Funds management (21 - 30 of 39 items)
Combined Fund Analysis
HEHS-95-230R: Published: Aug 7, 1995. Publicly Released: Sep 6, 1995.
Pursuant to a congressional request, GAO reviewed two studies of the United Mine Workers of America (UMWA) Combined Benefit Fund. GAO noted that: (1) the consultants' models projected widely differing financial results for the UMWA Combined Benefit Fund; (2) the models' expense estimates for 1995 differed by about $16 million; (3) one of the models underestimated the UMWA fund's 1995 net expenses...
GGD-95-200R: Published: Apr 3, 1995. Publicly Released: Apr 3, 1995.
Pursuant to a congressional request, GAO reviewed information on the funding status of the Civil Service Retirement System. GAO noted that: (1) the system's unfunded liability is not a problem that needs to be fixed to avoid a steep increase in outlays from the Treasury or increases in the deficit; and (2) there should be sufficient assets in the retirement fund to cover benefit payments to all cu...
D.C. Disability Retirement Rate
GGD-95-133: Published: Mar 31, 1995. Publicly Released: Mar 31, 1995.
Pursuant to a legislative requirement, GAO commented on the computed disability retirement rate for District of Columbia police officers and fire fighters.GAO found that: (1) 11 police officers hired before February 15, 1980, retired on disability in 1994; (2) the enrolled actuary determined that the disability retirement rate should be 0.554 percent; (3) the rate determination complied, in all ma...
District's Workforce: Annual Report Required by the District of Columbia Retirement Reform Act
GGD-94-64: Published: Mar 31, 1994. Publicly Released: Mar 31, 1994.
Pursuant to a legislative requirement, GAO commented on the computed disability retirement rate for District of Columbia police officers and fire fighters.GAO found that: (1) 15 police officers and 1 fire fighter hired before February 15, 1980 retired on disability in 1993; (2) the enrolled actuary determined that the disability retirement rate should be 0.737 percent; (3) the rate determination c...
Armed Forces Retirement Home
HRD-94-49R: Published: Nov 3, 1993. Publicly Released: Nov 3, 1993.
Pursuant to a congressional request, GAO reviewed the financing, operations, and management of the Armed Forces Retirement Home, focusing on: (1) the Home's analysis of its trust fund's status; and (2) allegations of funds mismanagement by senior staff at the Soldiers and Airmen's facility. GAO found that the Home: (1) has reasonably analyzed the trust fund's status; (2) estimates that the trust f...
Private Pensions: Most Underfunded Plan Sponsors Are Not Making Additional Contributions
T-HRD-93-16: Published: Apr 20, 1993. Publicly Released: Apr 20, 1993.
GAO discussed defined benefit pension plan funding issues. GAO noted that: (1) funding for underfunded plans is not improving, since the number of underfunded plans and the amount of underfunding increased from 1989 to 1991; (2) of 60 underfunded plans sampled, one-third are making additional contributions under an Internal Revenue Code provision, and the remaining plans do not make additional con...
Social Security: Analysis of a Proposal to Privatize Trust Fund Reserves
HRD-91-22: Published: Dec 12, 1990. Publicly Released: Jan 11, 1991.
Pursuant to a congressional request, GAO reviewed a congressional proposal to create a new system of Individual Social Security Retirement Accounts (ISSRA), in which workers could place accumulated social security reserves for private-sector investment.GAO found that: (1) the proposal's effect on national saving was unclear; (2) ISSRA could be integrated with the existing progressive benefit struc...
Social Security Funds: Additional Measures Could More Fully Indicate the System's Financial Condition
PEMD-88-11: Published: Feb 5, 1988. Publicly Released: Feb 5, 1988.
GAO developed actuarial measures that the Social Security Administration (SSA) could use to document the financial condition of the combined Old-Age Survivors and Disability Insurance (OASDI) Trust Fund.GAO found that: (1) the 1987 SSA trustees' report to Congress indicated that the OASDI Trust Fund was in close actuarial balance, since expenditures were within 5 percent of income averaged over th...
Implementation of the Federal Employees' Retirement System Act of 1986
T-GGD-87-10: Published: Mar 25, 1987. Publicly Released: Mar 25, 1987.
Pursuant to a congressional request, GAO testified on the implementation of the Federal Employees Retirement System Act of 1986 (FERS). GAO noted that three lead agencies set policy for investment and management of the thrift savings fund, administer the basic annuity portion of FERS, and serve as information sources for employees transferring to a new retirement system. GAO found that: (1) some a...
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...