Retirement income (51 - 60 of 92 items)
Private Pensions: Information on Cash Balance Pension Plans
GAO-06-42: Published: Nov 3, 2005. Publicly Released: Nov 3, 2005.
The nation's private defined benefit (DB) pension system, a key contributor to the financial security of millions of Americans, is in long-term decline. Since 1980, the number of active participants in Pension Benefit Guaranty Corporation (PBGC) insured single employer DB plans has dropped from 27.3 percent of all national private wage and salary workers in 1980, to about 15 percent in 2002, and m...
Highlights of a GAO Forum: The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation
GAO-05-578SP: Published: Jun 1, 2005. Publicly Released: Jun 1, 2005.
Employer-sponsored defined benefit pension plans face unprecedented challenges in the midst of significant changes in our nation's retirement landscape. Many defined benefit plans and the federal agency that insures them, the Pension Benefit Guaranty Corporation (PBGC), have accumulated large and growing deficits that threaten their survival. Meanwhile, the percentage of American workers covered b...
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...
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: Intergenerational Comparisons of Wealth and Future Income
GAO-03-429: Published: Apr 25, 2003. Publicly Released: Apr 25, 2003.
Today's workers will rely to a large extent on Social Security, private pensions, and personal wealth for their retirement income. But some analysts question whether these sources will provide sufficient retirement income to maintain workers' standards of living once they leave the labor force. Indeed, the Social Security trust funds are projected to become exhausted in 2042, at which time, unless...
Social Security Reform: Information on Using a Voluntary Approach to Individual Accounts
GAO-03-309: Published: Mar 10, 2003. Publicly Released: Apr 9, 2003.
Many proposals have been offered to restructure the U.S. Social Security system to include individual retirement savings accounts. However, some key proposals would make participation in the accounts voluntary rather than mandatory. While any individual account plan can offer a variety of choices regarding contributions, investments, and withdrawals, the choice of whether or not to participate is...
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...
Cash Balance Plans: Implications for Retirement Income
HEHS-00-207: Published: Sep 29, 2000. Publicly Released: Sep 29, 2000.
Pursuant to a congressional request, GAO provided information on the implications of using cash balance plans for retirement income, focusing on the: (1) prevalence and features of cash balance plans; (2) factors employers considered in making a decision about whether or not to use a cash balance formula; (3) effects of using cash balance formulas on the adequacy of individual workers' retirement...
Social Security Reform: Implications for Private Pensions
HEHS-00-187: Published: Sep 14, 2000. Publicly Released: Sep 14, 2000.
Pursuant to a congressional request, GAO provided information on the interactions between Social Security and private pensions, focusing on the: (1) primary linkages between Social Security and private pensions and the way they interact to provide retirement income for workers and families; (2) effects of traditional Social Security reforms on the structure of employer-sponsored pension plans thro...
Social Security Reform: Implications of Private Annuities for Individual Accounts
HEHS-99-160: Published: Jul 30, 1999. Publicly Released: Jul 30, 1999.
Pursuant to a congressional request, GAO provided information on the implications of establishing individual social security accounts, focusing on: (1) the effect individual social security accounts might have on the existing annuities market; (2) factors that affect the amount of annuity payments; and (3) the potential role of the federal government in regulating the annuities market if individua...