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Conflicts Of Interest Threaten Worker Benefits: GAO

Law360 (June 29, 2007, 12:00 AM EDT) -- The U.S. Government Accountability Office said on Thursday that conflicts of interest involving consultants in defined benefit plans may hurt workers.

The GAO presented its conclusion in a report that had been requested by Congress in response to the spate of terminated pension plans among bankrupt airlines in recent years. It said that not enough is being done to assess the risks involved in conflicts of interest, and that the conflicts might reduce benefit plans' yields.

It paid particular attention to the Pension Benefit Guarantee Corporation,...
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