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.
In 2016, DOD and the military service branches began providing training to help servicemembers make informed decisions about the military’s new retirement system.
The training courses incorporated many effective financial literacy practices.
What GAO Found According to asset managers and industry associations with which GAO spoke, minority- and women-owned (MWO) asset managers face challenges when competing for investment management opportunities with institutional investors, such as retirement plans and foundations.
What GAO FoundThe Department of Defense (DOD) did not adequately implement key provisions of the Improper Payments Information Act of 2002 (IPIA) and the Improper Payments Elimination and Recovery Act of 2010 (IPERA) and Office of Management and Budget (OMB) requirements for fiscal year 2011.
The Department of Defense (DOD) plans to invest $109 billion in its tactical air forces between 2007 and 2013. Long term, DOD plans to replace aging legacy aircraft with fewer, more expensive but more capable and stealthy aircraft.
Almost 6,000 servicemembers died from October 2001 through September 2005. The Department of Defense (DOD), the Department of Veterans Affairs (VA), and the Social Security Administration (SSA) provide assistance to survivors of servicemembers who die on active duty.