Examining The Challenges Facing The Pension Benefit Guaranty Corporation And Defined Benefit Pension Plans

Author : United States. Congress,United States House of Representatives,Committee on Education and the Workforce
Publisher : Createspace Independent Publishing Platform
Page : 102 pages
File Size : 49,9 Mb
Release : 2017-09-30
Category : Electronic
ISBN : 197778612X

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Examining the Challenges Facing the Pension Benefit Guaranty Corporation and Defined Benefit Pension Plans by United States. Congress,United States House of Representatives,Committee on Education and the Workforce Pdf

Examining the challenges facing the Pension Benefit Guaranty Corporation and defined benefit pension plans : hearing before the Subcommittee on Health, Employment, Labor, and Pensions, Committee on Education and the Workforce, U.S. House of Representatives, One Hundred Twelfth Congress, second session, hearing held in Washington, DC, February 2, 2012.

Author : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions
Publisher : Unknown
Page : 108 pages
File Size : 42,5 Mb
Release : 2013
Category : Defined benefit pension plans
ISBN : MINN:31951D03678336I

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Examining the Challenges Facing the Pension Benefit Guaranty Corporation and Defined Benefit Pension Plans by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions Pdf

Author : Barbara D. Bovbjerg
Publisher : DIANE Publishing
Page : 62 pages
File Size : 41,7 Mb
Release : 2009-02
Category : Law
ISBN : 9781437908381

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Defined Benefit Pensions by Barbara D. Bovbjerg Pdf

Private defined benefit (DB) pension plans are an important source of retirement income for millions of Americans. However, from 1990 to 2006, plan sponsors have voluntarily terminated over 61,000 sufficiently funded single-employer DB plans. An event preceding at least some of these terminations was a so-called plan ¿freeze¿ -- an amendment to the plan to limit some or all future pension accruals for some or all plan participants. This report examines: (1) the extent to which DB pension plans are frozen and the characteristics of frozen plans; and (2) the implications of these freezes for plan participants, plan sponsors, and the Pension Benefit Guaranty Corp. (PBGC). Charts and tables.

Author : United States. Congress. House. Committee on Education and the Workforce
Publisher : Unknown
Page : 92 pages
File Size : 43,7 Mb
Release : 2004
Category : Law
ISBN : STANFORD:36105050358261

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Strengthening pension security and defined benefit plans by United States. Congress. House. Committee on Education and the Workforce Pdf

Author : Joel B. Lang
Publisher : Unknown
Page : 101 pages
File Size : 49,5 Mb
Release : 2004-06-01
Category : Electronic
ISBN : 1423518365

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The Defined Benefit Pension Plan System by Joel B. Lang Pdf

The defined benefit (DB) pension system that provides retirement security to 44.5 million Americans faces significant challenges. At the end of 2003, the system was underfunded by $350 billion, there were 82,696 fewer plans then during the system peak (in 1985), and the Pension Benefit Guaranty Corporation (PBGC) responsible for ensuring retirees receive their retirement benefits even after a plan terminates, reported a deficit of $11.49 billion. This thesis examines the challenges facing the DB pension plan system, beginning with an overview of the DB plan system, a review of the different plan types, the benefits received, and funding rules. Next, examining the PBGC, its purpose, its organization, and the role that it plays in the DB pension system. Followed by an identification of the challenges facing the pension plan system, and corporate America's frustrations with the system. Finally, the thesis presents some recent reform proposals, and provides corporate America's response to them. A changing workforce demanding leaner retirement options, plans that allow multiple career changes, provide beneficiaries with lump sum benefits, provide early vesting characteristics, and are easily understood, is challenging the future of the DB plan system. To survive the DB plan system must continue to change.

Author : Barbara D. Bovbjerg
Publisher : DIANE Publishing
Page : 34 pages
File Size : 42,6 Mb
Release : 2009-02
Category : Law
ISBN : 9781437909708

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Pension Benefit Guaranty Corporation by Barbara D. Bovbjerg Pdf

The Pension Benefit Guaranty Corp. (PBGC) insures the pension benefits of 44 million private sector workers and retirees in over 30,000 employer-sponsored pension plans. It was reported that PBGC¿s governance structure needed improvements. Congress is considering expanding the board of dir. to include additional members. It was also recommended that the board develop policies and mechanisms consistent with corp. governance practices, and develop formal guidelines to clarify the roles and respon. of the board chair, members, and their rep. This report addresses: the steps PBGC has taken to improve policy direction and oversight; and (2) how Congress applies oversight to PBGC and what other oversight mechanisms exist for gov¿t. corps. Illus.

Author : Stan Dupont
Publisher : Nova Science Publishers
Page : 0 pages
File Size : 41,5 Mb
Release : 2013
Category : Pension trust guaranty insurance
ISBN : 1628081074

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Pension Benefit Guaranty Corporation by Stan Dupont Pdf

This book provides background and analysis of the premiums charged by the Pension Benefit Guaranty Corporation (PBGC), which is a government-owned corporation that was created in 1974 to protect the retirement income of participants in private-sector, defined benefit (DB) pension plans. When a company terminates a DB pension plan that does not have enough assets to pay 100% of the promised benefits, PBGC pays, in accordance with statute and up to a maximum yearly dollar amount, the benefits to participants in the terminated plan. In FY2012, 887,000 individuals received $5.5 billion in benefit payments from PBGC. An additional 614,000 workers will receive benefits when they retire. PBGC consists of two insurance programs: (1) a multi-employer pension program, which protects the benefits of 10.3 million participants in collectively bargained DB pensions in which several employers make contributions, and (2) a larger single-employer pension program, which protects the benefits of 33.4 million participants in DB pensions operated by one employer for its eligible employees.

