Private sector (11 - 19 of 19 items)
Private Pensions: Most Employers That Offer Pensions Use Defined Contribution Plans
GGD-97-1: Published: Oct 3, 1996. Publicly Released: Oct 3, 1996.
Pursuant to a congressional request, GAO provided information on the: (1) numbers and types of pension plans sponsored nationwide by private employers from 1984 to 1993; (2) proportions of total contributions made to these plans by employers and employees; (3) average administrative expense for these plans; and (4) reasons employers sponsor certain types of pension plans.GAO found that: (1) using...
HEHS-95-219R: Published: Aug 11, 1995. Publicly Released: Aug 23, 1995.
Pursuant to a congressional request, GAO provided information on the frequency and characteristics of cost-of-living adjustments (COLA) that retirees receive from public and private pension plans. GAO noted that: (1) Social Security and federal pension plans incorporate automatic, annual COLA; (2) over half the states reporting to the Bureau of Labor Statistics provide automatic COLA annually, gen...
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...
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...
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...
1980 Multiemployer Pension Amendments: Overview of Effects and Issues
HRD-86-4: Published: Feb 13, 1986. Publicly Released: Feb 13, 1986.
In response to a congressional request, GAO reported on: (1) changes in the Pension Plan Insurance Program's financial condition since the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) was enacted; (2) the act's initial effects on the program, plan participants, and contributing employers; and (3) possible effects of the act over the long term.GAO found that, at the time MPPAA was enac...
S. 1527, the Civil Service Pension Reform Act of 1985
127877: Sep 9, 1985
Testimony was given concerning a bill proposing a new retirement program for federal employees covered by social security. GAO noted that: (1) the proposed bill represented a comprehensive and thorough retirement program design; (2) many of the specific provisions of the pension plan portion of the proposed program were completely consistent with prevailing pension plans; and (3) age 62 is usually...
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...
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...