Retirement Security: Oversight of the National Railroad Retirement Investment Trust

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By Charles A. Jescezk (au)
Year: 2014
Pages: 55
Binding Paperback
ISBN 978-1-4578-5584-9

Product Code: 1457855844

Description

The National Railroad Retirement Investment Trust (Trust) was established by federal statute effective in 2002 to manage a portion of the assets the Railroad Retirement Board (Board) uses to pay benefits to retired railroad workers, and managed about $25 billion in assets as of 2013. The Trust invests assets in stocks, bonds, and other investment vehicles in a manner similar to that of defined benefit plans. To insulate the Trust from political influence over its investment decisions, it was established independent of the federal government and it is exempted from the federal law that governs the financial operations of the U.S. government. This report assessed (1) the performance audit policies and practices that exist for oversight of the Trust; (2) the performance audit policies that apply to comparable organizations, such as large state public pension plans; and (3) what options, if any, could be pursued to improve Trust performance audit policies and what tradeoffs stakeholders believe such options entail. Tables and figures. This is a print on demand report.

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