Investments (11 - 17 of 17 items)
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...
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...
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...
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...