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B-286026 1 (2001-06-12)

handle is hein.gao/gaocrptamlp0001 and id is 1 raw text is: I G A O Comptroller General Accountability * Integrity * Reliability of the United States United States General Accounting Office Washington, DC 20548 Decision Matter of: Payment of Fees for Actuarial Accreditation Examination Review Courses and Examination File: B-286026 Date: June 12, 2001 DIGEST Under the Government Employees' Training Act, 5 U.S.C. § 4109(a), PBGC may pay for its actuaries to attend accreditation examination review courses and to provide on-the-job study time, but may not pay the cost of accreditation examinations. DECISION By letter dated August 2, 2000, the General Counsel of the Pension Benefit Guaranty Corporation (PBGC) asked whether PBGC may use appropriated funds to pay, as training costs, fees for actuary accreditation examination review courses, on-the-job study time, and examination fees. As explained below, PBGC has authority, under 5 U.S.C. § 4109(a), to use appropriated funds for review courses and on-the-job study time, but not for examination fees. Background PBGC is a wholly-owned government corporation, 5 U.S.C. § 105, that administers the defined-benefit termination insurance program under Title IV of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1301 - 1368. When a covered pension plan terminates with unfunded benefit liabilities, PBGC takes over the plan and pays the unfunded portion of the basic benefits with its insurance funds. 29 U.S.C. § 1322. PBGC employs a number of actuaries to calculate pension benefits. To obtain employment as an actuary at PBGC, a person must have an undergraduate degree or a combination of relevant education and experience; an actuary need not have a professional license or credential for employment. Letter from PBGC General Counsel, August 2, 2000. Two organizations, the Joint Board for the Enrollment of Actuaries and the Society of Actuaries, offer examinations to accredit actuaries. In the course of negotiating a collective bargaining agreement with its actuaries, PBGC proposes to use its training funds to pay to send actuaries to examination review courses, provide actuaries with

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