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Effects Of The 1980 Multiemployer Pension Plan Amendments Act On Plan Participants Benefits
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Book Synopsis Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits by : United States. General Accounting Office
Download or read book Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits written by United States. General Accounting Office and published by . This book was released on 1985 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits by : United States. General Accounting Office
Download or read book Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits written by United States. General Accounting Office and published by . This book was released on 1985 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States General Accounting of Gao Publisher :Independently Published ISBN 13 :9781090706492 Total Pages :66 pages Book Rating :4.7/5 (64 download)
Book Synopsis Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits by : United States General Accounting of Gao
Download or read book Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits written by United States General Accounting of Gao and published by Independently Published. This book was released on 2019-03-18 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits
Book Synopsis Pension Plans by : United States. General Accounting Office
Download or read book Pension Plans written by United States. General Accounting Office and published by . This book was released on 1986 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits by : United States. General Accounting Office
Download or read book Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits written by United States. General Accounting Office and published by . This book was released on 1985 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits by : United States. General Accounting Office
Download or read book Effects of the 1980 Multiemployer Pension Plan Amendments Act on Plan Participants' Benefits written by United States. General Accounting Office and published by . This book was released on 1985 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Retirement Security by : U S Government Accountability Office (G
Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to the requirements of the Multiemployer Pension Plan Amendments Act, GAO studied the effects of plan terminations and benefits changes on plan participants. GAO found that: (1) while plan terminations increased from 27 in the 6 years before the act to 66 in the 4 years after, such terminations affected less than 1 percent of total plan participants nationwide; (2) the act was cited as a reason for only 38 percent of the plan terminations that occurred after its passage, while economic or other reasons were cited as reasons for 62 percent of such terminations; (3) 76 percent of terminated plan participants received all of the earned benefits, and most of the remainder received their vested benefits; (4) alternative pension coverage was made available to 88 percent of terminated plan participants; and (5) program loans to two insolvent ongoing plans helped to pay benefits to the plans' retired employees and continue coverage for their working participants. In addition, GAO found that: (1) 83 percent of the ongoing plans studied made changes in benefits practices after the act was passed, but only 17 percent of the sample plans made changes related to the act; (2) 30 percent of the sample plans made changes deemed unfavorable to participants; and (3) the act was blamed for changes that affected 12 percent of participants in the sample plans.
Book Synopsis The 1980 Multiemployer Pension Plan Amendments Act by : United States. General Accounting Office
Download or read book The 1980 Multiemployer Pension Plan Amendments Act written by United States. General Accounting Office and published by . This book was released on 1985 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis 1980 Multiemployer Pension Amendments by : U S Government Accountability Office (G
Download or read book 1980 Multiemployer Pension Amendments written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to a congressional request, GAO reported on: (1) changes in the Pension Plan Insurance Program's financial condition since the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) was enacted; (2) the act's initial effects on the program, plan participants, and contributing employers; and (3) possible effects of the act over the long term. GAO found that, at the time MPPAA was enacted in 1980, the insurance program had an $8.5 million deficit, but 4 years later, it had a $17.2 million surplus. During the same period, the program's cash reserve increased from three times annual disbursements to seven times. Both improvements came about because the increased premium rate generated more than enough revenue to pay program liabilities, while average disbursements remained relatively constant before and after the act went into effect. GAO found that MPPAA provisions provided protection to the program without significantly increasing costs to most employers, because: (1) plan funding provisions, for most plans, required higher employer contributions than before; (2) withdrawal liability provisions, as of mid-fiscal-year 1983, resulted in about $260 million being potentially collectable from employers who withdrew from the 149 plans; and (3) a special provision eliminated withdrawal liability for about 68 percent of the 3,853 employers withdrawing from sample plans with unfunded benefits and reduced liability for another 12 percent. GAO believes that: (1) the program remains exposed to billions of dollars in potential losses from unfunded plan benefits; (2) MPPAA provisions may be inadequate to protect the program because collections of withdrawal liabilities from bankrupt employers may be limited; (3) the act's withdrawal liability provisions may cause new employers not to join the plans; and (4) participants' benefits may be significantly affected by employers acting to slow or stop benefits improvements.
