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Author: Ronald L. Huling
Publisher:
ISBN:
Category : Old age pensions
Languages : en
Pages : 246
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Book Description
The report analyzes a review of multiemployer pension plans, conducted in 1978. It "includes a review of plan provisions and the development of multiemployer plan models, an analysis of the effects of ERISA [early retirement legislation] on these plans, an assessment of future trends, ... and an analysis of plan merger activity and plan provisions relating to employer withdrawal and reciprocity"--Page [i].
Author: Ronald L. Huling
Publisher:
ISBN:
Category : Old age pensions
Languages : en
Pages : 246
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Book Description
The report analyzes a review of multiemployer pension plans, conducted in 1978. It "includes a review of plan provisions and the development of multiemployer plan models, an analysis of the effects of ERISA [early retirement legislation] on these plans, an assessment of future trends, ... and an analysis of plan merger activity and plan provisions relating to employer withdrawal and reciprocity"--Page [i].
Author: Pension Benefit Guaranty Corporation
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 410
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Book Description
Author: Congressional Research Service
Publisher: CreateSpace
ISBN: 9781502841223
Category : Political Science
Languages : en
Pages : 24
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Book Description
Multiemployer defined benefit (DB) pension plans are pensions sponsored by more than one employer and maintained as part of a collective bargaining agreement. About 3.2% of all DB pension plans, covering 25% of all DB pension plan participants, are multiemployer plans. Nearly all of the remaining DB pension plans are maintained by a single employer. A few DB pension plans are maintained by more than one employer but are not maintained under a collective bargaining agreement. In DB pension plans, participants receive a monthly benefit in retirement that is based on a formula. In multiemployer DB pensions, the formula typically multiplies a dollar amount by the number of years of service the employee has worked for employers that participate in the DB plan. DB pension plans are subject to funding rules in the Internal Revenue Code (26 U.S.C. ยง431) to ensure they have sufficient resources from which to pay promised benefits. Because single employer and multiemployer DB pension plans have different structures, Congress has established separate funding rules for these plans. The funding rules for multiemployer DB pension plans are set to expire at the end of 2014, and Congress has been considering proposals that would alter these rules. Although most multiemployer DB pension plans have sufficient resources from which to pay their promised benefits, a few large plans are expected to become insolvent in the next 20 years. The Pension Benefit Guaranty Corporation (PBGC) is a U.S. government agency that insures the benefits of participants in private-sector DB pension plans. As with the funding rules, Congress established separate PBGC programs to insure single and multiemployer DB pensions. For example, PBGC becomes the trustee of terminated single employer DB pension plans. PBGC does not become the trustee of multiemployer DB pension plans; rather, it makes loans to insolvent multiemployer DB plans so the plans may continue to pay participants' guaranteed benefits. Although PBGC has sufficient resources to make loans to smaller multiemployer DB plans, the insolvency of a large multiemployer DB pension plan would likely result in a substantial strain on PBGC's multiemployer insurance program. In the absence of increased financial resources for PBGC, participants in insolvent multiemployer DB pension plans might not receive all of the benefits guaranteed by PBGC. In a report released in June 2014, PBGC indicated that the multiemployer insurance program is highly likely to become insolvent by 2025.
Author: Ronald L. Huling
Publisher:
ISBN:
Category : Employee fringe benefits
Languages : en
Pages : 414
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Book Description
Author: Barbara Bovbjerg
Publisher: DIANE Publishing
ISBN: 143794292X
Category : Law
Languages : en
Pages : 65
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Book Description
Thirty years ago Congress enacted protections to ensure that participants in multiemployer pension plans received their promised benefits. These defined benefit plans are created by collective bargaining agree. covering more than one employer. Today, these plans provide pension coverage to over 10.4 million participants in approx. 1,500 multiemployer plans insured by the Pension Benefit Guaranty Corp. (PBGC). This report examines: (1) the current status of nation's multiemployer plans; (2) steps PBGC takes to monitor the health of these plans; (3) the structure of multiemployer plans in other countries; and (4) statutory and regulatory changes that could help plans provide participants with the benefits they are due. Illus. This is a print on demand report.
Author:
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 20
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 24
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Book Description
Author: Mitchel Dean Whitehead
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 47
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 96
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Book Description
Author: United States. Bureau of Labor Statistics
Publisher:
ISBN:
Category : Labor mobility
Languages : en
Pages : 92
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Book Description
