Pension Benefit Guaranty Corporation: Financial Condition Improving, but Long-Term Risks Remain

Pursuant to a congressional request, GAO reviewed the long-term financial viability of the pension insurance programs, focusing on: (1) the financial condition of the insurance programs and trends in the plans they insure; (2) the impact the Retirement Protection Act of 1994 has had on the financial condition of the Pension Benefit Guaranty Corporation (PBGC) and insured plans; (3) risks to PBGC's solvency; (4) PBGC's efforts to forecast its future financial condition; and (5) PBGC's efforts to improve administration of the programs.