Pension Benefit Guaranty Corporation

As part of the Consolidated Appropriations Act of 2016 (Public Law 114-113), Congress passed the Cybersecurity Act of 2015 which required Offices of Inspectors General to conduct an evaluation and submit a report on “covered” computer systems to the appropriate committees of jurisdiction in 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, 2015 and 2014 finding:• The financial statements were...

The Office of Inspector General issued an audit of the internal controls over financial operations 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...

We contracted with CliftonLarsonAllen LLP, an independent public accounting firm, to perform an evaluation and review of PBGC’s information and technology (IT) security required by the Federal Information Security Management Act (FISMA). PBGC has made progress in addressing conditions reported in...

The Office of Inspector General issued the audit of PBGC's Financial Statement Closing Package for Fiscal Year 2015 and 2014.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...

During the audit, our independent public accountant, CliftonLarsonAllen LLP, identified certain matters related to PBGC's internal control and operations that while significant were not of sufficient magnitude to impact the financial statement opinion and were not included in the report on internal...

As required by the IPIA, as amended, we reviewed PBGC's compliance with IPIA’s requirements. The Corporation has taken action to comply with all applicable requirements established in OMB Circular A-123, Appendix C. We concur with PBGC's assessment that payments to Benefit Payments and Premium...

We reviewed the effectiveness of PBGC’s governance of internal control, with emphasis on the entity-wide risk assessment and resulting impact on PBGC’s internal control testing according to applicable laws, regulations and guidance. We found information and communication within PBGC’s internal...

We hired an Independent Public Accountant (IPA) to analyze the three multiemployer plan receiving financial assistance from PBGC. The IPA completed the following procedures:1. Verified the accuracy of the original benefit computations performed by the plan’s actuary,2. Verified the benefit payments...