Book Synopsis The Multiemployer Pension Plan Amendments Act of 1979 by : United States. Congress. House. Committee on Ways and Means
Download or read book The Multiemployer Pension Plan Amendments Act of 1979 written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1980 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor-Management Relations. Welfare and Pension Plans Task Force Publisher : ISBN 13 : Total Pages :1658 pages Book Rating :4.0/5 (18 download)
Book Synopsis Hearings on the Multiemployer Pension Plan Amendments Act of 1979 by : United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor-Management Relations. Welfare and Pension Plans Task Force
Download or read book Hearings on the Multiemployer Pension Plan Amendments Act of 1979 written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor-Management Relations. Welfare and Pension Plans Task Force and published by . This book was released on 1980 with total page 1658 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Retirement Security by : U S Government Accountability Office (G
Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO studied the effects of the Multiemployer Pension Plan Amendments Act of 1980 and its provisions, including: (1) characteristics of the plan participants; (2) the plan's financial characteristics; and (3) indicators of the plan's financial condition. GAO collected comparable multiyear data on a sample of multiemployer plans and issued a series of reports on the act's provisions using the data. GAO noted that: (1) considerable participant and financial data are generated to meet plan administrative needs and Employee Retirement Income Security Act requirements; and (2) these data can be used to develop indicators of the financial condition of the plans and the existence of potential risks. GAO found that: (1) the overall financial condition of the plans studied improved during the 1978 to 1980 period; (2) based on plan data, the plan's funded position and cash flow improved, but its contribution ratio declined; and (3) the vested benefits of the study area plans improved funding during the 1978 to 1980 period because the percentage increase in the value of assets was greater than the percentage increase in vested benefits. GAO also found that: (1) unfunded plan benefits continued to pose a substantial contingent liability against the insurance program; (2) the cash flow of the sample plans ranged from less than $1 to over $6 of income for every expense dollar; and (3) some of the sample plans had a low number of actives compared to other participants which indicated that the plans may not have the ability to generate enough contributions to pay for unfunded benefits.
Book Synopsis Retirement Security by : U S Government Accountability Office (G
Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO reviewed the implementation and effects of the withdrawal liability provisions of the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) on those multiemployer plans not covered by the special rules or exemptions that apply mainly to construction and entertainment industry plans. The Pension Benefit Guaranty Corporation (PBGC) administers an insurance program for private pension plans and guarantees the payment of certain benefits to the participants of the plans if a plan terminates without sufficient assets to provide vested benefits, called withdrawal liability. Prior to MPPAA, employers could withdraw from a plan without any continuing obligation; now they are required to pay an allotted portion to the plan's unfunded vested benefits. GAO found that MPPAA eliminated or reduced the effects of withdrawal liability by providing limits on the collection of liabilities from individual employers. GAO also found that the determination of appropriate interest rates was complex because the assumptions should reflect the long-term expectation of rates of return on the investment of plan assets held by the plan. GAO believes that there is a need to monitor determinations of withdrawal liability by multiemployer plans and to consider the issuance of regulations on actuarial assumptions. MPPAA set forth four methods used in allocating a plan's unfunded benefits to withdrawing employers and, depending on the method selected, the amounts allocated may differ between new and current employers or between growing and declining employers. GAO believes that MPPAA-imposed liability increases the pension security of participants in poorly funded plans and provides protection against the insolvency of the PBGC insurance fund by reducing the contingent liability against the program resulting from poorly funded plans.
Author :United States. Congress. Senate. Committee on Labor and Human Resources Publisher : ISBN 13 : Total Pages :1236 pages Book Rating :4.3/5 (91 download)
Book Synopsis Multiemployer Pension Plan Amendments Act of 1979 by : United States. Congress. Senate. Committee on Labor and Human Resources
Download or read book Multiemployer Pension Plan Amendments Act of 1979 written by United States. Congress. Senate. Committee on Labor and Human Resources and published by . This book was released on 1979 with total page 1236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Explanation of H.R. 3904 (as Reported by the Committee on Education and Labor) Relating to Multiemployer Pension Plan Amendments by : United States. Congress. House. Committee on Ways and Means
Download or read book Explanation of H.R. 3904 (as Reported by the Committee on Education and Labor) Relating to Multiemployer Pension Plan Amendments written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1980 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor Publisher : ISBN 13 : Total Pages :626 pages Book Rating :4.:/5 (327 download)
Book Synopsis Multiemployer Pension Plan Stabilization Act of 1981 by : United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor
Download or read book Multiemployer Pension Plan Stabilization Act of 1981 written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor and published by . This book was released on 1982 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Description of H.R. 3904 by : United States. Congress. House. Committee on Ways and Means
Download or read book Description of H.R. 3904 written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1980 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
