Employee retirements (31 - 40 of 53 items)
The 1980 Multiemployer Pension Plan Amendments Act: An Assessment of Funding Requirement Changes
HRD-85-1: Published: Feb 27, 1985. Publicly Released: Feb 27, 1985.
GAO reported on the effect of the Multiemployer Pension Plan Amendments Act of 1980 on employers, participants, and others, and it assessed the effect of the act's changes in multiemployer plan funding requirements.GAO found that 14 of 149 plans it examined were financially distressed and could pose a risk to the government's insurance program amounting to billions of dollars. The act's provisions...
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...
Economic Implications of the Fair Insurance Practices Act
OCE-84-1: Published: Apr 6, 1984. Publicly Released: Apr 6, 1984.
In response to a congressional request, GAO reviewed the economic implications of the proposed Fair Insurance Practices Act. Specifically, GAO reviewed: (1) how cost considerations vary by type of insurance; and (2) the effect that unfunded liabilities in pension plans would have on the ability of pension plans to meet the minimum funding requirements of the Employee Retirement Income Security Act...
Premium Requirements of the Single Employer Pension Plan Insurance Program
123666: Mar 20, 1984
GAO discussed the Pension Benefit Guaranty Corporation's request for a $7 premium rate for its single employer pension plan insurance program. The Corporation was established to administer a self-financing program which insures the benefits of about 29 million participants in 106,000 private pension plans. GAO revised its suggested premium rate for the program upward to $8.50 which it believes may...
Legislative Changes Needed To Financially Strengthen Single Employer Pension Plan Insurance Program
HRD-84-5: Published: Nov 14, 1983. Publicly Released: Nov 14, 1983.
In connection with the Pension Benefit Guaranty Corporation's (PBGC) self-financing insurance program to protect the benefits of private pension plan participants, GAO examined information on pension plans which were terminated as of September 30, 1981.Since its inception, the PBGC insurance program has been operating at an increasing deficit. The deficit has risen because net claims for benefits...
Investigation To Reform Teamsters' Central States Pension Fund Found Inadequate
HRD-82-13: Published: Apr 28, 1982. Publicly Released: Jun 3, 1982.
For many years, the Teamster's Pension Fund trustees have been the subject of allegations of misuse of the Fund's assets. Therefore, the Department of Labor initiated an investigation of the Fund and, in response to a congressional request, GAO reviewed the Government's investigation.Labor's objective of having a Government-wide coordinated investigation did not succeed because the Internal Revenu...
Tax Revenues Lost and Beneficiaries Inadequately Protected When Private Pension Plans Terminate
HRD-81-117: Published: Sep 30, 1981. Publicly Released: Sep 30, 1981.
In response to a congressional request, GAO reviewed the effectiveness of the practices and procedures of: (1) the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC) for ensuring that pension plan terminations are reported; (2) IRS for processing plan terminations; and (3) IRS for ensuring compliance with income tax requirements by individuals receiving pension bene...
Funding of State and Local Government Pension Plans
112161: Apr 21, 1980
Congress has long been concerned about the condition of State and local government pension plans. Almost all public pension plans have unfunded accrued liabilities and will continue to have such liabilities for many years. To investigate the potential financial impact of pension funding reform, the funding of 72 pension plans administered by 8 States and 26 local governments within those States we...
Comments on Funding of State and Local Government Pension Plans: A National Problem
112087: Apr 16, 1980
Comments were provided on a study concerning the funding of State and local government pension plans. The criteria used in the study for analyzing the selected State and local plans was the Employee Retirement Income Security Act (ERISA) standard for funding private plans. While reviewing the plans, GAO found that State and local officials are generally aware of the need for sound actuarial fundin...