Pension Benefit Guaranty Corporation: More Strategic Approach Needed for Processing Complex Plans Prone to Delays and Overpayments
Author:
Publisher: DIANE Publishing
Published:
Total Pages: 91
ISBN-13: 1437923933
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Pension Benefit Guaranty Corporation
Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
Published: 2018-02-03
Total Pages: 92
ISBN-13: 9781984160935
DOWNLOAD EBOOKPension Benefit Guaranty Corporation: More Strategic Approach Needed for Processing Complex Plans Prone to Delays and Overpayments
Pension Benefit Guaranty Corporation
Author: U S Government Accountability Office (G
Publisher: BiblioGov
Published: 2013-06
Total Pages: 94
ISBN-13: 9781289060039
DOWNLOAD EBOOKThe U.S. Government Accountability Office (GAO) is an independent agency that works for Congress. The GAO watches over Congress, and investigates how the federal government spends taxpayers dollars. The Comptroller General of the United States is the leader of the GAO, and is appointed to a 15-year term by the U.S. President. The GAO wants to support Congress, while at the same time doing right by the citizens of the United States. They audit, investigate, perform analyses, issue legal decisions and report anything that the government is doing. This is one of their reports.
Pension Benefit Guaranty Corporation
Author: United States. Government Accountability Office
Publisher:
Published: 2009
Total Pages: 85
ISBN-13:
DOWNLOAD EBOOKPension Benefit Guaranty Corporation
Author: U S Government Accountability Office (G
Publisher: BiblioGov
Published: 2013-06
Total Pages: 22
ISBN-13: 9781289062941
DOWNLOAD EBOOKUnder the single-employer insurance program, the Pension Benefit Guaranty Corporation (PBGC) may become the trustee of underfunded plans that are terminated and assume responsibility for paying benefits to participants as they become due, up to certain legal limits. From its inception in 1974 through the end of fiscal year 2008, PBGC has terminated and trusteed a total of 3,860 single-employer plans covering some 1.2 million workers and retirees. Since 2008, the economic downturn has brought a new influx of pension plan terminations to PBGC, and more are expected to follow. The committee asked GAO to discuss our recent work on PBGC. Specifically, this testimony describes: (1) PBGC's process for determining the amount of benefits to be paid; and (2) PBGC's recoupment process when the estimated benefit provided is too high and a retiree receives an overpayment that must be repaid. To address these objectives, GAO relied primarily on a recent report titled Pension Benefit Guaranty Corporation: More Strategic Approach Needed for Processing Complex Plans Prone to Delays and Overpayments (GAO-09-716 Aug. 2009). In that report, GAO made numerous recommendations. PBGC generally agreed and is taking steps to address the concerns raised. No new recommendations are being made in this testimony.
Pension Benefit Guaranty Corporation: Improvements Needed to Strengthen Governance Structure and Strategic Management: Testimony Before Committee on Health, Education, Labor, and Pensions, U.S. Senate
Author:
Publisher: DIANE Publishing
Published:
Total Pages: 22
ISBN-13: 1437943713
DOWNLOAD EBOOKPension Benefit Guaranty Corporation
Author: Barbara D. Bovbjerg
Publisher: DIANE Publishing
Published: 2009-03
Total Pages: 45
ISBN-13: 1437909914
DOWNLOAD EBOOKThe Pension Benefit Guaranty Corp. (PBGC) insures the pensions of more than 44 million workers in over 30,000 employer-sponsored defined benefit pension plans. In response to growing workloads, PBGC has come to rely heavily on contractors to conduct its work. This is a report on: (1) the role that contracting plays in PBGC¿s efforts to accomplish its mission; (2) the steps PBGC has taken to improve its acquisition infrastructure and develop a strategic approach to guide its contracting activities; and (3) the steps PBGC has taken to improve its contact oversight processes to ensure accountability. Includes recommendations. Charts and tables.
Pensions in Peril
Author: United States. Congress. Senate. Committee on Health, Education, Labor, and Pensions
Publisher:
Published: 2011
Total Pages: 120
ISBN-13:
DOWNLOAD EBOOKPension Benefit Guaranty Corporation: Workers and Retirees Experience Delays and Uncertainty When Underfunded Plans are Terminated
Author: Barbara D. Bovbjerg
Publisher: DIANE Publishing
Published: 2010-11
Total Pages: 18
ISBN-13: 1437925049
DOWNLOAD EBOOKUnder the single-employer insur. program, the Pension Benefit Guaranty Corp. (PBGC) may become the trustee of underfunded plans that are terminated and assume responsibility for paying benefits to participants as they become due, up to certain legal limits. From its inception in 1974 through the end of FY 2008, PBGC has terminated and trusteed 3,860 single-employer plans covering 1.2 million workers and retirees. Since 2008, the economic downturn has brought a new influx of pension plan terminations. This testimony describes: (1) PBGC's process for determining the amount of benefits to be paid; and (2) PBGC's recoupment process when the estimated benefit provided is too high and a retiree receives an overpayment that must be repaid.
Pension Benefit Guaranty Corporation
Author: Barbara D. Bovbjerg
Publisher: DIANE Publishing
Published: 2009-02
Total Pages: 60
ISBN-13: 143790789X
DOWNLOAD EBOOKThe Pension Benefit Guaranty Corp. (PBGC) employs 800 fed. employees and uses 1,500 private sector employees to insure the pensions of millions of private sector workers and retirees in certain employer-sponsored pension plans. In recent years, PBGC¿s projected financial liabilities and workloads have increased greatly due to a large no. of pension plan terminations. Given this, it is important that PBGC remain well positioned to fulfill its promise to those retirees who depend on it. This is a report on: PBGC¿s recent experience in hiring and retaining key staff and how it compared to other fed. agencies; and the actions PBGC has taken to hire and retain key staff and what additional steps, if any, can be taken. Includes recommend. Illustrations.
