest, and penalties on premiums have been inadequate; (2) has infrequently issued and failed to follow up on past-due notices; (3) has not sent past-due n...
HRD-92-28R: Published: Mar 23, 1992. Publicly Released: Mar 30, 1992.
Pursuant to a congressional request, GAO provided information about the accuracy of premiums paid by pension plans to the Pension Benefit Guaranty Corporation (PBGC). GAO noted that: (1) 13 of the 24 plans it studied made premium calculation errors, with most errors involving the calculation of variable premiums; (2) the errors resulted in the plans underpaying their 1990 premiums by less than one...
Pension Plans: IRS Needs to Strengthen Its Enforcement Program
HRD-91-10: Published: Jul 2, 1991. Publicly Released: Aug 5, 1991.
Pursuant to a congressional request, GAO evaluated the effectiveness of the Internal Revenue Service's (IRS) Employee Retirement Income Security Act of 1974 (ERISA) enforcement program, focusing on recent changes that shifted resources from reviewing plan designs to examining plan activities.GAO found that: (1) in recent years, IRS spent most ERISA enforcement resources on reviewing and approving...
Pension Plans: Fiduciary Violations in Terminated Underfunded Plans
HRD-91-87: Published: May 13, 1991. Publicly Released: Jul 1, 1991.
Pursuant to a congressional request, GAO reviewed fund abuses in pension plans for which the Pension Benefit Guaranty Corporation (PBGC) assumed responsibility, focusing on: (1) the extent to which such abuses occurred; (2) whether PBGC identified the abuses; and (3) the adequacy of PBGC actions in pursuing legal remedies, including recovering misused funds.GAO found that: (1) fiduciaries' fund ab...
Cost Accounting: Department of Energy's Management of Contractor Pension and Health Benefit Costs
AFMD-90-13: Published: Aug 29, 1990. Publicly Released: Aug 29, 1990.
Pursuant to a congressional request, GAO reviewed Department of Energy (DOE) policies and practices regarding the reimbursement of contractors for the costs of their employees' pension and retiree health plans.GAO found that: (1) DOE allowed contractors to establish the amount of their contributions to employee plans, as long as the contributions fell within the minimum and maximum guidelines set...
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 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 Plan Participation in Leveraged Buyout Funds
T-HRD-89-5: Published: Feb 9, 1989. Publicly Released: Feb 9, 1989.
GAO discussed the role of pension funds in leveraged buyouts (LBO). GAO reviewed 4 plan sponsors and found that: (1) they invested $474 million in assets in 44 LBO; (2) they made their decisions after evaluating the LBO firms' reputations, experience, and track records; (3) generally, LBO fund investments are risky because their assets are committed for 10 or 12 years and cannot be traded on the o...
Pension Plans: Labor and IRS Enforcement of the Employee Retirement Income Security Act
HRD-89-32: Published: Jan 23, 1989. Publicly Released: Jan 23, 1989.
Pursuant to a congressional request, GAO reviewed the Department of Labor's (DOL) and the Internal Revenue Service's (IRS) efforts to enforce the Employee Retirement Income Security Act's pension plan provisions.GAO found that: (1) DOL closed 1,323 individual pension plan investigations in fiscal year (FY) 1987 and closed 718 during the first 8 months of FY 1988; (2) DOL closed investigations of 7...