Federal Reports

We found that PBGC premium exemption determinations can be improved with additional supporting documentation. For the 19 plans we reviewed, 13 of the exemptions lacked documentation supporting the plan’s basis for exemption. We further found that team leaders did not always review coverage exemptions, as required. Lastly, we identified three substantial owner exemptions, granted by PBGC, that require further review. We issued four recommendations to management including updating the Processing and Technical Assistance Branch Manual to require additional supporting documentation, training staff on the manual revisions, reviewing the three plans identified in the report to determine if properly exempted, and updating procedures regarding supervisor review of coverage decisions. PBGC agreed with the four recommendations and plans to complete corrective action by September 30, 2017.

EAC OIG through the independent public accounting firm of McBride, Lock & Associates, LLC, audited $17.5 million in funds received by the Vermont Secretary of State under the Help America Vote Act. The objectives of the audit were to determine whether the Office: 1) used payments authorized by Sections 101, 102, and 251 of the Grant in accordance with Grant and applicable requirements; 2) accurately and properly accounted for property purchased with Grant payments and for program income; 3) met HAVA requirements for Section 251 funds for creation of an election fund, providing required matching contributions, and meeting the requirements for maintenance of a base level of state outlays, commonly referred to as Maintenance of Expenditures (MOE).

To see our report, click on the link below