Automatic IRAS: Lower-Earning Households Could Realize Increases in Retirement Income (open access)

Automatic IRAS: Lower-Earning Households Could Realize Increases in Retirement Income

A letter report issued by the Government Accountability Office with an abstract that begins "Households without employer-sponsored defined contribution (DC) pension plans or individual retirement accounts (IRA) had lower incomes and tax rates than households with those plans, and are also likely to have limited additional resources to draw upon in retirement, according to GAO estimates. The median adjusted gross income for households without DC plans or IRAs was $32,000, compared to $75,000 for those that did have them. The median marginal tax rate for households without DC plans or IRAs was 15 percent, compared to 25 percent for households with those savings vehicles. A defined benefit (DB) pension plan could provide a monthly benefit during retirement years for those without a DC plan or IRA; however, in 2010 only 15 percent of married households and 11 percent of single households without a DC plan or IRA had a DB plan."
Date: August 23, 2013
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Oil and Gas Development: BLM Needs Better Data to Track Permit Processing Times and Prioritize Inspections (open access)

Oil and Gas Development: BLM Needs Better Data to Track Permit Processing Times and Prioritize Inspections

A letter report issued by the Government Accountability Office with an abstract that begins "Bureau of Land Management (BLM) data indicate that BLM received about half as many applications for permit to drill (APD) for federal oil and gas resources in fiscal year 2012 as it had in fiscal year 2007. The decline in APDs since 2007 was driven by declines in natural gas and coalbed methane APDs on federal lands even while oil development on federal lands increased significantly. The reasons BLM officials and industry representatives cited for these changes in APDs include, among other things, a general industry move toward developing gas in shale formations using horizontal drilling and hydraulic fracturing; shale development has largely occurred on state and private lands, where shale resources are predominately located. However, the number of APDs has varied by BLM location, with 23 of 33 BLM offices seeing declines, 9 offices seeing increases, and 1 office seeing no change in APDs."
Date: August 23, 2013
Creator: United States. Government Accountability Office.
System: The UNT Digital Library