Semiannual
Report to Congress (SRC 21) April 1, 1999 through September
30, 1999
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This is
the twenty-first semiannual report to the Congress summarizing
the activities and accomplishments of the Pension Benefit Guaranty
Corporation (PBGC) Office of Inspector General (OIG) for the
period April 1, 1999 through September 30, 1999.
In
the audit area, we continue to work with two congressional
committees, the Senate Special Committee on Aging and
the Senate Small Business Committee, to respond to specific
requests concerning PBGC operations. We also issued
two (2) reports:
- audit
of sensitive payments made to senior PBGC officials related
to travel, honoraria, gifts, and executive pay;
- management
letter report citing control weaknesses found during the
fiscal year 1998 Financial Statement audit;
In the
investigative area, we opened fourteen (14) new investigative
cases during the reporting period, and closed ten (10) cases.
The most significant case we closed this period involved travel
and ethics violations. In addition, we continue to vigorously
pursue cases of pension fraud. During this period, a pension
plan participant pled guilty to defrauding PBGC of more than
$35,000 by altering his birth certificate, and a participant's
son was indicted for taking action to continue and then steal
his deceased father's pension payments from PBGC.
This report
also contains our annual update of the OIG's strategic planning
for the coming year.
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