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This is
the twenty-sixth 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 October 1, 2001 through March 31, 2002. Our
efforts were directed toward performing audits, inspections,
and evaluations of the Corporation's programs and operations;
conducting several large and complex investigations; and providing
technical assistance and advice on Corporate programs.
In the
audit area, we issued seven (7) reports, including:
- FY
2001 Financial Statement Audit;
- Two
reports that support the U.S. Treasury’s preparation
of United States Government consolidated financial statements:
-
Agreed-upon Procedures to Review PBGC’s FACTS transmission;
and
-
Agreed-upon Procedures for CFO Representations and Intragovernmental
Activity and Balances
In the
investigative area, we opened nineteen (19) new investigative
cases during the reporting period and closed fifteen (15)
cases. Among the most significant cases closed this period
we found:
- A participant
falsely stated that he had not received a lump sum benefit
payment;
- A participant
attempted to fraudulently waive his spouse’s entitlement
to a benefit, but the form was invalid, resulting in the
spouse getting a benefit; and
- Employees
and contractors misused Corporate resources by accessing
sexually explicit sites on the Internet; OIG recommended
PBGC install filtering software.
We also
closed a long-standing proactive case dealing with the systemic
issue of continuing pension benefit payments to participants
after their death. We worked with agency personnel to review
the large backlog of overpayments to deceased participants
and examine its processes. This resulted in changes in procedures
and referrals of cases to the OIG for investigation. We now
have an on-going dialogue with PBGC employees who deal with
recovering pension payments issued after a participant’s
death, consult on potential problems and clarification of
procedures, and receive referrals for investigation and possible
prosecution.
During
the period, we reviewed regulations relating to a change in
the Appeals Board’s review procedures, and participated
in several initiatives to improve PBGC.
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