GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
The Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) enforces the Employee Retirement Income Security Act of 1974 (ERISA), which sets certain minimum standards for private sector pension plans.
Information about the financial condition of defined benefit pension plans is provided in two sources: regulatory reports to the government and corporate financial statements. The two sources can often appear to provide contradictory information.
Pursuant to a congressional request, GAO reviewed the costs of administering individual social security accounts and their effect on account accumulations and benefits, focusing on: (1) the factors that influence administrative costs; (2) the estimates that are available for administrative costs associated...