Support Our Ex-Troops

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			IN THIS REPORT

Revelations last month of the shoddy treatment of soldiers at a Walter Reed outpatient facility, while disturbing, were hardly surprising to longtime watchers of the military health-care system. Indeed, ''medical care delayed, medical care denied'' appears to be typical of the entire Department of Veterans Affairs. Within the VA, nowhere is this problem more evident than at the Veterans Benefits Administration, the unit charged with overseeing compensation payments made to disabled vets.

Underfunded and overworked, the agency is staggering under a massive backlog of cases that will only grow larger as veterans return from Afghanistan and Iraq. Senior editor John Goff brings home the story of the VBA, and the veterans who call on it for support, in "Support Our Ex-Troops." This special report also offers many more articles on finance and the defense industry, on finance elsewhere in the public sector, and on health care and employee benefits.

FEATURE ARTICLE

		Support Our Ex-Troops For the beleaguered Veterans Benefits Administration, errors in forecasting can leave veterans out on the street.


		FINANCE AND THE DEFENSE INDUSTRY

		Losing Battles Two decades of failed Pentagon financial reforms put more than just dollars at risk.

		War Dance: Will SEC Go Light on DOD Contractors? The increasing importance of the military supply chain has some wondering if defense contractors will get an easier ride from the Securities and Exchange Commission.

		Finance on the Front Line Defense contractors are benefiting from new controls their CFOs have installed.

		Catch-23 Washington claims that it wants private industry to do more of the Pentagon's work. So why do the rules for outsourcing help keep it in government hands?


		FURTHER READING ON FINANCE AND THE PUBLIC SECTOR

		Federal Offenses A dozen years after passage of the CFO Act, the U.S. Government still struggles to close its books.

		NASA, We Have a Problem Can Gwendolyn Brown fix the space agency's chronic financial woes?

		The Office of Management & Budget's Linda Combs How the CFO Act is slowly improving the government's financial management.

		GAO Cites Material Weaknesses Several material weaknesses kept the federal government from maintaining effective internal controls over financial reporting. Also, deficit still a concern.

		GAO Criticizes SEC Internal Controls In its fiscal year 2005 audit, the congressional watchdog agency found problems very similar to those it reported last year.

		GAO Finds Serious Flaws in IRS Controls As a result, the service reportedly didn’t provide "reasonable assurance" that losses, misstatements, and noncompliance could be prevented or found out in sufficient time.

		GAO Proposes Controls Remedies to FDIC ''Although these issues were not material in relation to the financial statements, we believe they warrant management's attention,'' wrote the GAO.

		Why Federal Agencies Fumble Audits Since they're not penalized for poor bookkeeping, the Defense Department, NASA, and other agencies are unlikely to show much improvement, say government experts.

		Spurning the CFO Act The finance chief at the Department of Homeland Security wants ''a chance to do things our way.''


		FURTHER READING ON HEALTH CARE AND EMPLOYEE BENEFITS

		Operation Match: Richer 401(k) Benefits Employers have been raising their defined-contribution plan matches to compensate employees for cutbacks in defined-benefit pensions and retiree medical benefits, an expert says.

		Pin the Tail on the Doctor A dearth of information leaves health-care consumers in the dark.

		Promises, Promises New pension rules are supposed to secure employees' retirement. Employers may have other ideas.

		FASB Rule Puts Pensions on Balance Sheet The board will start requiring publicly traded companies to state the underfunded or overfunded status of their pension and benefit plans on their financials at the end of fiscal years ending after December 15.

		Can 401(k)s Replace Pensions? Many employees can earn as much retirement income with a 401(k) as they can with a traditional defined-benefit plan, a pro-employer advocate asserts.

		Pension Act Tilts to Cash-Balance Plans But employers still might want to shun old-style defined-benefit plans for the comfort of a 401(k).

		HSAs May Not Deliver Company Savings A new study on health savings accounts says these 401(k)-like vehicles may not provide the medical spending relief some executives expect.

		Employer Health Plans Leaking Dollars Third-party benefit vendors often fall short on timeliness, claims accuracy, and correct reporting of the money spent.

		Sprucing Up the 401(k) With other retirement vehicles in dire shape, plan sponsors are rethinking their defined-contribution offerings.

		The Case against Health Savings Accounts Asking employees to pay more for their care can be a plus on balance sheets but a minus on medical charts, say critics.

		Putting a Premium on Health Employers are giving workers a new reason to get in shape: cash.

		Benefits in 2020 The future of health and retirement plans presents big challenges for employers and employees.

		A Refresher Course in Workers' Comp A scathing audit of the workers' compensation system in a Florida school district spotlights the need for tighter employer scrutiny of outsourcers.

		Prescription for Malaise? Providers are rushing to participate in Medicare's new drug-benefit program. Companies are proceeding with caution.

		I Want a New Drug Plan Companies hoping to curb prescription-drug charges are looking at a host of new cost-control measures.


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