July 23, 2015
The Government Accountability Office (GAO) is asking for volunteers to participate in a survey it is conducting on eligibility and vesting requirements in defined contribution (DC) plans. The survey is to gather information on this subject from DC plan sponsors or service providers for purposes of a report to Congress that it is preparing. The request states that survey results might be summarized in the report and if individual responses are quoted, they will be sanitized to remove identifying information. No personal information is required to be provided in responding to the survey unless the respondent wishes to volunteer for a possible follow-up telephone interview. As a final reassurance, the request notes that GAO is not auditing or analyzing the policies or practices of any individual plan sponsor.
The survey consists of 19 questions divided into five categories: eligibility requirements, vesting requirements, timing of contributions, participant communication, and plan characteristics. Any DC plan sponsor or service provider can participate by going to the survey website.
GAO is a nonpartisan independent agency of Congress and, generally speaking, is responsible for investigating how the federal government operates and the impact of government program. GAO activities are either prescribed by law or in response to Congressional requests. Its best known products are its Reports to Congress.
Share this page
Sibson helps our clients navigate the maze of federal, state and local laws and regulations related to benefit plans.Learn more about our compliance services