Inaccurate Fund Transfers Between Social Security Administration and Railroad Retirement Board
Gao ID: HRD-83-2 April 4, 1983GAO reviewed the financial interchange whereby the Social Security Administration (SSA) has paid more than $17 billion to the Railroad Retirement Board (RRB) since 1958.
In reviewing 1979 financial interchange data, the current data available when the GAO review began, GAO found errors and inaccuracies in benefit calculations, projections, and administrative expense estimates resulting from SSA overpayments and underpayments. GAO estimates that, for the 1979 interchange alone, SSA transferred to RRB about $40 million more than it should have. Since many of the same procedures GAO questioned are still in effect, interchanges subsequent to 1979 will continue to contain errors and inaccuracies unless improvements are made.
RecommendationsOur recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.
Director: Joseph F. Delfico Team: General Accounting Office: Human Resources Division Phone: (202) 512-7215