Trend reversed: PBGC's Early Warning Program helps reduce underfunding
Article Abstract:
The Pension Benefit Guaranty Corp. (PBGC) reported a pension-underfunding trend reversal, noting that underfunding in 1994 was $31 bil. versus $71 bil. in 1993. The overall funding ratio among underfunded plans was 87% in 1994, an improvement from 82% in 1993. PBGC credited the reversal to a 1995 bill called the Early Warning Program, which requires firms with severely underfunded pension plans to fund them completely within seven years. The program oversees over 400 firms that sponsor pension plans underfunded by at least $25 mil.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1996
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New studies find retirement policy must change
Article Abstract:
Three studies indicate a need to reform national retirement income policy and individual plan sponsor programs to avoid retirement income problems for the government after the year 2000. The findings are supported by the Dept. of Labor's Bureau of Labor Statistics' report entitled 'The Demographics of Family Spending.' Similar results were shown by the national Workplace Pulse survey issued by Colonial Life and Accident Insurance Co and the Employers Council of Flexible Compensation.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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