Pension Plans:

Public Plans in Four States Have Generally Similar Policies and Practices

HRD-90-133: Published: Jul 24, 1990. Publicly Released: Aug 27, 1990.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO provided information on public pension plans in four states.

GAO found that: (1) boards of trustees and their staffs administer public pension plans; (2) each board establishes policy and appoints a chief administrative officer responsible for hiring and overseeing the staff that carries out the plan's daily operations; (3) two plans have a single board and staff responsible for all aspects of plan administration, and the other two plans have two separate boards and staff; (4) plan fiduciaries include both individuals responsible for overall administration and those involved with daily investment activities; (5) the plans are funded on actuarial bases by annual employee and employer contributions as determined by the boards; (6) the boards of trustees establish investment parameters; (7) all the plans' investment policies tend to reflect similar concerns, such as the inflation rate; (8) only one plan's investment is limited by state law, and another state encourages its plan to invest some funds locally; and (9) all plans report annually to the governors and legislatures and provide reports to plan participants on the status of the participants' individual accounts.

Oct 29, 2015

Oct 27, 2015

  • retirement icon, source: PhotoDisc

    Social Security's Future:

    Answers to Key Questions
    GAO-16-75SP: Published: Oct 27, 2015. Publicly Released: Oct 27, 2015.

Sep 30, 2015

Sep 29, 2015

Sep 4, 2015

Jun 15, 2015

Jun 2, 2015

May 1, 2015

Feb 26, 2015

Dec 22, 2014

Looking for more? Browse all our products here