Download or read book Overfunding and Underfunding of Pension Plans written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor and published by . This book was released on 1988 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Funding Discipline for U S Public Pension Plans written by Natalya Shnitser and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using newly collected data on over 100 state-administered pension plans, this Article shows that previously overlooked differences in institutional design are associated with the striking variation in funding discipline across U.S. public pension plans. As state and local governments grapple with unfunded pension obligations, this Article presents a timely examination of public plan governance across two key dimensions: the allocation of control over funding decisions and the transparency with respect to funding liabilities. It shows empirically that greater constraints on legislative control over funding decisions -- typically through the delegation of control to pension-system boards -- have been associated with better funding discipline. Conversely, liability-pooling arrangements that have shrouded individual employer responsibility for underfunding have been associated with worse funding discipline. These findings should inform current reform efforts to address the multi-trillion dollar shortfall in pension funding. To date, such state and local government efforts have focused primarily on scaling back benefits for public employees but have overlooked the role of institutions in explaining why some public employers have consistently contributed to the pension funds while others have failed to set adequate contribution rates or have withheld promised funds.
Download or read book Underfunding of State and Local Pension Plans written by Frank Russek and published by DIANE Publishing. This book was released on 2011-08 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis and economic recession have left many states and localities with extraordinary budgetary difficulties for the next few years, but structural shortfalls in their pension plans pose a problem that is likely to endure for much longer. This report discusses alternative approaches to assessing the size of those shortfalls and their implications for funding decisions. Figure and table. This is a print on demand edition of an important, hard-to-find report.
Download or read book Underfunded Pension Plans written by Joseph F. Delfico and published by . This book was released on 1994 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Overfunding and underfunding of pension plans written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor and published by . This book was released on 1988 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State and Local Pension Fund Management written by Jun Peng and published by CRC Press. This book was released on 2008-08-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intense media coverage of the public pension funding crisis continues to fuel heightened awareness in and debate over public pension benefits. With over $3 trillion in assets currently under management, the ramifications of poor oversight are severe. It is important that practitioners, researchers, and taxpayers be well-advised regarding any concer
Download or read book Underfunded Pension Plans written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO discussed its ongoing study of current pension plan funding rules and the impact of proposed pension reform legislation on underfunded plans insured by the Pension Benefit Guaranty Corporation (PBGC). GAO noted that: (1) underfunding in PBGC-insured single-employer plans increased from $31 billion in 1990 to over $50 billion in 1992; (2) current law provides for an offset that either completely eliminates or significantly reduces requirements that sponsors of underfunded plans make additional funding contributions; (3) H.R. 298 would require even fewer plan sponsors to make additional but significantly larger funding contributions; (4) H.R. 3396 would increase the number of sponsors required to make additional contributions and also increase the contribution amount; (5) a solvency rule, actuarial restrictions, and increased deficit reduction contributions included in H.R. 3396 could also increase contributions for underfunded plans; and (6) H.R. 3396 should be strengthened further to ensure that more sponsors of underfunded plans make additional contributions.
Download or read book Overfunding and underfunding of pension plans written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor and published by . This book was released on 1988 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risky Business written by Association of Private Pension and Welfare Plans and published by . This book was released on 1989 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Look Into the United States Underfunded Pension System written by and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The public pension crisis has come under increasing scrutiny over the past decade as shifting demographic trends, harsh economic conditions and the very nature of pension funds have changed, and not for the better. Pension funds create valuable saving and investment tools for an individual's retirement. They make what seems like the impossible daunting task of saving sufficient funds for retirement completely feasible. All indications lead to these trends continuing, therefore pension plans need to adapt and reform. This paper is to address the pension crisis in the U.S. and intends to provide some recommendations for policy makers. This paper used the U.S. Census Bureau pension data for the fiscal years 2005-2014 to select a sample of 15 states. The time series data will be analyzed using the MDA (Multiple Discriminant Analysis) methodology to assess if a pension plan is bound to fail. MDA is used in the banking industry as a method to predict financial distress or default of bank
