U.S. pension benefit insurance

Article Abstract:

The Pension Benefit Guaranty Corp (PBGC) is a federal agency whose funds come from premium payments of firms sponsoring defined benefit plans. The insurance guarantees employees their basic retirement benefits even if their firm terminates their defined benefit plan due to underfunding. The PBGC has enough funds to meet its financial obligations regarding benefit payments but it needs to initiate changes on its insurance policies. These should include prioritizing PBGC claims in the event of firms' bankruptcy and increasing the premiums of high-risk firms.

Insurance carriers, not elsewhere classified, Finance, Defined benefit plans, Insurance, Workers, United States. Pension Benefit Guaranty Corp.

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Paying for pensions: an international comparison

Article Abstract:

A study of the private pension systems of nine countries reveals that countries adopt different methods entailing risks and mechanisms to minimize them. A variety of financing methods were examined in Australia, Canada, France, Germany, Japan, the Netherlands, Switzerland, the UK and the US with the findings that the financial risks can be reduced through the diversification of the essential securities. This can be achieved through such measures as purchasing insurance products and having multiemployer plans.

Analysis, International aspects, Employee benefits

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Retirement income system reform in central and eastern Europe

Article Abstract:

The rise of pension costs in central and eastern European (CEE) countries indicate the need to evaluate and restructure the retirement income system in said countries. Statistical data show a rise in pension costs due to the increase in the number of retirees and shortfalls in tax collections. CEE countries can solve these problems by adopting a flat rate benefit formula, fulfilling promises regarding benefits, increasing the retirement age and improving tax collection.

Pension Funds & Benefit Plans, Pension Funds, Economic aspects, Statistics, Eastern Europe, Pensions, Retirees, Central Europe, Tax collection

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