Highlights of a GAO Forum: The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation
- Topics:
- Financial Regulations
- Tags:
- 401(k),
- Benefit Plan,
- Benefits,
- General Accounting Office,
- Human Resources,
- Payroll Solutions,
- Pension,
- Pension Benefit Guaranty Corp.,
- Retirement Plans
- Source:
- U.S. General Accounting Office
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Overview: Employer-sponsored defined benefit pension plans face unprecedented challenges in the midst of significant changes in the 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 by defined benefit plans has been declining for about 30 years, reflecting a movement toward defined contribution plans (e.g., 401(k) plans) and perhaps fundamental changes in how the society thinks about who should bear responsibility and risk for the retirement income security of American workers.
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Format: PDF | Size: 4,598KB | Date: Jun 2005 | Pages: 63
