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089642 1 (1975-02-05)

handle is hein.gao/gaobacvrp0001 and id is 1 raw text is: rD S7 UNITED STATES GENERAL ACCOUNTING OFFICE REGIONAL OFFICE oU Ceff ROOM 403. U.S. CUSTOMHOUSE. 610 SOUTH CANAL STREET CHICAGO, ILLINOIS 60607 FEB 5 1975 Commander Headquarters, United States Army Armament Command Rock Island, Illinois 61201 Dear Commander: The General Accounting Office recently completed a review of pension costs at the Joliet Army Ammunition Plant (JAAP), Joliet, Illinois, a Government-owned installation operated by Uniroyal, Inc., under a Cost- Plus-Award-Fee contract DAAA 09-71-C-0305. The review was made to deter- mine the reasonableness of JAAP pension costs primarily for calendar years 1969 through 1973. Currently, there are three trusteed pension plans for locally hired employees and one for Uniroyal personnel transferred to JAAP (see appendix I). Uniroyal uses the services of a consulting actuary, Marsh and McLennan in New York, for determining annual pension payments and contributions to the trust funds. The Contracting Officer's Representative (COR) at JAAP is responsible for approving payment of pension costs billed by Uniroyal. Approvals are generally based on the results of Defense Contract Audit Agency (DCAA) audit. BACKGROUND In 1960, Uniroyal and the United States Army Ordnance Ammunition Command, Joliet, Illinois, a predecessor of the Army Armament Command (ARMCOM), agreed to establish two funded pension plans for contractor employees at JAAP. One plan covered locally hired employees and the other plan, which is part of a company-wide plan, covered personnel transferred from other Uniroyal locations. The agreement provided for a 10-year delay in recognition of the Army's liability for pension pay- ments and 100 percent funding in the year of recognition for the plan covering locally hired employees. For the plan covering transferees, ~ Qf%9g

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