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Pension Plans: Government Data on Terminations With Excess Assets Should Be Improved

HRD-87-19 Published: Nov 12, 1986. Publicly Released: Nov 12, 1986.
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Highlights

In response to a congressional request, GAO reviewed Pension Benefit Guaranty Corporation (PBGC) data on the effects of pension plan terminations with excess assets on participants' pension coverage.

Recommendations

Recommendations for Executive Action

Agency Affected Recommendation Status
Pension Benefit Guaranty Corporation PBGC should improve the information it reports on spinoff terminations by showing how the pension coverage of working participants is affected after the spinoff.
Closed – Implemented
PBGC has taken action to improve its procedures for reporting on how spinoff terminations of plans with excess assets affect working participants' pension coverage.

Full Report

Full Report (12 pages)

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Topics

Retirement Security
AssetsCivil service pensionsFinancial institutionsInsuranceRetirement benefitsPension planRetireesEmployee retirementsHuman capital managementPension plan terminations