Download or read book Defined Benefit Pension Reform for Single employer Plans written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report outlines the complex current law governing the funding of single employer defined benefit pension plans. It discusses the role of the PBGC [Pension Benefit Guaranty Corporation] in insuring pension benefits, the structure of the premiums that single-employer plans must pay the PBGC, and the benefits guaranteed by the PBGC in exchange for the payment of premiums. The report also describes reporting and disclosure requirements that apply to plans. The Administration, early in 2005, proposed comprehensive reform of pension funding rules, PBGC premium structure, and reporting and disclosure requirements. Under the proposed approach, the interest rates used for pension funding would be based on a yield curve of corporate bond rates. This report describes the Administration proposal and provides a simple example to illustrate calculation of a liability using a yield curve. Elements of the Administration proposal form the basis of some of the bills that have been introduced in the 109th Congress. Other bills emphasize features not included in the Administration proposal. Several bills have been introduced in the 109th Congress including H.R. 2830 (the Pension Protection Act of 2005), S. 219, (the National Employee Savings and Trust Equity Guarantee Act of 2005), and H.R. 1960 and H.R. 1961 (each titled the Pension Preservation and Savings Expansion Act of 2005). Other bills include H.R. 2233, S. 991, H.R. 2327, S. 1158, S. 685, H.R. 2106, and S. 861. This report includes quantitative analysis based on regulatory filings by pension plans for 2001 and 2002 to provide an assessment of the number of plans that might be affected by certain elements of the Administration proposal. It also summarizes the reaction to the Administration proposal by business and labor. The report also includes an illustration of the effect on a hypothetical plan sponsor's plan contribution and funded ratio of the credit balance approach used in current law versus the Administration proposal. The PBGC also insures multiemployer pension plans. The laws and issues relating to multiemployer plans are quite different than for single-employer plans. This report focuses on single-employer plans. This report will be updated upon major legislative developments.

Download or read book Defined Benefit Pension Reform for Single Employer Plans written by Neela K Ranade and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report includes quantitative analysis based on regulatory filings by pension plans for 2001 and 2002 to provide an assessment of the number of plans that might be affected by certain elements of the Administration proposal. It also summarizes the reaction to the Administration proposal by business and labor. The report also includes an illustration of the effect on a hypothetical plan sponsor’s plan contribution and funded ratio of the credit balance approach used in current law versus the Administration proposal. This report focuses on single-employer plans.

Download or read book Defined Benefit Pension Reform for Single Employer Plans written by and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is considerable interest this year in reform of the laws governing funding of single-employer defined benefit pension plans and premium structure for the Pension Benefit Guaranty Corporation (PBGC). Large and growing deficits for the PBGC and continued underfunding of pension plans, particularly for financially weak companies, are the major reasons behind the push for reform. This report outlines the complex current law governing the funding of singleemployer defined benefit pension plans. It discusses the role of the PBGC in insuring pension benefits, the structure of the premiums that single-employer plans must pay the PBGC, and the benefits guaranteed by the PBGC in exchange for the payment of premiums. The report also describes reporting and disclosure requirements that apply to plans. The Administration, early in 2005, proposed comprehensive reform of pension funding rules, PBGC premium structure, and reporting and disclosure requirements. Under the proposed approach, the interest rates used for pension funding would be based on a yield curve of corporate bond rates. This report describes the Administration proposal and provides a simple example to illustrate calculation of a liability using a yield curve. Elements of the Administration proposal form the basis of some of the bills that have been introduced in the 109th Congress. Other bills emphasize features not included in the Administration proposal. Several bills have been introduced in the 109th Congress including H.R. 2830 (the Pension Protection Act of 2005), S. 219, (the National Employee Savings and Trust Equity Guarantee Act of 2005), and H.R. 1960 and H.R. 1961 (each titled the Pension Preservation and Savings Expansion Act of 2005). Other bills include H.R. 2233, S. 991, H.R. 2327, S. 1158, S. 685, H.R. 2106, and S. 861. This report includes quantitative analysis based on regulatory filings by pension plans for 2001 and 2002 to provide an assessment of the number of plans that might be affected by certain elements of the Administration proposal. It also summarizes the reaction to the Administration proposal by business and labor. The report also includes an illustration of the effect on a hypothetical plan sponsor's plan contribution and funded ratio of the credit balance approach used in current law versus the Administration proposal. The PBGC also insures multiemployer pension plans. The laws and issues relating to multiemployer plans are quite different than for single-employer plans. This report focuses on single-employer plans. This report will be updated upon major legislative developments.

Download or read book Examining Long term Solutions to Reform and Strengthen the Defined Benefit Pension System written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations and published by . This book was released on 2004 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The retirement security crisis written by United States. Congress. House. Committee on Education and the Workforce and published by . This book was released on 2005 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book President s Proposal for Single employer Pension Funding Reform written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures and published by . This book was released on 2005 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming and Strengthening Defined Benefit Plans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations and published by . This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Private Pensions written by Barbara Bovbjerg (au) and published by DIANE Publishing. This book was released on 2005-11 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent terminations of large underfunded pension plans, along with continued widespread underfunding, suggest weaknesses in pension funding rules that may threaten retirement incomes of these plans' participants, as well as the future viability of the Pension Benefit Guaranty Corp. (PBGC) single-employer insurance program. This report examines: (1) the recent funding & contribution experience of the nation's largest private defined benefit plans; (2) the funding & contribution experience of large underfunded plans, & the role of the additional funding charge; & (3) the implications of large plans' recent funding experiences for PBGC, in terms of risk to the agency's ability to insure benefits. Charts & tables.

Download or read book Pension Reform and Simplification written by United States. Congress. House. Committee on Small Business and published by . This book was released on 1996 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Report on Reform of the Federal Government s Pension Benefit Guarantee Program written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 1993 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Predictable Secure Pension for Life written by and published by Pension Benefit Guaranty Corporatiom. This book was released on 2000 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Overview of Current Issues Relating to Single employer Defined Benefit Pension Plans and Pension Benefit Guaranty Corporation PBGC Premiums written by and published by . This book was released on 1987 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Private Pensions written by United States. General Accounting Office and published by . This book was released on 1997 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Reform written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1999 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Promoting and Expanding Pensions for American Workers written by United States. Congress. House. Committee on Economic and Educational Opportunities. Subcommittee on Employer-Employee Relations and published by . This book was released on 1996 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Private pensions plan features provided by employers that sponsor only defined contribution plans report to the Chairman Subcommittee on Civil Service Committee on Government Reform and Oversight House of Representatives written by and published by DIANE Publishing. This book was released on with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Reform for Small Business written by United States. Congress. House. Committee on Small Business and published by . This book was released on 2001 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: