Private Pensions Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding

By General Accounting Office

Book Id: WPLBN0000221702
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005

Title:	Private Pensions Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding
Author:	General Accounting Office
Volume:
Language:	English
Subject:	Government publications, Accountability in government, United States. General Accounting Office
Collections:	Government Library Collection, Government Accountability Integrity Reliability Office Collection
Historic Publication Date:
Publisher:	United States General Accounting Office (Gao)


Citation APA MLA Chicago Office, G. A. (n.d.). Private Pensions Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding. Retrieved from http://www.gutenberg.cc/

Description
Government Accountability Integrity Reliability Office Collection

Excerpt
Excerpt: Recent terminations of severely underfunded pension plans suggest that current funding rules do not provide adequate mechanisms for maintaining adequate funding of pension plans. Funding inadequacies place the retirement security of millions of American workers and retirees, along with PBGC, at risk. While external factors, such as falling stock prices, low interest rates, and slow economic growth, have contributed to widespread pension underfunding, the defined-benefit system also faces structural problems that extend beyond cyclical economic conditions. Stagnant growth of the defined-benefit system, along with several large recent terminations of underfunded pension plans, has left PBGC in a precarious financial condition as the insurer of pension benefits.