Author : Stan Dupont
Publisher : Unknown
Page : 132 pages
File Size : 47,5 Mb
Release : 2013
Category : Business & Economics
ISBN : 1628081082

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Pension Benefit Guaranty Corporation by Stan Dupont Pdf

This book provides background and analysis of the premiums charged by the Pension Benefit Guaranty Corporation (PBGC), which is a government-owned corporation that was created in 1974 to protect the retirement income of participants in private-sector, defined benefit (DB) pension plans. When a company terminates a DB pension plan that does not have enough assets to pay 100% of the promised benefits, PBGC pays, in accordance with statute and up to a maximum yearly dollar amount, the benefits to participants in the terminated plan. In FY2012, 887,000 individuals received $5.5 billion in benefit payments from PBGC. An additional 614,000 workers will receive benefits when they retire. PBGC consists of two insurance programs: (1) a multiemployer pension program, which protects the benefits of 10.3 million participants in collectively bargained DB pensions in which several employers make contributions, and (2) a larger single-employer pension program, which protects the benefits of 33.4 million participants in DB pensions operated by one employer for its eligible employees.

Author : Anonim
Publisher : Unknown
Page : 150 pages
File Size : 45,6 Mb
Release : 1995
Category : Defined benefit pension plans
ISBN : UCR:31210024941724

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Retirement Benefits of American Workers by Anonim Pdf

Author : U.s. Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 96 pages
File Size : 51,6 Mb
Release : 2017-08-03
Category : Electronic
ISBN : 197420202X

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Pension Benefit Guaranty Corporation by U.s. Government Accountability Office Pdf

" At the end of fiscal year 2011, PBGC insured the pension benefits of 44 million U.S. workers, retirees, and beneficiaries in about 27,000 private defined benefit plans. PBGC's 2011 net accumulated deficit of $26 billion, coupled with future risks posed by plan sponsors and their plans, threatens PBGC's solvency. To help contain PBGC's deficit, Congress recently passed legislation increasing PBGC premiums. Beyond simply increasing rates, the administration has proposed granting PBGC authority to redesign its premium structure to more fully reflect the risk of new claims. To better understand the issues involved, GAO was asked to examine (1) the options available to adjust premiums to improve PBGC's financial condition; (2) the potential implications of adjusting premiums; and (3) the potential implementation challenges in moving to a more risk-based premium structure. To conduct this work, GAO reviewed relevant legislation, analyzed PBGC premium data, and interviewed officials implementing other risk-based premium structures in this country and the United Kingdom, as well as numerous experts and plan sponsors reflecting a broad spectrum of perspectives on the topic. "

Author : David Blitzstein,Olivia S. Mitchell,Stephen P. Utkus
Publisher : Oxford University Press on Demand
Page : 270 pages
File Size : 54,6 Mb
Release : 2006-08-03
Category : Business & Economics
ISBN : 9780199204656

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Restructuring Retirement Risks by David Blitzstein,Olivia S. Mitchell,Stephen P. Utkus Pdf

Highlighting retirement security as a major policy concern, this book addresses the question 'What are the risks & rewards in pensions, & what paths can stakeholders chose to solve these problems?'. It deals with employees' needs & expectations, employers' intentions & realizations, & policymakers' efforts to resolve the many challenges.

Author : Zvi Bodie,John B. Shoven,David A. Wise
Publisher : University of Chicago Press
Page : 390 pages
File Size : 54,8 Mb
Release : 2007-12-01
Category : Business & Economics
ISBN : 9780226062907

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Issues in Pension Economics by Zvi Bodie,John B. Shoven,David A. Wise Pdf

In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.

Author : United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Financial Management, the Budget, and International Security
Publisher : Unknown
Page : 164 pages
File Size : 43,7 Mb
Release : 2004
Category : Business & Economics
ISBN : UCAL:B5141770

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Safeguarding America's Retirement Security by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Financial Management, the Budget, and International Security Pdf

Author : United States. Congress. House. Committee on Education and Labor
Publisher : Unknown
Page : 28 pages
File Size : 43,9 Mb
Release : 2012
Category : Educational law and legislation
ISBN : UCR:31210020561740

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Report on the Activities of the Committee on Education and Labor During the ... Congress by United States. Congress. House. Committee on Education and Labor Pdf

Author : United States. Congress. House. Committee on Education and the Workforce
Publisher : Unknown
Page : 28 pages
File Size : 40,8 Mb
Release : 2012
Category : Educational law and legislation
ISBN : STANFORD:36105050612485

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Report on the Activities of the Committee on Education and the Workforce Together with Minority Views by United States. Congress. House. Committee on Education and the Workforce Pdf