Pensions (51 - 60 of 154 items)
Private Pensions: Multiemployer Pensions Face Key Challenges to Their Long-Term Prospects
GAO-04-542T: Published: Mar 18, 2004. Publicly Released: Mar 18, 2004.
Multiemployer defined benefit pension plans, which are created by collective bargaining agreements covering more than one employer and generally operated under the joint trusteeship of labor and management, provide coverage to over 9.7 million of the 44 million participants insured by the Pension Benefit Guaranty Corporation (PBGC). The recent termination of several large single-employer plans--pl...
Private Pensions: Timely and Accurate Information Is Needed to Identify and Track Frozen Defined Benefit Plans
GAO-04-200R: Published: Dec 17, 2003. Publicly Released: Dec 17, 2003.
While private-sector pensions help millions of Americans achieve retirement income security, the number of private defined benefit (DB) plans1 has declined substantially over the past two decades. Recently, those concerned with the viability of the private defined benefit pension system point to significant increases in pension contributions plan sponsors must make and to the fact that most plans...
Pension Benefit Guaranty Corporation: Long-Term Financing Risks to Single-Employer Insurance Program Highlight Need for Comprehensive Reform
GAO-04-150T: Published: Oct 14, 2003. Publicly Released: Oct 14, 2003.
More than 34 million workers and retirees in 30,000 single-employer defined benefit pension plans rely on a federal insurance program managed by the Pension Benefit Guaranty Corporation (PBGC) to protect their pension benefits, and the program's long-term financial viability is in doubt. Over the last decade, the program swung from a $3.6 billion accumulated deficit (liabilities exceeded assets),...
Options to Encourage the Preservation of Pension and Retirement Savings: Phase 2, an E-supplement to GAO-03-810
GAO-03-990SP: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
This document presents the results from a survey of a panel of experts in the area of pensions and retirement to a questionnaire on options to encourage the preservation of pension and retirement plan savings. We developed a web-based questionnaire to obtain the data. The items in the questionnaire were compiled from a list of factors these experts identified in an earlier data collection effort....
Private Pensions: Participants Need Information on Risks They Face in Managing Pension Assets at and during Retirement
GAO-03-810: Published: Jul 29, 2003. Publicly Released: Jul 29, 2003.
The decisions that retiring workers make about how and when to draw down their pension plan assets determine in part whether they will have pension income that lasts throughout retirement. Individuals will need pension and other retirement income to sustain them over a longer period of time than in the past. Moreover, the continuing trend towards pension plans with individual accounts has increase...
Retirement Income Data: Improvements Could Better Support Analysis of Future Retirees' Prospects
GAO-03-337: Published: Mar 21, 2003. Publicly Released: Mar 21, 2003.
Future demographic trends include a doubling of the nation's retiree population and only modest labor force growth, leading to concerns about retirement income adequacy for future generations. Credible projections of the effects of policy proposals on federal spending and future retirees' income are necessary. Because adequate data is critical to the analysis of retirement income and wealth, GAO w...
Older Workers: Policies of Other Nations to Increase Labor Force Participation
GAO-03-307: Published: Feb 13, 2003. Publicly Released: Feb 27, 2003.
In recent years, the challenges of aging populations have become a topic of increasing concern to the developed nations. These challenges range from the fiscal imbalance in national pension systems caused by fewer workers having to provide benefits for greater numbers of retirees, to potential economic strains due to shortages of skilled workers. Part of the solution to these challenges could be...
Private Pensions: Participants Need Information on the Risks of Investing in Employer Securities and the Benefits of Diversification
GAO-02-943: Published: Sep 6, 2002. Publicly Released: Oct 7, 2002.
The financial collapse of large firms and the effects on workers and retirees has raised questions about retirement funds being invested in employer securities and the laws governing such investments. Pensions are important source of income of many retirees, and the federal government has encouraged employers to sponsor and maintain pension and savings plans for their employees. The continued grow...
Answers to Key Questions about Private Pension Plans
GAO-02-745SP: Published: Sep 18, 2002. Publicly Released: Sep 18, 2002.
This primer on private pensions provides information on the basic features of the private pension plan system and the federal framework that governs how private plans must operate. GAO answers questions about the types of plans that private employers may sponsor, the benefits these plans provide, and the basic requirements that govern how these plans are administered...
Private Pensions: Improving Worker Coverage and Benefits
GAO-02-225: Published: Apr 9, 2002. Publicly Released: Apr 9, 2002.
Although pensions are an important source of income for many retirees, millions of workers lack individual pension coverage. Only half of the nation's workers have been covered by private employer-sponsored pensions since the 1970s. Traditional reforms to the voluntary, single-employer-based pension system have limited potential to expand pension coverage and improve worker benefits. These pension...