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3 edition of Financial condition of the Pension Benefit Guaranty Corporation found in the catalog.

Financial condition of the Pension Benefit Guaranty Corporation

Financial condition of the Pension Benefit Guaranty Corporation

statement of Joseph F. Delfico, Director, Income Security Issues, Human Resources Division, before the Subcommittee on Oversight, Committee on Ways and Means, House of Representatives

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Published by The Office, The Office [distributor in [Washington, D.C.], [Gaithersburg, MD] (P.O. Box 6015, Gaithersburg 20884-6015) .
Written in English

    Subjects:
  • Pension Benefit Guaranty Corporation -- Auditing.,
  • Insurance, Pension trust guaranty -- United States -- Finance -- Evaluation.

  • Edition Notes

    StatementUnited States General Accounting Office.
    SeriesTestimony -- GAO/T-HRD-92-52.
    ContributionsUnited States. General Accounting Office.
    The Physical Object
    FormatMicroform
    Pagination7, [2] p.
    ID Numbers
    Open LibraryOL18055626M

    Pension Benefit Guaranty Corporation Office of Inspector General Audit Report. Novem AUD /FA Report on Internal Controls Related to the Pension Benefit Guaranty Corporation’s Fiscal. Year and Financial Statements Audit. Summary vii Introduction: The Pension Benefit Guaranty Corporation and the Employee Retirement Income Security Act 1 Estimates of PBGC’s Shortfall 3 A Prospective Market-Value Measure 5 CBO’s Estimates 6 Options to Reduce Federal Costs 8 Changing Premiums 8 Regulating Pension-Investment Risk 10 Changing the Rules for Calculating Pension Liabilities .

    Pension Benefit Guaranty Corporation(PBGC): A Primer increases in the annual rate of growth in the average national wage. 59 increased the single- employer flat-rate premium to $57 in and $64 in File Size: KB. RFI on multiemployer plan two-pool alternative withdrawal liability arrangements: The Pension Benefit Guaranty Corporation is publishing a request for information (RFI) in the Federal Register seeking input on proposed "two-pool" alternative withdrawal liability arrangements. These arrangements involve an alternative method for measuring the withdrawal liability amount and .

    Thomas Reeder, the director of the Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures pensions of workers and retirees . The Pension Benefit Guaranty Corporation (PBGC) released its FY annual report noting improvement in the financial condition of the agency’s Single-Employer Insurance and Multiemployer Insurance Programs.. In , the PBGC single employer program showed a positive net position of $ billion as of Septem , emerging from a deficit of $ .


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Financial condition of the Pension Benefit Guaranty Corporation Download PDF EPUB FB2

For each of PBGC's insurance programs, the book includes data tables on the people receiving or eligible to receive benefits from PBGC Financial condition of the Pension Benefit Guaranty Corporation book the agency's benefit payments, the financial condition of the program, the people and plans protected by the program, and the overall funding level of the pension plans covered by the program.

Find out about PBGC's annual operations, as well as our current and future anticipated financial condition, through our Annual Reports. These reports are required under Title IV of the Employee Retirement Income Security Act (ERISA).

Annual Report. Annual Report. Actuarial Report. Annual Report. Actuarial Report. GAO discussed the Pension Benefit Guaranty Corporation's (PBGC) financial position.

GAO noted that: (1) although PBGC cash flow is currently sufficient to meet its current benefit obligations, its deficit is large and threatens to become larger because of increasing plan underfunding by companies; (2) proposed legislation would limit future liabilities, but does not.

A vital part of that security for nearly 40 million workers, retirees, and beneficiaries comes from private traditional defined benefit pension plans. Our mission at the Pension Benefit Guaranty Corporation is to protect the predictable, lifetime retirement income that comes from those plans.

Our talented professionals work diligently to enhance retirement security and carry. Get this from a library. Financial condition of the Pension Benefit Guaranty Corporation: hearing before the Subcommittee on Oversight of the Committee on Ways and Means, House of Representatives, One Hundred Second Congress, second session, Aug [United States.

Congress. House. Committee on Ways and Means. Subcommittee on Oversight.]. 2 A GUIDE TO UNDERSTANDING THE PENSION BENEFIT GUARANTY CORPORATION Figure 1. PBGC’s Net Financial Position, to (Billions of dollars) Source: Pension Benefit Guaranty Corporation, Pension Insurance Data Book,no.

