Two House members have asked the Government Accountability Office to investigate whether the federal agencies that enforce pension law have failed to properly oversee the consultants and money managers who help decide how money is invested.
The request, from Rep. George Miller, D-Calif., and Rep. Edward J. Markey, D-Mass., points to the collapse earlier this year of the employee pension plans at United Airlines. In a letter to the GAO, the men wrote that while how companies fund their pension plans and account for pension liabilities has come under scrutiny, not enough attention has been given to how pension plan funds are regulated from the start.
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