Employee benefit plans (51 - 60 of 75 items)
Pension Plans: Benefits Lost When Plans Terminate
T-HRD-92-58: Published: Sep 24, 1992. Publicly Released: Sep 24, 1992.
GAO discussed how pension plan termination affects plan participants. GAO noted that: (1) despite federal insurance protections, participants in underfunded plans that terminate risk losing promised benefits; (2) although the Pension Benefit Guaranty Corporation (PBGC) guarantees certain basic pension benefits, it does not guarantee all benefits that plans promise; (3) PBGC will pay benefits that...
Pension Plans: IRS Needs to Strengthen Its Enforcement Program
HRD-91-10: Published: Jul 2, 1991. Publicly Released: Aug 5, 1991.
Pursuant to a congressional request, GAO evaluated the effectiveness of the Internal Revenue Service's (IRS) Employee Retirement Income Security Act of 1974 (ERISA) enforcement program, focusing on recent changes that shifted resources from reviewing plan designs to examining plan activities.GAO found that: (1) in recent years, IRS spent most ERISA enforcement resources on reviewing and approving...
Workers At Risk: Increased Numbers in Contingent Employment Lack Insurance, Other Benefits
HRD-91-56: Published: Mar 8, 1991. Publicly Released: Mar 8, 1991.
Pursuant to a congressional request, GAO analyzed Bureau of the Census, Bureau of Labor Statistics (BLS), and Internal Revenue Service (IRS) data concerning the contingent or nontraditional work force, which includes self-employed, part-time, and leased employees.GAO found that: (1) the number of nontraditional workers should continue to grow over the next several years due to employer and worker...
Pension Plans: Terminations, Asset Reversions, and Replacements Following Leveraged Buyouts
HRD-91-21: Published: Mar 4, 1991. Publicly Released: Mar 4, 1991.
Pursuant to a congressional request, GAO reviewed what happened to the 558 defined pension plans of 121 public companies acquired in leveraged buyouts (LBO).GAO found that: (1) 20 percent of the defined benefit plans sponsored by the companies were terminated after LBO; (2) the most common reasons for plan terminations included adopting a new plan and the sale of a plant or division; (3) 99 percen...
Private Pensions: Impact of New Vesting Rules Similar for Women and Men
HRD-90-101: Published: Aug 21, 1990. Publicly Released: Aug 21, 1990.
Pursuant to a legislative requirement, GAO reviewed the impact of the Tax Reform Act of 1986 provisions that changed vesting requirements for participants in private pension plans, focusing on the: (1) proportion of women and men vested under the old and new rules; and (2) changes in vested benefits due to the act.GAO found that: (1) the provisions improved employees' vesting status and had a simi...
Federal Government's Oversight of Pension and Welfare Funds
T-HRD-90-37: Published: Jun 13, 1990. Publicly Released: Jun 13, 1990.
GAO discussed the effectiveness of federal oversight of employee benefit plans' compliance with the Employee Retirement Income Security Act of 1974 (ERISA), and the government's potential exposure to underfunded pension plans insured by Pension Benefit Guaranty Corporation (PBGC). GAO found that: (1) the Internal Revenue Service (IRS) increased its examinations of plan operations; (2) the Departme...
Pension Plans: Effect of the 1987 Stock Market Decline on Selected Large Plans
HRD-88-128BR: Published: Sep 26, 1988. Publicly Released: Sep 26, 1988.
In response to a congressional request, GAO reviewed the effects of the October 1987 stock market decline on selected pension plans with large amounts of assets, specifically the: (1) relationship between the proportion of funds invested in stock and the changes in the plans' asset values; and (2) effect on defined-benefit and defined-contribution plans.GAO found that: (1) the combined asset value...
401(k) Plans: Incidence, Provisions, and Benefits
PEMD-88-15BR: Published: Mar 29, 1988. Publicly Released: Apr 29, 1988.
In response to a congressional request, GAO provided information on employer-sponsored retirement savings plans as provided for under section 401(k) of the Internal Revenue Code, specifically the: (1) incidence of 401(k) plans and their relationships to other plans; (2) variations in plan provisions and experiences across firms; (3) extent to which plans benefit employees at various salary levels;...
[Comments on Proposed Change to FAR]
B-226325,B-226369,B-226370: Published: Apr 10, 1987. Publicly Released: Apr 10, 1987.
GAO commented on proposed amendments to the Federal Acquisition Regulation (FAR) which would: (1) restrict FAR coverage of qualification requirements to those requirements the federal government imposed; (2) clarify the definition of special test equipment; and (3) provide rules to determine the federal government's share of any adjustments of pension costs that occurred as a result of pension pla...
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...