The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation
Author | : Barbara D. Bovbjerg (au) |
Publisher | : DIANE Publishing |
Total Pages | : 66 |
Release | : 2005-09 |
ISBN-10 | : 1422300536 |
ISBN-13 | : 9781422300534 |
Rating | : 4/5 (36 Downloads) |
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.