New GAO Reports – NextGen Air Transportation System, Private Pensions

NextGen Air Transportation System – FAA Has Made Some Progress in Midterm Implementation, but Ongoing Challenges Limit Expected Benefits, GAO-13-264, Apr 8, 2013: “The Federal Aviation Administration (FAA) is pursuing key operational improvements to implement the Next Generation Air Transportation System (NextGen) in the “midterm,” which is 2013 through 2018. These improvements focus on establishing Performance Based Navigation (PBN) procedures at key airports, but benefits could be limited in the midterm.”
Private Pensions – Timely Action Needed to Address Impending Multiemployer Plan Insolvencies, GAO-13-240, Mar 28, 2013: “The most severely distressed multiemployer plans have taken significant steps to address their funding problems and, while most plans expected improved financial health, some did not. A survey conducted by a large actuarial and consulting firm serving multiemployer plans suggests that the large majority of the most severely underfunded plans–those designated as being in critical status–either have increased or will increase employer contributions or reduce participant benefits. In some cases, these measures will have significant effects on employers and participants. For example, several plan representatives stated that contribution increases had damaged some firms’ competitive position in the industry, and, in some cases, threatened the viability of such firms.”