Administration
Audit of the Pension Benefit Guaranty Corporation’s Fiscal Year 2025 Financial Statements (AUD-2026-02), issued January 16, 2026
The Office of Inspector General issued the audit report of the financial statements of the Single-Employer and Multiemployer Program Funds administered by the Pension Benefit Guaranty Corporation (PBGC) as of and for the year ended September 30, 2025, finding:
The financial statements present fairly, in all material respects, the financial position of the Single-Employer and Multiemployer Program Funds of PBGC as of September 30, 2025, and the results of their operations and cash flows for the year then ended, in accordance with U.S. generally accepted accounting principles.
The Single-Employer and Multiemployer Program Funds maintained, in all material respects, effective internal control over financial reporting as of September 30, 2025, based on criteria established in the Standards for Internal Control in the Federal Government, September 2014, issued by the United States Government Accountability Office (the Green Book). PBGC has one significant deficiency related to monitoring of internal controls at service organizations.
No instances of noncompliance or other matters with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements.
