Pension plan cost control (51 - 60 of 86 items)
Financial Audit: System and Control Problems Further Weaken the Pension Benefit Guaranty Fund
AFMD-92-1: Published: Nov 13, 1991. Publicly Released: Nov 13, 1991.
GAO reviewed the Pension Benefit Guaranty Corporation's (PBGC) fiscal year (FY) 1990 financial statements in accordance with the Government Corporation Control Act.GAO found that: (1) serious financial system deficiencies and internal control weaknesses prevent PBGC from preparing reliable financial statements and affect Congress' ability to assess whether PBGC premium levels are adequate to meet...
Defined Benefit Pensions: Hidden Liabilities From Underfunded Plans and Potential New Obligations Confront PBGC
T-HRD-92-6: Published: Oct 31, 1991. Publicly Released: Oct 31, 1991.
GAO discussed some of the financial problems facing the Pension Benefit Guaranty Corporation (PBGC), focusing on how hidden liabilities affect PBGC. GAO noted that: (1) the current threat to PBGC comes from a few seriously underfunded plans in industries experiencing financial troubles; (2) it is difficult to estimate future PBGC liabilities because of difficulties in predicting if or when underfu...
Private Pensions: Risks to Retirees Posed by Insurance Company Failures
T-HRD-91-23: Published: Apr 30, 1991. Publicly Released: Apr 30, 1991.
GAO discussed: (1) risks pensioners faced when their defined benefit plans purchased insurance annuities that are not federally insured; (2) how insurance industry problems affected participants in defined contribution plans; and (3) issues associated with extending federal guarantees to insurance annuitants. GAO noted that: (1) defined benefit plan pensioners whose plans purchased insurance annui...
Cost Accounting: Department of Energy's Management of Contractor Pension and Health Benefit Costs
AFMD-90-13: Published: Aug 29, 1990. Publicly Released: Aug 29, 1990.
Pursuant to a congressional request, GAO reviewed Department of Energy (DOE) policies and practices regarding the reimbursement of contractors for the costs of their employees' pension and retiree health plans.GAO found that: (1) DOE allowed contractors to establish the amount of their contributions to employee plans, as long as the contributions fell within the minimum and maximum guidelines set...
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...
Private Pensions: Portability and Preservation of Vested Pension Benefits
HRD-89-15BR: Published: Feb 3, 1989. Publicly Released: Feb 3, 1989.
In response to a congressional request, GAO assessed issues relating to the portability and preservation of private pension benefits, specifically: (1) whether job mobility adversely affected retirement income; (2) what kinds of portability and preservation arrangements existed and the extent to which they were used; and (3) the problems and tradeoffs involved in implementing proposals to enhance...
Pension Portability and Preservation: Issues and Proposals
T-HRD-88-24: Published: Jul 12, 1988. Publicly Released: Jul 12, 1988.
GAO examined pension portability and preservation for workers who have vested pension benefits, focusing on: (1) how job mobility affected workers' pension incomes in retirement; (2) types of portability and preservation arrangements; and (3) legislative proposals designed to enhance pension portability and preservation. GAO found that: (1) workers vested in a series of defined benefit plans could...
Pension Plans: Possible Effects of Requiring Employers To Make Contributions Sooner
HRD-88-28: Published: Oct 30, 1987. Publicly Released: Dec 1, 1987.
In response to a congressional request, GAO determined the effects of the administration's proposal to change the timing of employers' contributions to their single-employer pension benefit plans.GAO found that: (1) 64 percent of the 6,100 employers would have to change their contribution practices to meet the proposed requirements; (2) 50 percent said that the proposal would have a negative effec...
Vesting Status of Selected Participants in Top-Heavy Pension Plans
T-HRD-88-3: Published: Oct 23, 1987. Publicly Released: Oct 23, 1987.
Pursuant to a congressional request, GAO discussed the effect of replacing 1982 "top-heavy" pension plan vesting rules with those of the Tax Reform Act of 1986. After comparing the vesting status of 859 active participants in 128 top-heavy small-business pension plans, GAO noted that, if the plans had used the 1986 graded vesting schedule: (1) the proportion of nonvested women would have increased...