Download or read book Impact of Underfunded Defined Benefit Pension Plans on the Federal Deficit Plan Retirees and Plan Sponsors written by U. S. Committee On Ways And Means and published by Forgotten Books. This book was released on 2018-02-15 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Impact of Underfunded Defined-Benefit Pension Plans on the Federal Deficit, Plan Retirees, and Plan Sponsors: Hearing Before the Subcommittee on Oversight of the Committee on Ways and Means, House of Representatives, One Hundred Third Congress, First Session; February 4, 1993; Serial 103-4 These and other problems for participants could be avoided if pension plan sponsors properly funded their pension promises. And yet, nearly 20 years after the passage of the Employee Retirement Income Security Act, some plan sponsors continue to deliberately underfund their defined-benefit plans, putting their employees and taxpayers at economic risk. The Subcommittee will receive testimony from representatives of the pbgc, the Congressional Budget Office (ceo), the gao, and retirees who participated in various failed pension plans which were terminated without sufficient assets. The pbgc will testify on the extent of current financial problems confronting the agency, the effectiveness of its efforts to control its exposure to claims by underfunded pension plans, and its efforts to mitigate the effect of plan underfunding on plan participants. The ceo will testify concerning the extent of the losses experienced by the pbgc and the inability of the agency to measure, control, and offset these losses, and other budget matters. The gao will testify on its recently released reports indicating that underfunded defined-benefit pension plans have significant hidden liabilities which increase claims against the Federal pension insurance program, and identifying the pbgc as one of 17 high risk Federal program areas in which corrective action is essential to the safeguarding of scarce Federal resources. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Issues in Pension Economics written by Zvi Bodie and published by University of Chicago Press. This book was released on 1987-03-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Public Pensions written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments. GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion in 1992; (3) contributions to pension funds in 1992 fell short of the actuarially required amounts by 60 percent; (4) 75 percent of state and local pension plans involved in a Public Pension Coordinating Council (PPCC) survey were underfunded; (5) more than half of the pension plan sponsors surveyed continued to make payments to pay off their unfunded liabilities; (6) between 1990 and 1992, 20 percent of the plans were both underfunded and not receiving required sponsor contributions; and (7) of 117 plans with complete data in 1990 and 1992, 90 were underfunded.
Download or read book Private Pensions Series Protecting Pensions Policy Analysis and Examples from OECD Countries written by OECD and published by OECD Publishing. This book was released on 2007-11-07 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at various methods of protecting pension benefits. It provides in-depth information on the application of these methods in OECD countries and analyses their advantages and drawbacks.
Download or read book Pension Insurance Data Book written by and published by . This book was released on 2002 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Look Into the United States Underfunded Pension System written by Jason Lin and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The public pension crisis has come under increasing scrutiny over the past decade as shifting demographic trends, harsh economic conditions and the very nature of pension funds have changed, and not for the better. Pension funds create valuable saving and investment tools for an individual's retirement. They make what seems like the impossible daunting task of saving sufficient funds for retirement completely feasible. All indications lead to these trends continuing, therefore pension plans need to adapt and reform. This paper is to address the pension crisis in the U.S. and intends to provide some recommendations for policy makers.This paper used the U.S. Census Bureau pension data for the fiscal years 2005-2014 to select a sample of 15 states. The time series data will be analyzed using the MDA (Multiple Discriminant Analysis) methodology to assess if a pension plan is bound to fail. MDA is used in the banking industry as a method to predict financial distress or default of bank loans. Once the regression line is determined, it can be utilized to estimate the probability of default. This methodology will be used to determine financial health of public pensions selected in the sample.The Multiple Discriminant Analysis model can be utilized to run a stress test on the public pension plans of those states selected in the sample. The Multiple Discriminant Analysis will enable public pensions and policy makers to somewhat predict the viability of their pensions. The contribution of this paper will be providing pre-warning signals and some policy recommendations for local governments to sustain their pension systems.
Download or read book Corporate Pension Plan Funding Levels and Pension Assumptions written by Alexander George Michaelides and published by . This book was released on 2019 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a difference-in-differences approach to examine the causal impact of the funding ratios of U.S. corporate defined benefit (DB) pension plans on the assumption of expected return on pension assets (EROA). To make the causal case, we use the 2008 global financial crisis as an exogenous shock to the funding ratio of DB pension plans, and the simultaneous implementation of the Pension Protection Act, which emphasized the accountability of underfunded pension plans. We find that DB pension plans making the transition from fully funded to underfunded status over this period significantly revise their EROA assumption upward. The upward revisions in EROA are economically significant and generate obligation-reducing outcomes for corporate plans sponsors: a switch from fully funded to underfunded status generates at least a 40 (and up to a 80) basis point increase in EROA, which, in turn, corresponds to an average annual reduction in pension contributions of $6 (to $11) million.
