Oversight of the Pension Benefit Guaranty Corporation, 1982: Hearing Before the Subcommittee on Labor of the Committee on Labor and Human Resources, United States Senate, Ninety-seventh Congress, Second Session, on Examination of the Pension Benefit Guaranty Corporation Premium Increase, May 19, 1982U.S. Government Printing Office, 1982 - 192 páginas |
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Palavras e frases frequentes
administrative expenses amortization amount assumptions average basic benefits basis believe benefit claims Benefit Guaranty Corporation benefit payments claims experience coinsurance committee Congress Corporation's current funding deficit defined benefit plan dollar DON NICKLES DUZAK early retirement benefits effective January Employee Benefits employer liability Enrolled Actuary ERIC ERISA expected figure financial statements fiscal future claims going guaranteed benefits impact income incurred insurance system interest rates investment JONES large claims legislation ment month NEBI net claims number of participants O'BRIEN PBGC premium PBGC's claims Pension Benefit Guaranty pension plan terminates percent plan assets plan sponsors plan termination insurance premium increase premium level premium request premium requirements present value private pension problems projected RASKIN recommended required premium result Richard O'Brien Senator NICKLES September 30 SHEEHAN single employer plan single-employer program Steelworkers terminated plans termination insurance program unfunded liability unfunded vested liabilities United Steelworkers vested benefits ZEIGLER
Passagens conhecidas
Página 97 - The obvious intent (confirmed in interviews with company officials) was to convey the message that if employees choose to unionize, they would thereby endanger their jobs.
Página 177 - I am a consulting actuary with The Wyatt Company and am appearing here today on behalf of the National Small Business Association...
Página 89 - The purposes of this title, which are to be carried out by the corporation, are — (1) to encourage the continuation and maintenance of voluntary private pension plans for the benefit of their participants, (2) to provide for the timely and uninterrupted payment of pension benefits to participants and beneficiaries...
Página 91 - For example, the guaranteed benefit could be determined, as in the case of multiemployer plans, as 100 percent of the first $5 of monthly benefit per year of service plus 75 percent of the next $15 of monthly benefit per year of service.
Página 131 - I am testifying here today on behalf of the Association of Private Pension and Welfare Plans...
Página 60 - pay as you go" funding only requires that assets on hand be sufficient to pay specific monthly pension benefits when they fall due. •Current funding* results in having plans insured during a given period bear the cost of claims incurred during that period. Thus, current funding avoids, to the maximum extent possible, having pension plans in the future assume the burden for financing the cost associated with past insufficient plan terminations. Moreover, it tends to...
Página 50 - When the auditor has not obtained sufficient competent evidential matter to form an opinion on the fairness of the financial statements as a whole, he should state in his report that he is unable to express an opinion on such statements.
Página 49 - ... an analysis of insufficient plans that have terminated to date, as well as projections of the likely number and characteristics of future insufficient terminations, based upon that experience".
Página 49 - Pension Benefit Guaranty Corporation, Premium Requirements for the Single Employer Basic Benefits Insurance Program, Part 1, Summary Report, Washington: PBGC, 1977, pp.
Página 186 - American Society of Pension Actuaries 1413 K Street, NW, Fifth Floor Washington, DC 20005...