Watchdog Calls For Improved Oversight At PBGC

Law360, New York (September 12, 2008, 12:00 AM EDT) -- The federal backer of private-sector pensions still needs to tighten its oversight policies and practices, the Government Accountability Office has said in a new report on the Pension Benefit Guaranty Corporation.

In a report published Wednesday, GAO noted that while PBGC has made consistent progress and has addressed earlier recommendations, the agency's three-person board of directors still has a limited capacity to provide oversight and policy direction.

PBGC insures the pension plans of some 44 million private-sector workers who rely on an employer-sponsored pension plan....
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