Lessons from TWA's pension plan troubles
Article Abstract:
Trans World Airlines Inc's (TWA) pension plan problems were rooted in two defined benefit schemes which were underfunded. TWA Pres Carl Icahn agreed to settle with the Pension Benefit Guaranty Corp (PBGC) after realizing that it intended to force plan terminations in other companies he owned if a settlement was not reached. In addition, legislation designed to prevent him from avoiding responsibility for pension liabilities convinced Icahn to settle amicably. Such problems could have been avoided if Icahn took more effort to be aware of pension plan underfunding in TWA before he acquired a majority stake.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1993
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How plan sponsors can meet new disclosure requirements
Article Abstract:
New Dept of Labor regulations which require benefits practicioners to make disclosures as to the number of investment categories andavailable transfers pose a problem in the sense that there is some ambiguity asto whether the required disclosures will allow participants to exercise control. Critics state that even with full compliance, sponsors will not be absolved of responsibility. Organizations can reduce liability by working with a consultant who can oversee investment performance.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1993
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The pragmatic health plan sponsor: outlook for 1995
Article Abstract:
A health plan sponsor should wisely expect continued evolution of the health care system which will be influenced by the changes in four determinants, namely: state legislation, federal rulemaking, health care delivery system and insurance. In health care delivery, changes will result mainly from clinical reengineering efforts which are costly in the short run but are expected to lead to efficiency in the long term.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1995
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- Abstracts: Medicaid block grants will affect employee health plans. The implications of easing Medicaid demonstration waiver requirements
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- Abstracts: ADA raises new compliance issues for benefit plans. How courts view experimental medical procedures
- Abstracts: Hybrid pension plans: plain talk about the real issues. Socially responsible investing poised to enter the mainstream