About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

HRD-83-2 1 (1983-04-04)

handle is hein.gao/gaobabdyw0001 and id is 1 raw text is: BY THE COMPTROLLER GENERAL Report To The Congress OF THE UNITED STATES Inaccurate Fund Transfers Between Social Security Administration And Railroad Retirement Board Since 1958 the Social Security Administra- tion (SSA) has paid more than $17 billion to the Railroad Retirement Board through an annual fund transfer (financial interchange) required by law. The interchange is de- signed to place the social security program in the same financial position in which it would have been if railroad employment had not been excluded from social security coverage. GAO found that the Board, which performs all the interchange calculations, makes fre- quent errors, uses a statistical method that makes imprecise estimates, and includes inappropriate factors to calculate the amount due. As a result, both over- and underpayments are made by SSA. GAO estimates that the net effect of such errors and inefficiencies in one financial inter- change was that SSA paid the Board about $40 million more than it should have. GAO recommends that the Board improve its calculations accuracy and that SSA do more to ensure that the amount it pays the Board is proper. 121037 GAO/HRD-83-2 APRIL 4, 1983

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most