Download or read book The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation written by Barbara D. Bovbjerg (au) and published by DIANE Publishing. This book was released on 2005-09 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employer-sponsored defined benefit pension plans (DBPP) face unprecedented challenges in the midst of significant changes in our nation's retirement landscape. Many DBPP & the fed. agency that insures them, the Pension Benefit Guaranty Corp. (PBGC), have accumulated large & growing deficits that threaten their survival. Meanwhile, the percentage of Amer. workers covered by DBPP has been declining for 30 years, reflecting a movement toward defined contribution plans (e.g., 401(k) plans). To address these issues, a diverse group of knowledgeable individuals was convened -- incl. gov't. officials, researchers, accounting experts, actuaries, plan sponsor & employee group rep., & members of the investment community. Charts & tables.
Download or read book Pension Benefit Guaranty Corporation Improvements Needed to Strengthen Governance Structure and Strategic Management Testimony Before Committee on Health Education Labor and Pensions U S Senate written by and published by DIANE Publishing. This book was released on with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Highlights of a GAO Forum written by United States. Government Accountability Office and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Annual Report to the President and Congress written by Pension Benefit Guaranty Corporation and published by . This book was released on 1974 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Examining the Challenges Facing the Pension Benefit Guaranty Corporation and Defined Benefit Pension Plans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2013 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Benefit Guaranty Corporation Improvements Needed to Address Financial and Management Challenges written by Barbara D. Bovbjerg and published by DIANE Publishing. This book was released on 2009-05 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Pension Benefit Guaranty Corp. (PBGC) insures the retirement future of nearly 44 million people in more than 30,000 private-sector defined benefit pension plans. In July 2003, PBGC¿s single-employer pension insurance program was designated as ¿high risk,¿ meaning that it needed urgent attention and transformation. The program remains on the list today with a projected financial deficit of over $13 billion, as of Sept. 2007. Because Congress exercises oversight of PBGC, the author was asked to testify on: (1) the critical role PBGC plays in protecting the pension benefits of workers and how PBGC is funded; (2) the financial challenges facing PBGC; and (3) the PBGC¿s governance, oversight and management challenges. Tables.
Download or read book Financial Status of the Pension Benefit Guaranty Corporation and the Administration s Defined Benefit Plan Funding Proposal written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2005 with total page 192 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 Pension Benefit Guaranty Corporation s Program to Identify Collect and Account for Premium Payments Including Findings and Recommendations of the Subcommittee written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Defined Benefit Pensions written by Barbara D. Bovbjerg and published by DIANE Publishing. This book was released on 2009-02 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Annual Report to the Congress written by Pension Benefit Guaranty Corporation and published by . This book was released on 1978 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strengthening pension security and defined benefit plans written by United States. Congress. House. Committee on Education and the Workforce and published by . This book was released on 2004 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Defined Benefit Pension Plan System written by Joel B. Lang and published by . This book was released on 2004-06-01 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 No Guarantees written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2009 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Benefit Guaranty Corporation written by Stan Dupont and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Future of Pensions in the United States written by Ray Schmitt and published by University of Pennsylvania Press. This book was released on 1993 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of Contents
