Private Pensions: Opportunities Exist to Further Improve the Transparency of PBGC's Financial Disclosures
Description: A letter report issued by the Government Accountability Office with an abstract that begins "The Pension Benefit Guaranty Corporation's (PBGC) single-employer insurance program insures the pension benefits of over 34 million participants in almost 29,000 private sector defined benefit pension plans. The increase in PBGC's probable claims has raised questions about PBGC's monitoring and financial disclosure practices, including whether the information that PBGC discloses is sufficient for interested parties to understand the effect on PBGC's financial condition. GAO examined (1) the steps that PBGC takes to monitor and ensure the accuracy of its probable claims, (2) how PBGC's financial liability reporting compares with those of publicly traded companies, and (3) the steps PBGC has taken to improve the transparency of its financial reporting and whether additional improvement is needed."
Date: March 27, 2006
Creator: United States. Government Accountability Office.
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Partner: UNT Libraries Government Documents Department