[Comments on FRTIB Objections to GAO Recommendations]
B-260594: Published: Nov 29, 1995. Publicly Released: Nov 29, 1995.
- Full Report:
The Federal Retirement Thrift Investment Board reiterated its position that it lacked the legal authority to carry out a GAO recommendation that it provide information to federal employees on how Thrift Savings Plan investments interact with Federal Employees' Retirement System benefits. GAO noted that: (1) it fully complied with government auditing standards requiring it to give the Board the opportunity to comment on its draft report and to incorporate those comments in the final document; (2) the Board did have the legal authority to provide the information and was in a better position than the Office of Management and Budget to do so effectively; and (3) Congress could change the law to remove any doubt about the Board's legal authority.