9 (Spring ). and liabilities of terminated plans. But those premiums. GAO discussed the Pension Benefit Guaranty Corporation's (PBGC) financial condition. GAO noted that: (1) the PBGC deficit, which has grown significantly in recent years, totalled $ billion at the end of fiscal year ; (2) large unfunded liabilities in the plans it currently insures present the greatest threat to PBGC, which estimates that its deficit could grow to $ billion by The Pension Benefit Guaranty Corporation (PBGC or the Corporation) is a federal corporation created by Title IV of the Employee Retirement Income Security Act of (ERISA) and is subject to the provisions of the Government Corporation Control Act.

Its activities are defined by ERISA, as that act has been amended over the Size: 9MB. Options to Improve the Financial Condition of the Pension Benefit Guaranty Corporation’s Multiemployer Program. August 2, Report.

The pensions of some 10 million people are insured by the Pension Benefit Guaranty Corporation’s multiemployer program. CBO projects future claims on the program and losses to its beneficiaries and analyzes. The Pension Benefit Guaranty Corporation (PBGC) is a self-financing government corporation that insures the pensions of 44 million workers in more t private sector defined benefit pension plans.

Yet, PBGC faces financial instability that could pose a future threat to this source of protection for Americans' retirement income. A Guide to Understanding the Pension Benefit Guaranty Corporation. September 1, Report. View Document.

Related Publications. Options to Improve the Financial Condition of the Pension Benefit Guaranty Corporation’s Multiemployer Program.

August 2, Stay Connected. Get CBO’s Email Updates. Email Address. Note: agency comments for the listed reports are available upon request. The Projections Report illustrates the future financial condition of PBGC's two insurance programs. The report is required by ERISA and forecasts 10 years into the future.

The Projections Report was formerly called the Exposure Report. PBGC Projections Report FY OnPBGC released its FY Projections Report, an annual actuarial evaluation forecasting the future financial condition of PBGC’s two separate programs (Single Employer and Multiemployer).

The new projections are broadly consistent with last year’s projections and indicate that, absent changes in law or additional. PBGC to Provide Early Financial Assistance to Local Multiemployer Pension Plan November 16 PBGC Reports Improved Financial Condition Single-Employer Program Emerges from Deficit; Multiemployer Program Narrows Deficit – Insolvency Still Looms.

The Pension Benefit Guaranty Corporation (PBGC) protects the pensions of approximately 43 million workers and retirees in more than 25 thousand private defined benefit pension plans.

Under Title IV of the Employee Retirement Income Security Act ofPBGC insures, subjectFile Size: KB. WASHINGTON - The Pension Benefit Guaranty Corporation (PBGC) today released the Pension Insurance Data Bookwhich offers information on statistical trends related to defined benefit retirement plans "in the private sector.

The Data Book features an article examining the characteristics of standard terminations, the most common procedure used to. Options to Improve the Financial Condition of the Pension Benefit Guaranty Corporation’s Multiemployer Program Summary The Pension Benefit Guaranty Corporation (PBGC) is a government-owned corporation responsible for insur-ing the benefits of 41 million people who participate in defined benefit pension plans provided by private.

WASHINGTON-The Pension Benefit Guaranty Corporation (PBGC) today released the Pension Insurance Data Bookwhich offers information on statistical trends related to defined benefit retirement plans in the private sector.

The new edition features a detailed article on the smaller of the agency's two pension insurance programs, which provides financial assistance to insolvent multiemployer pension plans. The Financial Health of the Pension Benefit Guaranty Corporation (PBGC) Summary The Pension Benefit Guaranty Corporation (PBGC) is a federal government agency created by the Employee Retirement Income Security Act of (ERISA) to protect the pensions of participants covered by most private sector, defined benefit pension plans.

The PBGC receives no. The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums Agency executive: Gordon Hartogensis, Director.Pension Benefit Guaranty Corporation.

Office of Inspector General. Audit Report. Novem AUD /FA Audit of the. Pension Benefit Guaranty Corporation’s. Fiscal Year and Financial StatementsFile Size: 1MB.Pension Benefit Guaranty Corporation Office of Inspector General Audit Report.

Novem AUD / FA Audit of the Pension Benefit Guaranty Corporation's Financial Statement Closing. Package for Fiscal Year and File Size: 1MB.