Underfunded Pensions, Pension Dumping, and Retirement Security: Pension Funds, the Pension Benefit Guarantee Corporation (PBGC), Bailout Risks, Impact on Federal Budget, and the Pension Protection Act of 2006

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Thecapitol.Net, 2009 - Business & Economics - 316 pages
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"Underfunded Pensions, Pension Dumping, and Retirement Security: Pension Funds, the Pension Benefit Guarantee Corporation (PBGe, Bailout Risks, Impact on the Federal Budget, and the Pension Protection Act of 2006," part of the Government Series from TheCapitol.Net

The Employee Retirement Income Security Act of 1974 (ERISA) provides a comprehensive federal scheme for the regulation of employee pension and welfare benefit plans offered by employers.

The Pension Benefit Guarantee Corporation (PBGe, a federal corporation created by ERISA, protects the pensions of nearly 44 million American workers and retirees in more than 29,000 private single-employer and multiemployer defined benefit pension plans.

Although the PBGC's liabilities are not explicitly backed by the full faith and credit of the federal government, Congress could face political pressure to bail out the PBGC at taxpayer expense should the agency become financially insolvent.

Ch. 1. Summary of the Employee Retirement Income Security Act (ERISA), by Patrick Purcell and Jennifer Staman

Ch. 2. The Pension Benefit Guaranty Corporation and the Federal Budget, by William Joseph Klunk

Ch. 3. The Worker, Retiree, and Employer Recovery Act of 2008: An Overview, by Jennifer Staman

Ch. 4. Pension Benefit Guaranty Corporation (PBGe Investment Policy: Issues for Congress, by Kelly Kinneen and Patrick Purcell

Ch. 5. Proposed Plan Buyouts by Financial Firms Pose Potential Risks and Benefits, US GAO

Ch. 6. The Financial Health of the Pension Guaranty Benefit Corporation (PBGe, by William J. Klunk

Ch. 7. "The Pension Benefit Guaranty Corporation," Statement of Dallas Salisbury, Pres & CEO, EBRI

Ch. 8. "Pension Benefit Guaranty Corporation Financial Challenges Highlight Need for Improved Governance and Management," Statement of Barbara D. Bovbjerg, GAO

Ch. 9. "No Guarantees: As Pension Plans Crumble, can PBGC Deliver?," Statement of Rebecca Anne Batts, IG, PBGC

Ch. 10. Testimony of Vincent K. Snowbarger, Acting Director, PBGC

Ch. 11. "The Effects of Recent Turmoil in Financial Markets on Retirement Security," Statement of Peter R. Orszag, Dir., CBO

Ch. 12. "A Review of the Pension Benefit Guaranty Corporation's New Investment Strategy," Letter from Peter Orszag, Dir., CBO

Ch. 13. Testimony of Bradley D. Belt, PBGC

Ch. 14. ERISA Part 4010. 29 CFR Part 4010

Ch. 15. PBGC FAQs: Plan Funding

Ch, 16. Other Resources

Ch. 17. Other Resources from TheCapitol.Net

Capitol Learning Audio Courses TM www.CapitolLearning.com

Congress and Its Role in Policymaking, ISBN 158733061X

Preparing for Congressional Oversight and Investigation, ISBN 1587330644

Understanding the Regulatory Process, A Five Course Series, ISBN 9781587331398

Live Training

Advanced Federal Budget Process
www.BudgetProcess.com

The President's Budget
www.PresidentsBudget.com

Capitol Hill Workshop
www.CapitolHillWorkshop.com

Understanding The Regulatory Process: Working with Federal Regulatory Agencies
www.RegulatoryProcess.com

Congressional Oversight and Investigation
www.CongressionalInvestigation.com

Complete Table of Contents at www.1534Pensions.com

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About the author (2009)

Patrick Purcell is Senior Research Fellow in the Department of Electrical Engineering at Imperial College of Science & Technology, London.

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