Pension Benefit Guaranty Corporation: A More Strategic Approach Could Improve Human Capital Management

摘要

The Pension Benefit Guaranty Corporation (PBGC) employs over 800 federal employees and uses some 1,500 private sector employees to insure the pensions of millions of private sector workers and retirees in certain employer-sponsored pension plans. In recent years, PBGC's projected financial liabilities and workloads have increased greatly due to a large number of pension plan terminations. Given this, it is important that PBGC remain well positioned to fulfill its promise to those retirees who depend on it. GAO was asked to report on (1) PBGC's recent experience in hiring and retaining key staff and how it compares to other federal agencies and (2) the actions PBGC has taken to strategically hire and retain key staff and what additional steps, if any, can be taken. To do this, we analyzed PBGC's workforce by using the Office of Personnel Management's (OPM) Central Personnel Data File to identify data and compared those data to data from other federal agencies. We also interviewed officials from selected agencies, including PBGC, OPM, and the Department of Labor.