Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 32
Book Description
Examination of Financial Statements of the Pension Benefit Guaranty Corporation
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 32
Book Description
Examination of Financial Statements of the Pension Benefit Guaranty Corporation for the Fiscal Year Ended September 30, 1977
Author: United States Accounting Office (GAO)Publisher: Createspace Independent Publishing Platform
ISBN: 9781721592005
Category :
Languages : en
Pages : 30
Book Description
Examination of Financial Statements of the Pension Benefit Guaranty Corporation for the Fiscal Year Ended September 30, 1977
Auditing and Financial Management
Author: U S Government Accountability Office (GPublisher: BiblioGov
ISBN: 9781289150082
Category :
Languages : en
Pages : 34
Book Description
The financial statements of the Pension Benefit Guaranty Corporation (PBGC) were examined for the fiscal year (FY) ending September 30, 1977. PBGC administers the insurance programs that guarantee certain benefits will be paid to participants of defined benefit pension plans in the event the plans terminate without sufficient assets to provide benefits. GAO could not verify that PBGC financial statements present fairly the financial position of PBGC. Various procedural and accounting problems and material uncertainties in the collection of receivables were noted. PBGC estimated a liability receivable from employers of $35.4 million as of September 30, 1977; the collectibility of this liability, however, is questionable because PBGC estimating methodology may not be accurate and some employers of terminated plans are in bankruptcy or out of business. Also, PBGC ability to collect employer liability, under certain circumstances, has been challenged in the courts. PBGC estimated liability for future benefits was $209 million, but it is not certain whether the reported amount presents fairly this liability, since 88 percent of the amount is estimated. The actual amount of unearned premiums, reported as $7.6 million for FY 1977, cannot be validated. GAO was not able to substantiate about $8.5 million of the $13 million in reported total benefit payments that were paid. A PBGC study identifed many premium billing and collection system weaknesses, ranging from duplicate premium filings or no filings to computer entry errors. PBGC reported a deficit of $95.3 million as of September 30, 1977, which was a $54.3 million increase over the previous FY for the single employer program.
Examination of Financial Statements of the Pension Benefit Guaranty Corporation
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 16
Book Description
Examination of Financial Statements, Pension Benefit Guaranty Corporation, Fiscal Year 1977. Communication from the Comptroller General of the United States Transmitting a Report on the Examination of Financial Statements of the Pension Benefit Guaranty Corporation ... May 4, 1979. -- Referred to the Committees on Government Operations, Education and Labor, and Ways and Means and Ordered to be Printed
Author: Pension Benefit Guaranty Corporation's Program to Identify, Collect, and Account for Premium Payments Including Findings and Recommendations of the Subcommittee
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on OversightPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 24
Book Description
Examination of Financial Statements, Pension Benefit Guaranty Corporation, Fiscal Year 1977. Communication from the Comptroller General of the United States Transmitting a Report on the Examination of Financial Statements of the Pension Benefit Guaranty Corporation ... May 4, 1979. -- Referred to the Committees on Government Operations, Education and Labor, and Ways and Means and Ordered to be Printed
Author: Examination of Financial Statements of the Overseas Private Investment Corporation for Fiscal Year Ended September 30, 1977, and Transition Quarter Ended September 30, 1976
Author: United States. General Accounting OfficePublisher:
ISBN:
Category :
Languages : en
Pages : 28
Book Description
Examination of the Bureau of Engraving and Printing Fund's Financial Statements for the 15 Months Ended September 30, 1976, and for Fiscal Year 1977
Author: United States. General Accounting OfficePublisher:
ISBN:
Category :
Languages : en
Pages : 32
Book Description
Pension Benefit Guaranty Corporation
Author: United States. General Accounting OfficePublisher: DIANE Publishing
ISBN: 1428942734
Category : Insurance, Pension trust guaranty
Languages : en
Pages : 60
Book Description