Showing posts with label gao. Show all posts
Showing posts with label gao. Show all posts

9.28.2009

gao report: 401(k) Leakage

For the last 9 months or so I have been working on a report about 401(k) leakage. The report was released on Friday and garnered a fair amount of press, which is very exciting. I will let the topic and report speak for the topic: 401(k) Plans: Policy Changes Could Reduce the Long-term Effects of Leakage on Workers' Retirement Savings. GAO-09-715, August 26. A one page of report highlights can be read by clicking htis sentence.

From MarketWatch:
"SAN FRANCISCO (MarketWatch) -- A forthcoming federal report on retirement savings recommends easing a penalty for hardship withdrawals from 401(k) plans and that workers receive better education about the consequences of such decisions.

The Government Accountability Office report, slated for release Friday, suggests ways for Congress and federal agencies to reduce the long-term impact of early withdrawals, or "leakage," from retirement plans." (Click here to read more of the article.)

Needless to say I am pretty proud. Good job team leakage.

7.07.2009

not moving to richland

After I was vetted and told that I could in fact apply for said position in Richland, WA, we decided we are, most likely, city people and at the very least not giant superfund site people. So, we are not moving to Richland. Seattle and Portland remain at the top of our list.

Brent sent me a link to this video below...some good thoughts about how to move forward and get to your goals...by a guy who only works four hours a week.

6.23.2009

richland washington

So my office has a job open in Richland Washington. We are thinking of applying...but don't know much about the place. Any of you readers out there know anything about the place?

It is only a three hour drive to Seattle or Portland, so that would be nice. And it is sunny 300 days a year...and Washington does not have state income tax...

11.20.2008

a new GAO report of interest

Loyal readers may be interested to read this hot off the presses GAO report Department of Homeland Security: Billions Invested in Major Programs Lack Appropriate Oversight. (Click this sentence to read more.)

This USA Today article is about the report...

By Thomas Frank, USA TODAY
WASHINGTON - The Homeland Security Department has done a poor job overseeing the purchase of billions of dollars of equipment and technology since the agency was created five years ago, according to a federal report scheduled for release today.

Senior department officials have "not provided the oversight needed" to ensure that purchases "with important national security objectives" function properly and stay on budget, according to Congress' Government Accountability Office (GAO).

The GAO report is the latest to raise questions about the Homeland Security Department, which Congress has criticized for gaps in aviation security, a faltering response to Hurricane Katrina and slow progress in securing land borders.

The new report levels criticism at a complex process Homeland Security has used to beef up the nation's defenses by purchasing security equipment, including machines that scan suitcases for bombs.

In many cases, programs were delayed or went over budget, including planned improvements in Coast Guard rescues, luggage screening and the capture and removal of illegal migrants.

Although previous audits have documented problems with individual programs, the GAO report is the first to review Homeland Security's overall system of buying and maintaining $60 billion of new equipment and technology.

The main problem is that the department did not follow its own procedures, set up to make sure taxpayer funds are "being spent wisely, efficiently and effectively," the GAO said.

Rep. David Price, D-N.C., head of the subcommittee that oversees Homeland Security spending, said the department's purchasing system needs an overhaul to protect billions in taxpayer funds.

Major purchases "should not move forward unless they have been thoroughly vetted," Price said in a statement.

The report found that 45 of 48 major acquisitions were not reviewed regularly by a Homeland Security oversight board created to do the reviews. Fourteen of those projects had cost overruns, delays and shortcomings in how they functioned.

Homeland Security spokesman Larry Orluskie referred a reporter to a statement attached to the GAO report written by department acquisitions chief John Hutton. The statement said many improvements have been made, including the creation of two oversight divisions. He added that other improvements will be made in the next two years.

The GAO blamed oversight problems on insufficient Homeland Security staff and limited attention paid by senior department officials.


Find this article at:
http://www.usatoday.com/news/washington/2008-11-19-spending_N.htm