GAO-08-667, PBGC Assets: Implementation of New Investment Policy Will Need Stronger Board Oversight, July 17, 2008
The Pension Benefit Guaranty Corporation (PBGC) insures the retirement future of over 44 million people. As a federal guarantor of private defined benefit plans, PBGC finances its operations through insurance premiums, investment income, and funds from terminated pension plans. PBGC is governed by a board of directors comprised of the Secretaries of Commerce, Labor, and Treasury, who are responsible for providing policy direction and oversight ...
Mon, 18 Aug 2008 00:00:00 +0100
GAO-08-751, Food and Drug Administration: Approval and Oversight of the Drug Mifeprex, August 7, 2008
In September 2000, the Food and Drug Administration (FDA), part of the Department of Health and Human Services (HHS), approved the drug Mifeprex for use in terminating early term pregnancy. FDA approved the drug under a provision of its Subpart H regulations, allowing it to restrict the drug's distribution to assure its safe use. Critics have questioned aspects of the Mifeprex approval process, including the reliance on historically-controlled ...
Mon, 18 Aug 2008 00:00:00 +0100
GAO-08-841R, Superfund: Funding and Reported Costs of Enforcement and Administration Activities, July 18, 2008
The Environmental Protection Agency (EPA) estimates that one in four Americans lives within 3 miles of a hazardous waste site. To clean up these highly contaminated sites, the Congress established the Superfund program under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) in 1980. EPA, the principal agency responsible for administering the Superfund program, has since identified more than 47,000 hazardous ...
Mon, 18 Aug 2008 00:00:00 +0100
GAO-08-1055R, Review of the Transportation Security Administration's Air Cargo Screening Exemptions Report, August 15, 2008
This report formally transmits the attached briefing in response to section 1602(b) of the Implementing Recommendations of the 9/11 Commission Act of 2007. The act requires the Comptroller General to provide an assessment of the methodology used by the Secretary of Homeland Security for maintaining, changing or eliminating an exemption under 49 U.S.C. 44901(i)(1). We provided the mandated reporting committees with a restricted version of ...
Fri, 15 Aug 2008 00:00:00 +0100
GAO-08-774, Private Pensions: Fulfilling Fiduciary Obligations Can Present Challenges for 401(k) Plan Sponsors, July 16, 2008
American workers increasingly rely on 401(k) plans for their retirement security, and sponsors of 401(k) plans--typically employers--have critical obligations under the Employee Retirement Income Security Act of 1974 (ERISA). When acting as fiduciaries, they must act prudently and solely in the interest of plan participants and beneficiaries. The Department of Labor (Labor) is responsible for protecting private pension plan participants ...
Fri, 15 Aug 2008 00:00:00 +0100
GAO-08-877, Defense Acquisitions: Department of Defense Needs Framework for Balancing Investments in Tactical Radios, August 15, 2008
The Department of Defense (DOD) has spent an estimated $12 billion on the development and production of tactical radios over the last 5 years--about as much as was spent producing Virginia Class submarines ($10.8 billion) in the same period. Survivability and lethality in warfare are increasingly dependent on superior information and communication capabilities. DOD is counting on the Joint Tactical Radio System (JTRS) to deliver the breakthroughs ...
Fri, 15 Aug 2008 00:00:00 +0100