Private Pension and Retiree Health Benefits: Underserving Today's Retirees, Retreating from Tomorrow's? : Hearing Before the Subcommittee on Retirement Income and Employment of the Select Committee on Aging, House of Representatives, One Hundred First Congress, Second Session, July 27, 1990
United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment
U.S. Government Printing Office, 1990 - Electronic books - 256 pages
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additional adjustments American amount annuity average Bank career Chairman changes Citizens Commission's companies concern Congress considered continue costs coverage covered defined benefit plans defined contribution plans Department distributions dollars earnings effect Employee Benefit ERISA estimated existing federal funding future goals going health plans hearing HUGHES important incentives increase individuals inflation investment issues Labor leave less limit living loss lump sum major million Motors MUPS offer paid participants payments pension benefits pension plans pension system percent portability preservation President's Commission prior private pension problem programs proposal protection question received recent recipients recommendations reduce reform reported represent require Research result retiree health benefits retirement benefits retirement income rules salary savings share social security sponsors standard statement tax expenditures Thank trend vesting workers
Page 135 - Conclusions or recommendations in The Institute's publications are solely those of the author, and should not be attributed to the Board of Directors, Council of Trustees, or contributors to The Institute.
Page 13 - Our best preliminary estimates, based on Department of Labor and US Census Bureau data, indicate that preretirement spending of accumulated pension plan savings may represent up to two-thirds of all portability losses. Clearly, the preretirement distribution of retirement savings is another matter that needs to be addressed by pension policy. POWER PROPOSAL On April...
Page 221 - ... social security paid for by the company is deducted from the gross pension benefit because our plan is integrated with the federal retirement plan. In your particular computation the amount of pension benefit based on the formula is $72.72. The one-half of social security paid for by the company is $99.45. Therefore, no benefit is payable to you from the company pension plan. If you have any questions please let me know, (signed by plan official) Page 12 CITIZENS' GOAL: Social security should...
Page 15 - I will be happy to answer any questions you may have. Mr. HUGHES. Thank you very much, Mr.
Page 81 - For example, when LTV, one of the largest companies in the United States, filed for bankruptcy in July 1986, it attempted to terminate health benefits to over 78,000 retirees.
Page 31 - I would like to take this opportunity to thank you for allowing me to appear before this subcommittee.
Page 3 - Director. OPENING STATEMENT OF CHAIRMAN WILLIAM J. HUGHES Mr. HUGHES. The Subcommittee on Retirement Income and Employment of the House Select Committee on Aging will come to order. Good morning.
Page 86 - The main disadvantage is that some retirees will have to pay more for their health benefits, because companies would no longer be paying as much of the coverage costs. At the other end of the spectrum, the Congress could impose a complete set of requirements similar to those now applicable to pension plans under ERISA. This would probably require additional tax preferences for advance funding in exchange for requiring companies to meet minimum vesting and funding standards. This option would make...