Employee benefit plans (61 - 70 of 75 items)
Pension Plans: Termination of Plans With Excess Assets
HRD-86-89BR: Published: Apr 30, 1986. Publicly Released: May 30, 1986.
In response to a congressional request, GAO reported on defined benefit pension plan terminations involving the reversion of excess plan assets to employers.GAO found that: (1) a higher-than-expected rate of return on investments was most often cited as the reason plans had excess assets at termination; (2) changes in corporate structure and employers' desire to use excess plan assets for non-pens...
Initial Results of a Survey on Employee Stock Ownership Plans and Information on Related Economic Trends
PEMD-85-11: Published: Sep 30, 1985. Publicly Released: Sep 30, 1985.
In response to a congressional request, GAO reported on a study it is conducting to determine whether the employee stock ownership plans (ESOP) program is meeting its goals of: (1) broadening ownership of corporate stock; (2) providing more funds for capital formation; and (3) improving the performance of sponsoring corporations.GAO found that: (1) the percentage of families owning stock increased...
Effects of Liabilities Assessed Employers Withdrawing From Multiemployer Pension Plans
HRD-85-16: Published: Mar 14, 1985. Publicly Released: Mar 14, 1985.
GAO reviewed the implementation and effects of the withdrawal liability provisions of the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) on those multiemployer plans not covered by the special rules or exemptions that apply mainly to construction and entertainment industry plans.The Pension Benefit Guaranty Corporation (PBGC) administers an insurance program for private pension plans an...
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...
Concerns About Controlling Union Employees' Benefit Funds by the Carpenters Collection Agency, Youngstown, OH
HRD-83-8: Published: Nov 12, 1982. Publicly Released: Nov 22, 1982.
GAO was asked to examine: (1) the legality and functions of the Carpenters Central Collection and Administrative Agency (CCA), a nonprofit Ohio corporation that collects fringe benefit contributions from building trade employees; and (2) the timeliness and effectiveness of the Department of Labor's investigation and reporting of CCA activities.GAO found that Labor did not take aggressive action to...
Review of Pension and Fringe Benefits for Contractors' Employees at NASA's Marshall Space Flight Center
HRD-81-142: Published: Sep 28, 1981. Publicly Released: Dec 16, 1981.
In response to a congressional request, GAO reviewed allegations made by a professional employee contracted by the National Aeronautics and Space Administration (NASA). NASA had recently recompeted a professional service contract and made the award to a different company. GAO was to determine if the professional employees involved had: (1) received salary and fringe benefits less than those paid b...
Employer Stock Ownership Plans: Who Benefits Most in Closely Held Companies?
HRD-80-88: Published: Jun 20, 1980. Publicly Released: Jun 30, 1980.
The Employee Retirement Income Security Act of 1974 (ERISA) requires that Employee Stock Ownership Plans (ESOP) be established and operated exclusively for the benefit of participants and their beneficiaries. Additionally, ERISA (1) defines an ESOP as a stock bonus plan or a stock bonus and money purchase plan that meets the qualification requirements of the Internal Revenue Service; and (2) provi...
Efforts To Implement the Employee Retirement Income Security Act of 1974 by the Department of Labor
HRD-77-99: Published: Jul 6, 1977. Publicly Released: Jul 6, 1977.
Members of congressional committees, Department of Labor officials, and employee benefit plan administrators are concerned about problems Labor has experienced in administering the Employee Retirement Income Security Act of 1974, the first comprehensive Federal law regulating employee benefits. Specific concern has been expressed about delays in issuing regulations and acting on requests for exemp...
Contractor Pension Plan Costs: More Control Could Save Department of Defense Millions
PSAD-77-100: Published: May 19, 1977. Publicly Released: May 19, 1977.
The government incurred pension plan costs that were inequitable and too high because the Department of Defense (DOD) permitted actuarial assumptions or unjustified changes in actuarial cost methods.Government controls and surveillance over contractors' pension plan practices were not adequate considering the costs involved. Establishing effective controls and surveillance over these practices cou...
The Investment Decisionmaking Process in Two Colorado Public Employee Retirement Plans
HRD-77-30: Published: Dec 29, 1976. Publicly Released: Dec 29, 1976.
Case studies on the Public Employees' Retirement Association (PERA) of Colorado and the Denver Public School Employees' Pension and Benefit Association (DPSEPBA), give details of the framework for managing investments, investment experience, and detailed financial statements. Information on the decisionmaking process was gathered from summary data and interviews with cognizant officials.PERA had f...