Home
Solutions
Products
Pricing
Resources
Request Demo
Start Free
Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo
StateStorm

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

  • 376 new people
  • 171 new organizations
  • 408 new photos
  • 1234 job history records for people in our database
  • 653 education records for people in our database
  • 1467 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
  • 3 new people through the revolving door
  • 109 new policy reports
  • 43 new trips to our privately funded travel database
  • 629 new personal financial disclosures
  • 15148 new press releases
  • 11 new town halls
  • 25 new hearings

Caught Our Eye Rss

» More from Caught Our Eye
» More from our DevBlog

Pension Plans: Terminations, Asset Reversions, and Replacements Following Leveraged Buyouts

  Premium   Download PDF Now (14 pages)
Report Type Reports and Testimonies
Report Date March 4, 1991
Report No. HRD-91-21
Subject
Summary:

Pursuant to a congressional request, GAO reviewed what happened to the 558 defined pension plans of 121 public companies acquired in leveraged buyouts (LBO).

GAO found that: (1) 20 percent of the defined benefit plans sponsored by the companies were terminated after LBO; (2) the most common reasons for plan terminations included adopting a new plan and the sale of a plant or division; (3) 99 percent of the terminated plans were overfunded, resulting in a reversion of excess assets to the company; (4) 75 percent of the terminated plans were to be replaced, 38 percent as defined benefit plans and 37 percent as defined contribution plans; (5) it could not determine if participants received the same benefits from the replacement plan as from the terminated plan; and (6) the limited information on the plans that continued showed that the financial condition of most plans did not deteriorate after LBO.

« Return to search Government Accountability Office reports

HomeAbout Us Contact UsPrivacy PolicyTerms of UseJoin Us
© LegiStorm
LegiStorm
2101 L St. NW, Suite 300
Washington, DC 20037
(202) 360-4172 / congress@legistorm.com