Allocation of an Air Force Contractor's Pension Fund Assets May Be Inequitable
HRD-81-152
Published: Sep 23, 1981. Publicly Released: Sep 23, 1981.
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Highlights
The Air Force has contracted for services at the Eastern Test Range, Cape Canaveral, with Pan American World Airways for over 25 years. Pan American provided pension benefits for its employees through its Cooperative Retirement Income Plan and is reimbursed by the Government for contributions to the plan for employees working on the Eastern Test Range contract.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Department of the Air Force | The Secretary of the Air Force should ensure that the distribution of assets among the Cooperative Retirement Income Plan (CRIP) and the various CRIP/Aerospace Services Division projects is equitable and timely. The net contribution method should be used for determining what Aerospace Services Division/CRIP projects' assets should be for years before 1969, as well as for 1969 and later years. |
Please call 202/512-6100 for additional information.
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Topics
Air Force procurementContractor personnelCost accounting standards complianceDepartment of Defense contractorsEmployee dismissalFinancial managementFraudPension plan cost controlPensionsService contracts