Fiscal Year 2024 Financial Statement Audit Management Letter Report (AUD-2025-05), issued December 18, 2024

We contracted with Ernst & Young LLP (EY), an independent certified public accounting firm, to perform the audit. This management letter summarizes EY’s findings and recommendations related to PBGC’s internal control deficiencies and other matters. The issues noted in this report are not significant; and, therefore, the deficiencies were not required to be reported in the Independent Auditor’s Report (AUD-2025-03) issued on November 15, 2024. In FY 2024 EY had issued four new recommendations and closed five prior years' recommendations with the total of five open recommendation remaining at the end of FY 2024. PBGC agreed to resolve these recommendations in FY 2025.

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