In response to a request from Senator Herbert Kohl, Chairman of the U.S. Senate Special Committee on Aging, we evaluated PBGC’s strategic preparations to handle a potential influx of defined benefit plans.  We found that PBGC should:

• Take a strategic approach in assessing its preparedness for an influx, including explicitly addressing the significant role contractors in its plans and leveraging lessons learned from a prior workload surge.
• Ensure the feasibility of plans and develop tactics to address the increased workload.

PBGC proposed alternative actions to address four of the report’s five recommendations.  We accepted PBGC’s proposed corrective action for one recommendation.  However, we must review the planning document PBGC proposes to draft before we can determine whether PBGC’s proposed approach adequately addressed the report’s findings.