Multiemployer Defined Benefit (DB) Pension Plans

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Publisher : CreateSpace
ISBN 13 : 9781502841223
Total Pages : 24 pages
Book Rating : 4.8/5 (412 download)

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Book Synopsis Multiemployer Defined Benefit (DB) Pension Plans by : Congressional Research Service

Download or read book Multiemployer Defined Benefit (DB) Pension Plans written by Congressional Research Service and published by CreateSpace. This book was released on 2014-10-07 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Data on Multiemployer Defined Benefit (DB) Pension Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (111 download)

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Book Synopsis Data on Multiemployer Defined Benefit (DB) Pension Plans by : John J. Topoleski

Download or read book Data on Multiemployer Defined Benefit (DB) Pension Plans written by John J. Topoleski and published by . This book was released on 2018 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Private Pensions

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Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Private Pensions by : United States. General Accounting Office

Download or read book Private Pensions written by United States. General Accounting Office and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Multiemployer Defined Benefit (DB) Pension Plans

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Multiemployer Defined Benefit (DB) Pension Plans by : John J. Topoleski

Download or read book Multiemployer Defined Benefit (DB) Pension Plans written by John J. Topoleski and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Private pensions multiemployer plans face short and longterm challenges.

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Author :
Publisher : DIANE Publishing
ISBN 13 : 1428937870
Total Pages : 33 pages
Book Rating : 4.4/5 (289 download)

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Book Synopsis Private pensions multiemployer plans face short and longterm challenges. by :

Download or read book Private pensions multiemployer plans face short and longterm challenges. written by and published by DIANE Publishing. This book was released on 2004 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reforming and Strengthening Defined Benefit Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Reforming and Strengthening Defined Benefit Plans by : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations

Download or read book Reforming and Strengthening Defined Benefit Plans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations and published by . This book was released on 2004 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Multiemployer Defined Benefit (DB) Pension Plans

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis Multiemployer Defined Benefit (DB) Pension Plans by : John J. Topoleski

Download or read book Multiemployer Defined Benefit (DB) Pension Plans written by John J. Topoleski and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses the nature of multiemployer defined benefit (DB) pension plans, and issues regarding their financial solvency. DB pension plans are sponsored by more than one employer and maintained as part of a collective bargaining agreement.

Private Pensions

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Publisher : DIANE Publishing
ISBN 13 : 143794292X
Total Pages : 65 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Private Pensions by : Barbara Bovbjerg

Download or read book Private Pensions written by Barbara Bovbjerg and published by DIANE Publishing. This book was released on 2011-04 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Assessing the Challenges Facing Multiemployer Pension Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Assessing the Challenges Facing Multiemployer Pension Plans by : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions

Download or read book Assessing the Challenges Facing Multiemployer Pension Plans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2012 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Study of Multiemployer Plans

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Publisher :
ISBN 13 :
Total Pages : 246 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Study of Multiemployer Plans by : Ronald L. Huling

Download or read book Study of Multiemployer Plans written by Ronald L. Huling and published by . This book was released on 1979 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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].

Strengthening the Multiemployer Pension System

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Author :
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Strengthening the Multiemployer Pension System by : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions

Download or read book Strengthening the Multiemployer Pension System written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2014 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Challenges Facing Multiemployer Pension Plans

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Challenges Facing Multiemployer Pension Plans by : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions

Download or read book Challenges Facing Multiemployer Pension Plans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2014 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pension Benefit Guaranty Corporation

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Publisher :
ISBN 13 : 9781628081084
Total Pages : 132 pages
Book Rating : 4.0/5 (81 download)

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Book Synopsis Pension Benefit Guaranty Corporation by : Stan Dupont

Download or read book Pension Benefit Guaranty Corporation written by Stan Dupont and published by . This book was released on 2013 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides background and analysis of the premiums charged by the Pension Benefit Guaranty Corporation (PBGC), which is a government-owned corporation that was created in 1974 to protect the retirement income of participants in private-sector, defined benefit (DB) pension plans. When a company terminates a DB pension plan that does not have enough assets to pay 100% of the promised benefits, PBGC pays, in accordance with statute and up to a maximum yearly dollar amount, the benefits to participants in the terminated plan. In FY2012, 887,000 individuals received $5.5 billion in benefit payments from PBGC. An additional 614,000 workers will receive benefits when they retire. PBGC consists of two insurance programs: (1) a multiemployer pension program, which protects the benefits of 10.3 million participants in collectively bargained DB pensions in which several employers make contributions, and (2) a larger single-employer pension program, which protects the benefits of 33.4 million participants in DB pensions operated by one employer for its eligible employees.

Multiemployer Retirement Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Multiemployer Retirement Plans by : Daniel F. McGinn

Download or read book Multiemployer Retirement Plans written by Daniel F. McGinn and published by . This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explores at length the fabric of multiemployer retirement plans, starting with their formation and moving through plan design, administration, investments, actuarial computations, governmental regulation and future factors that could influence multiemployer retirement systems. The author examines the nature of multiemployer retirement systems, explains how they operate and presents his view of the future of these plans.

Employee Pensions

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Author :
Publisher : Cornell University Press
ISBN 13 : 9780913447956
Total Pages : 244 pages
Book Rating : 4.4/5 (479 download)

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Book Synopsis Employee Pensions by : Teresa Ghilarducci

Download or read book Employee Pensions written by Teresa Ghilarducci and published by Cornell University Press. This book was released on 2007 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes policy directions, especially defined benefit plans and defined contribution plans, and their implications for both employers and employees. Reflects on issues of partial retirement, multi-employers plans, savings plans, and the potential and pitfalls of US Federal pension policy.

Pension Benefit Guaranty Corporation

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Author :
Publisher : Nova Science Publishers
ISBN 13 : 9781628081077
Total Pages : 0 pages
Book Rating : 4.0/5 (81 download)

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Book Synopsis Pension Benefit Guaranty Corporation by : Stan Dupont

Download or read book Pension Benefit Guaranty Corporation written by Stan Dupont and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides background and analysis of the premiums charged by the Pension Benefit Guaranty Corporation (PBGC), which is a government-owned corporation that was created in 1974 to protect the retirement income of participants in private-sector, defined benefit (DB) pension plans. When a company terminates a DB pension plan that does not have enough assets to pay 100% of the promised benefits, PBGC pays, in accordance with statute and up to a maximum yearly dollar amount, the benefits to participants in the terminated plan. In FY2012, 887,000 individuals received $5.5 billion in benefit payments from PBGC. An additional 614,000 workers will receive benefits when they retire. PBGC consists of two insurance programs: (1) a multi-employer pension program, which protects the benefits of 10.3 million participants in collectively bargained DB pensions in which several employers make contributions, and (2) a larger single-employer pension program, which protects the benefits of 33.4 million participants in DB pensions operated by one employer for its eligible employees.

A Predictable, Secure Pension for Life

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Author :
Publisher : Pension Benefit Guaranty Corporatiom
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis A Predictable, Secure Pension for Life by :

Download or read book A Predictable, Secure Pension for Life written by and published by Pension Benefit Guaranty Corporatiom. This book was released on 2000 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: