Retirement benefits (21 - 29 of 29 items)
Pensions: Plans With Unfunded Benefits
HRD-87-15BR: Published: Oct 22, 1986. Publicly Released: Oct 22, 1986.
In response to a congressional request, GAO provided information on: (1) the extent to which single-employer defined-benefit pension plans are underfunded; and (2) the effect that underfunded plan terminations have had on the government insurance program's financial viability.GAO found that: (1) 3,351 of the 14,581 plans were underfunded by about $21 billion, while the other plans had assets that...
Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits
HRD-85-58: Published: Jun 14, 1985. Publicly Released: Jun 14, 1985.
Pursuant to the requirements of the Multiemployer Pension Plan Amendments Act, GAO studied the effects of plan terminations and benefits changes on plan participants.GAO found that: (1) while plan terminations increased from 27 in the 6 years before the act to 66 in the 4 years after, such terminations affected less than 1 percent of total plan participants nationwide; (2) the act was cited as a r...
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...
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 Unisex Pensions
122598: Oct 4, 1983
In response to a congressional request, testimony was presented on the economic impact of the proposed Fair Insurance Practices Act. GAO found that, in many cases, it is impossible to say what the consequences of the bill will be, since they will depend on the adjustments that insurance companies, pension plan sponsors, and state insurance regulators make in response to the bill. The bill requires...
Common Misconceptions About Pension Plans
118595: Jan 1, 1982
This article, which appeared in the GAO Review, Vol. 17, Issue 2, Spring 1982, discusses several misconceptions about pension plans. There are a variety of acceptable actuarial assumptions, methods, and different maintenance periods to assess pension liabilities. Various methods other than the accrued benefit actuarial cost method may be used to express pension plan costs. Economic assumptions app...
An Actuarial and Economic Analysis of State and Local Government Pension Plans
PAD-80-1: Published: Feb 26, 1980. Publicly Released: Feb 26, 1980.
A study of future economic problems is being directed by the Joint Economic Committee. The goal of the study is to obtain more accurate estimates of future outlays from pension plans and the potential effect of these outlays on the Nation's economic resources. The main focus of the study was projecting the cost to State and local government pension plans of future benefit payout. To place benefit...
Funding of State and Local Government Pension Plans: A National Problem
HRD-79-66: Published: Aug 30, 1979. Publicly Released: Aug 30, 1979.
Congress is considering establishing federal standards for state and local government pension plans similar to those imposed on private plans by the Employee Retirement Income Security Act of 1974. The act generally provides that the minimum standard for pension funding by private employers be an annual contribution for normal costs plus the amount needed to amortize current unfunded liabilities i...
Review of RCA Retirement Benefits Questioned by Terminated Employee
PSAD-78-116: Published: May 26, 1978. Publicly Released: May 26, 1978.
A terminated employee questioned the manner in which the RCA Corporation administered and implemented its employees' retirement plan. Aaron alleged that RCA committed fraud by pocketing Government-reimbursed employer contributions to the retirement fund and that employees were not receiving applicable benefits under the company's retirement plan. The employee, who worked on Government contracts du...