Fiscal Year 2012 Financial Statements Audit Management Letter (AUD 2013-8/ FA- 12-88-7) May 14, 2013.

During the audit, our independent public accountant, CliftonLarsonAllen LLP, identified certain matters related to PBGC’s internal control and operations that while significant were not of sufficient magnitude to impact the financial statement opinion and were not included in the report on internal control dated November 15, 2012 (AUD-2013-2 / FA-12-88-2). This management letter summarizes CliftonLarsonAllen’s findings and recommendations regarding these matters and includes the status of prior years’ management letter recommendations. For FY 2012 we reported findings, and provided recommendations, in the areas of Personal Interest Conflict, Deceased Participant Benefit Payment Process, and Participant Data Review. PBGC management agreed with the recommendations and provided planned corrective actions and estimated completion dates.

Due to the nature of this report, it is not publically available.

The report is intended solely for the information and use of PBGC management and Office of Inspector General and is not intended to be and should not be used by anyone other than these specified parties. Request for further distribution of this report should be made to the Office of Inspector General.