Retirement income (11 - 18 of 18 items)
401(k) Pension Plans: Many Take Advantage of Opportunity to Ensure Adequate Retirement Income
HEHS-96-176: Published: Aug 2, 1996. Publicly Released: Aug 2, 1996.
Pursuant to a congressional request, GAO provided information on 401(k) pension plans, focusing on: (1) the proportion of workers covered by 401(k) pension plans; (2) workers' contributions to their 401(k) pension plans; and (3) how workers invest their pension account balances.GAO found that: (1) half of all workers and nearly two-thirds of workers nearing retirement age are covered by a pension...
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...
Providing Periodic Personal Earnings and Benefit Statements to Workers Covered by Social Security
T-HRD-88-25: Published: Jul 14, 1988. Publicly Released: Jul 14, 1988.
GAO discussed requiring the Social Security Administration (SSA) to provide periodic personal earnings and benefit statements to workers covered by social security. GAO found that: (1) 70 percent of the 25 million workers in defined benefit pension plans lacked knowledge of their eligibility for early or normal retirement; (2) from 1978 through 1984, SSA recorded $58.8 billion less in earnings tha...
Allocation of an Air Force Contractor's Pension Fund Assets May Be Inequitable
HRD-81-152: Published: Sep 23, 1981. Publicly Released: Sep 23, 1981.
The Air Force has contracted for services at the Eastern Test Range, Cape Canaveral, with Pan American World Airways for over 25 years. Pan American provided pension benefits for its employees through its Cooperative Retirement Income Plan and is reimbursed by the Government for contributions to the plan for employees working on the Eastern Test Range contract.During a review of contractors' compl...
Internal Revenue Service Efforts and Plans To Enforce the Employee Retirement Income Security Act
HRD-79-55: Published: Mar 28, 1979. Publicly Released: Mar 28, 1979.
Efforts to enforce the provisions of the Employee Retirement Income Security Act (ERISA) by the Internal Revenue Service (IRS) were reviewed.Since the enactment of ERISA, IRS has spent most of its field enforcement effort on determining whether plan provisions comply with ERISA requirements. Weaknesses in the determination process may result in pension plans being approved and operated which do no...
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...