United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2008-09-10 monographic deposited born digital 34 p. GA 1.13:GAO-08-1062 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-1062 P0b002ee180394d8a f:d081062 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-1062 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-1062 GAO-08-1062 Advisory committees Congressional oversight Federal advisory bodies Federal corporations Federal funds Financial management Funds management Investigations into federal agencies Pension claims Pensions Program evaluation Program management Reporting requirements Retirement Retirement income Strategic planning Policies and procedures GAO High Risk Series Other Written Product A84142

The Pension Benefit Guaranty Corporation (PBGC) insures the pension benefits of 44 million private sector workers and retirees in over 30,000 employer-sponsored pension plans. In July 2007, GAO reported that PBGC's governance structure needed improvements, and asked Congress to consider expanding the board of directors to include additional members. GAO also recommended that the board develop policies and mechanisms consistent with corporate governance practices, and develop formal guidelines to clarify the roles and responsibilities of the board chair, members, their representatives, and the director. On the basis of that work, this report addresses (1) the steps PBGC has taken to improve policy direction and oversight and (2) how Congress applies oversight to PBGC and what other oversight mechanisms exist for government corporations. GAO reviewed PBGC's new corporate bylaws and the structure and reporting requirements of selected government corporations. GAO also interviewed PBGC and Department of Labor officials. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-1062/html/GAOREPORTS-GAO-08-1062.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-1062/pdf/GAOREPORTS-GAO-08-1062.pdf GAO-08-1062 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-1062 Other Written Product GAO-08-1062; Pension Benefit Guaranty Corporation: Need for Improved Oversight Persists; Advisory committees Congressional oversight Federal advisory bodies Federal corporations Federal funds Financial management Funds management Investigations into federal agencies Pension claims Pensions Program evaluation Program management Reporting requirements Retirement Retirement income Strategic planning Policies and procedures GAO High Risk Series Title 5 Section 601(2) Title 5 Section 603 Title 5 Section 604 Title 5 Appendix 2 5 U.S.C. 601(2) 5 U.S.C. 603 5 U.S.C. 604 5 U.S.C. App. 2 Title 29 Section 1302(1) Title 29 Section 1302(b)(3) 29 U.S.C. 1302(1) 29 U.S.C. 1302(b)(3) Volume 86 Page 770 86 Stat. 770 Volume 88 Page 829 88 Stat. 829 Volume 120 Page 780 120 Stat. 780 Public Law 92-463 Public Law 93-406 Public Law 109-280 Title 29 Part 4002 29 CFR Part 4002 Title 29 Part 4002 29 CFR Part 4002 Title 29 Part 4002 29 CFR Part 4002