Employee retirements (1 - 10 of 82 items)
Private Pensions: Clarity of Required Reports and Disclosures Could Be Improved
GAO-14-92: Published: Nov 21, 2013. Publicly Released: Dec 17, 2013.
Sponsors of private sector pension plans are required to submit various reports to federal agencies and disclosures to participants depending on the plans' type, size, and circumstances. GAO identified more than 130 reports and disclosures stemming from provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA), and the Internal Revenue Code, as administered largely by t...
Private Pensions: Changes Needed to Provide 401(k) Plan Participants and the Department of Labor Better Information on Fees
GAO-07-21: Published: Nov 16, 2006. Publicly Released: Nov 30, 2006.
American workers are increasingly relying on 401(k) plans, which allow pre-tax contributions to individual accounts, for their retirement income. As workers accrue earnings on their investments, they also pay a number of fees that may significantly decrease their retirement savings. Because of concerns about the effects of fees on participants' retirement savings, GAO examined (1) the types of fee...
Pension Plans: Additional Transparency and Other Actions Needed in Connection with Proxy Voting
GAO-04-749: Published: Aug 10, 2004. Publicly Released: Sep 9, 2004.
In 1998, about 100 million Americans were covered in private pension plans with assets totaling about $4 trillion. The retirement security of plan participants can be affected by how certain issues are voted on during company stockholders meetings. Fiduciaries, having responsibility for voting on such issues on behalf of some plan participants (proxy voting), are to act solely in the interest of p...
Pension Benefit Guaranty Corporation: Single-Employer Pension Insurance Program Faces Significant Long-Term Risks
GAO-04-90: Published: Oct 29, 2003. Publicly Released: Oct 29, 2003.
More than 34 million participants in 30,000 single-employer defined benefit pension plans rely on a federal insurance program managed by the Pension Benefit Guaranty Corporation (PBGC) to protect their pension benefits, and the program's long-term financial viability is in doubt. Over the last decade, the program swung from a $3.6 billion accumulated deficit (liabilities exceeded assets), to a $10...
Federal Pensions: DOL Oversight and Thrift Savings Plan Accountability
GAO-03-400: Published: Apr 23, 2003. Publicly Released: May 15, 2003.
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees, governed by the Federal Retirement Thrift Investment Board (the TSP Board). Recent events relating to the TSP Board's contract to upgrade TSP's record keeping system have raised questions about the management of the TSP. In light of the TSP Board's actions relating to the record keeping system and the...
Answers to Key Questions about Private Pension Plans
GAO-02-745SP: Published: Sep 18, 2002. Publicly Released: Sep 18, 2002.
This primer on private pensions provides information on the basic features of the private pension plan system and the federal framework that governs how private plans must operate. GAO answers questions about the types of plans that private employers may sponsor, the benefits these plans provide, and the basic requirements that govern how these plans are administered...
Pension Benefit Guaranty Corporation: Contracting Management Needs Improvement
HEHS-00-130: Published: Sep 18, 2000. Publicly Released: Sep 21, 2000.
Pursuant to a congressional request, GAO reviewed the effectiveness of the Pension Benefit Guaranty Corporation's (PBGC) contracting activities, focusing on: (1) the basis for PBGC's decisions regarding the use of contractors versus government personnel to address its workloads; (2) PBGC's processes and procedures for selecting contractors; and (3) how effective PBGC has been in monitoring the per...
Improving Financial Condition of the Pension Benefit Guaranty Corporation and Insured Pension Plans
HEHS-99-37R: Published: Dec 18, 1998. Publicly Released: Dec 18, 1998.
Pursuant to a congressional request, GAO provided information on: (1) the Pension Benefit Guaranty Corporation's (PBGC) projections of its financial condition and assumptions used to prepare these projections; and (2) the funding status of the plans it insures and its strategy for investing its assets.GAO noted that: (1) PBGC uses different methodologies to forecast the financial condition of its...
Income Security Issue Area: Active Assignments
AA-97-11(2): Published: Apr 15, 1997. Publicly Released: Apr 15, 1997.
GAO provided information on its active assignments in the Income Security issue area as of April 15, 1997...
Public Pensions: State and Local Government Contributions to Underfunded Plans
HEHS-96-56: Published: Mar 14, 1996. Publicly Released: Apr 12, 1996.
Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments.GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion...