The Future Of The Defined Benefit System And The Pension Benefit Guaranty Corporation
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| Author | : Barbara D. Bovbjerg (au) |
| Publisher | : DIANE Publishing |
| Total Pages | : 66 |
| Release | : 2005-09 |
| Genre | : Law |
| ISBN | : 9781422300534 |
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.
| Author | : |
| Publisher | : DIANE Publishing |
| Total Pages | : 22 |
| Release | : |
| Genre | : |
| ISBN | : 1437943713 |
| Author | : |
| Publisher | : |
| Total Pages | : |
| Release | : 2005 |
| Genre | : Defined benefit pension plans |
| ISBN | : |
| Author | : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions |
| Publisher | : |
| Total Pages | : 108 |
| Release | : 2013 |
| Genre | : Defined benefit pension plans |
| ISBN | : |
| Author | : United States. Congress. Senate. Committee on Finance |
| Publisher | : |
| Total Pages | : 192 |
| Release | : 2005 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Barbara D. Bovbjerg |
| Publisher | : DIANE Publishing |
| Total Pages | : 29 |
| Release | : 2009-05 |
| Genre | : Law |
| ISBN | : 1437910505 |
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.
| Author | : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 1991 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : United States. Congress. House. Committee on Education and the Workforce |
| Publisher | : |
| Total Pages | : 92 |
| Release | : 2004 |
| Genre | : Law |
| ISBN | : |
| Author | : Stan Dupont |
| Publisher | : |
| Total Pages | : 132 |
| Release | : 2013 |
| Genre | : Business & Economics |
| ISBN | : 9781628081084 |
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 | : Stan Dupont |
| Publisher | : Nova Science Publishers |
| Total Pages | : 0 |
| Release | : 2013 |
| Genre | : Business & Economics |
| ISBN | : 9781628081077 |
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.
