Employee retirement plans (41 - 50 of 52 items)
The Underfunding of Single Employer Pension Plans
130198: Jun 24, 1986
In response to a congressional request, GAO provided information on private pension plan underfunding, specifically: (1) its extent and effects; (2) factors contributing to underfunding; (3) the potential of the Single Employer Pension Plan Amendments Act of 1986 to alleviate the effects of underfunded terminations; and (4) alternatives for controlling underfunding. GAO found that: (1) of the 14,5...
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...
Railroad Retirement: Size, Nature, and Funding Sources
HRD-86-73FS: Published: Mar 5, 1986. Publicly Released: Mar 5, 1986.
Pursuant to a congressional request, GAO reviewed the federal government's financial involvement in the railroad retirement and unemployment insurance programs.GAO found that: (1) the federal government provides half of the programs' annual revenues, which help pay for social-security-equivalent benefits; (2) windfall benefits to retirees who are entitled to railroad retirement and social security...
Proposals To Change the Military Retirement System
128624: Dec 5, 1985
GAO testified on the structure of the Department of Defense's (DOD) military retirement system, specifically: (1) the recent change to accrual accounting for retirement annuities; (2) DOD proposals to change the system; and (3) the accuracy of the estimated accrual savings that would result from enacting DOD proposals. GAO noted that: (1) unlike common private-sector practice, the receipt of socia...
Financial Conditions of Multiemployer Pension Plans Generally Improved From 1978 to 1980
HRD-85-72: Published: Jul 29, 1985. Publicly Released: Jul 29, 1985.
Pursuant to a congressional request, GAO studied the effects of the Multiemployer Pension Plan Amendments Act of 1980 and its provisions, including: (1) characteristics of the plan participants; (2) the plan's financial characteristics; and (3) indicators of the plan's financial condition.GAO collected comparable multiyear data on a sample of multiemployer plans and issued a series of reports on t...
Comparison of Retirement Benefits for W. R. Grace & Company and Civil Service Employees
OCG-84-1: Published: Jun 12, 1984. Publicly Released: Jul 2, 1984.
In response to a congressional request, GAO compared the retirement benefits offered by W. R. Grace & Company with the benefits available from the Federal civil service retirement system (CSRS).GAO obtained information from the firm on the age, length of service, and retirement benefits for the firm's employees who retired in 1983 and similar data from the Office of Personnel Management for civil...
Changes Needed in Calculation of Reduction in Civil Service Annuities for Survivor Benefits
FPCD-81-35: Published: Feb 26, 1981. Publicly Released: Feb 26, 1981.
GAO reviewed the method used by the Office of Personnel Management (OPM) to reduce the civil service annuities of retired federal employees who have elected survivor benefits for their spouses. Specifically, its objectives were to evaluate the OPM method of calculating the survivor benefit reduction when applying cost-of-living adjustments and to determine what the effects would be if the method w...
Comments on H.R. 3956
B-199061: Published: Jun 13, 1980. Publicly Released: Jun 13, 1980.
A Senator asked whether a retired former Foreign Service Officer, receiving government retirement benefits, would be obliged to forego these benefits if he accepted a post with a foreign government. Since the Foreign Service retirement he receives is administered by the Secretary of State, he would not forfeit these benefits whether or not congressional consent was received. The Foreign Service of...
Delays in Processing Civil Service Retirement Claims
112144: Apr 22, 1980
In a review of delays in processing civil service retirement claims, it was noted that the situation is worse today than ever before. In January 1978, the number of on-hand, uncompleted claims was about 57,000; the number is now nearly 90,000. The time required by the Office of Personnel Management (OPM) to process claims has increased from an average of 45 to 95 days. One of the reasons for proce...
An Actuarial and Economic Analysis of State and Local Government Pension Plans
PAD-80-1: Published: Feb 26, 1980. Publicly Released: Feb 26, 1980.
A study of future economic problems is being directed by the Joint Economic Committee. The goal of the study is to obtain more accurate estimates of future outlays from pension plans and the potential effect of these outlays on the Nation's economic resources. The main focus of the study was projecting the cost to State and local government pension plans of future benefit payout. To place benefit...