Pension Benefit Guaranty Corporation

We received hotline complaints detailing concerns related to Spectrum 4’s acquisition and performance. We initiated a limited scope review to determine the legitimacy and severity of these issues. We substantiated some of the issues, and they warrant management’s attention. Specifically, we found...

The Government Charge Card Abuse Prevention Act of 2012 (Public Law 112-194) requires Offices of Inspector General to, among other things, conduct periodic assessments of the government purchase card program to identify and analyze risks of illegal, improper, or erroneous purchases and payments...

This narrative report is a follow-up to our fiscal year (FY) 2017 Federal Information Security Modernization Act (FISMA) submission to the Office of Management and Budget to provide findings and recommendations related to PBGC's information security programWe contracted with CliftonLarsonAllen LLP...

During the period April 1, 2017 through September 30, 2017, we:(1) Closed 11 audit recommendations and issued 9 new audit recommendations. The total number of open audit recommendations is 84.(2) Issued the following reports:(a) FY 2016 Improper Payments Evaluation. PBGC complied with improper...

The Office of Inspector General issued an audit report on internal control over financial reporting for the Single-Employer and Multiemployer Program Funds administered by the Pension Benefit Guaranty Corporation (PBGC).This report provides a more detailed discussion of the specifics underlying the...

The Office of Inspector General issued the audit of PBGC's Financial Statement Closing Package for Fiscal Year 2017 and 2016.The financial statements and accompanying notes contained in the closing package were prepared for the purpose of complying with the requirements of the U.S. Department of the...

The Office of Inspector General issued the audit of the financial statements of the Single-Employer and Multiemployer Program Funds administered by the Pension Benefit Guaranty Corporation (PBGC) as of and for the years ended September 30, 2017 and 2016 finding:1. The financial statements were...

This Risk Advisory is to report our concerns regarding control weaknesses within the MyPBAweb application. The suggestions contained in this Risk Advisory do not constitute formal auditrecommendations.

During the financial statement audit, we assessed PBGC’s information security infrastructure for technical weaknesses in PBGC’s computer systems that may allow employees or outsiders to cause harm to, and/or impact, PBGC’s business processes and information. Current year testing found weaknesses in...

We found that for FY 2017, second quarter submission, PBGC generally complied with DATA Act requirements for completeness, timeliness, quality, and accuracy of the data, including implementation and use of the government-wide financial data standards established by OMB and Treasury. However, we...