At the encouragement of the President Council on Integrity and Efficiency, OIG initiated an Audit of PBGC's Mass Transit and Subsidized Parking Programs. Our overall audit objective was to determine the adequacy of PBGC's controls over these programs. Our work concluded that PBGC's controls for the MTP and SPP programs are generally adequate, however, we found a few areas where improvements are needed. For example we found:
- Eleven former employees could have downloaded their MTP benefits months after they had left the agency and 4 of these individuals did download their benefits after leaving PBGC. PBGC's exit procedures need tighter controls to prevent this from happening again.
- Six PBGC employees were inadvertently listed as eligible to receive both MTP and SPP benefits, which is prohibited. An employee can only receive one of these
benefits. PBGC needs to better guard against employees receiving double benefits.
- PBGC can improve its own internal operating controls by having a better separation of duties for the staff that operates the MTP programs.
- PBGC had not documented its position on paying parking for neither the MTP nor the SPP programs.
We made several recommendations to improve the internal controls for these programs. In commenting on a draft of this report, PBGC said that it agreed with our conclusions and recommendations.
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