Handling Disability Pensions in Multiemployer Plans

Article Abstract:

The Social Security Administration must re-examine every disability pension recipient once every three years, except those who are obviously disabled for life. This has been required since 1980 and accounts for the removal of nearly four-hundred thousand persons from disability rolls since then. About one-fourth of those disqualified were disabled due to mental illness. There is a complicated appeal process for those disqualified which involves the Social Security Administration and administrative law judges. About one-half of the appeals so far have been granted. In some cases, appeals have been assisted by state and local interests who desire to keep them from being on their own payrolls. Taft-Hartley fund trustees have numerous problems due to the stricter policy. These are reviewed. Legal decisions as to disability determination are analyzed.

Economic policy, Capacity and disability

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Section 401 (k) Plans and No-Load Mutual Funds: A Perfect Match

Article Abstract:

The 401 (k) plan has been hailed as a revolutionary force in employee benefits planning. Two surveys show that about two-thirds of United States firms have begun 401 (k) savings or retirement arrangements for their employees. Employee reaction has been quite positive. Employee participation ranges as high as ninety percent; this is a much higher rate than has been achieved by conventional thrift plans or company sponsored Individual Retirement Accounts (IRAs). The design of 401 (k) plans is explained including the salary reduction 401 (k) plan (stand-alone) and the cash-option or bonus deferral plan. Comparisons are made between these provisions and those applying to IRA plans. The question of employee loans from 401 (k) plans is also addressed.

Evaluation, Surveys, Individual retirement accounts, Attitudes, Attitude (Psychology)

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Top-heavy Plans: Insights and Ideas

Article Abstract:

Some of the less agreeable provisions of TEFRA have been creatively handled by the pension community. The particular rules involved in top-heavy plans form the basis of this article. Various methods of minimizing the negative areas of top-heavy plans are highlighted. Vesting and minimal requirements are analyzed. The problem of providing minimum benefits where both a defined benefit and defined contribution plan are involved is explained. Compliance cost issues are also considered. Tables of top-heavy benefits plan data are featured.

Finance, United States. Internal Revenue Service

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