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 2008-08-14 monographic deposited born digital 71 p. GA 1.13:GAO-08-692 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-692 P0b002ee18038bcc4 f:d08692 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-692 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-692 GAO-08-692 Army procurement Federal regulations Financial management Fund audits Funds management Investment companies Investment planning Investments Pension plan cost control Pensions Private sector Program evaluation Program management Retirement Risk assessment Risk management Sole source procurement Standards Standards evaluation Stock exchanges Stocks (securities) Strategic planning Surveys Other Written Product A83520 Millions of retired Americans rely on defined benefit pension plans for their financial well-being. Recent reports have noted that some plans are investing in 'alternative' investments such as hedge funds and private equity funds. This has raised concerns, given that these two types of investments have qualified for exemptions from federal regulations, and could present more risk to retirement assets than traditional investments. To better understand this trend and its implications, GAO was asked to examine (1) the extent to which plans invest in hedge funds and private equity; (2) the potential benefits and challenges of hedge fund investments; (3) the potential benefits and challenges of private equity investments; and (4) what mechanisms regulate and monitor pension plan investments in hedge funds and private equity. To answer these questions GAO interviewed relevant federal agencies, public and private pension plans, industry groups and investment professionals, and analyzed available survey data. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-692/html/GAOREPORTS-GAO-08-692.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-692/pdf/GAOREPORTS-GAO-08-692.pdf GAO-08-692 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-692 Other Written Product GAO-08-692; Defined Benefit Pension Plans: Guidance Needed to Better Inform Plans of the Challenges and Risks of Investing in Hedge Funds and Private Equity; Army procurement Federal regulations Financial management Fund audits Funds management Investment companies Investment planning Investments Pension plan cost control Pensions Private sector Program evaluation Program management Retirement Risk assessment Risk management Sole source procurement Standards Standards evaluation Stock exchanges Stocks (securities) Strategic planning Surveys Volume 48 Page 74 Volume 48 Page 881 48 Stat. 74 48 Stat. 881 Volume 54 Page 797 Volume 54 Page 847 54 Stat. 797 54 Stat. 847 Volume 120 Page 780 120 Stat. 780 Public Law 109-280