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Pension Portability and Preservation

Pension Portability and Preservation PDF Author: Joseph F. Delfico
Publisher:
ISBN:
Category : Occupational mobility
Languages : en
Pages : 62

Book Description

Pension Portability and Preservation

Pension Portability and Preservation PDF Author: Joseph F. Delfico
Publisher:
ISBN:
Category : Occupational mobility
Languages : en
Pages : 62

Book Description

Pension Portability and Preservation

Pension Portability and Preservation PDF Author: U S Government Accountability Office (G
Publisher: BiblioGov
ISBN: 9781289127558
Category :
Languages : en
Pages : 34

Book Description
GAO examined pension portability and preservation for workers who have vested pension benefits, focusing on: (1) how job mobility affected workers' pension incomes in retirement; (2) types of portability and preservation arrangements; and (3) legislative proposals designed to enhance pension portability and preservation. GAO found that: (1) workers vested in a series of defined benefit plans could suffer retirement income losses, while those vested in a series of defined contribution plans would not experience a job mobility loss if they kept their vested pension assets in the plans or rolled them over into another plan; (2) the private pension system had limited pension and service portability; (3) many employees spent rather than preserved their cashed-out pension assets when changing jobs; and (4) implementation of current proposals would entail difficult economic tradeoffs by employers, employees, and the government.

Private Pensions

Private Pensions PDF Author:
Publisher:
ISBN:
Category : Occupational mobility
Languages : en
Pages : 34

Book Description

Pension Portability and Preservation for State and Local Governments

Pension Portability and Preservation for State and Local Governments PDF Author: Marta V. Goldsmith
Publisher: Government Finance Officers
ISBN: 9780891251408
Category : Civil service
Languages : en
Pages : 39

Book Description

Private Pensions

Private Pensions PDF Author: U S Government Accountability Office (G
Publisher: BiblioGov
ISBN: 9781289086503
Category :
Languages : en
Pages : 36

Book Description
In response to a congressional request, GAO assessed issues relating to the portability and preservation of private pension benefits, specifically: (1) whether job mobility adversely affected retirement income; (2) what kinds of portability and preservation arrangements existed and the extent to which they were used; and (3) the problems and tradeoffs involved in implementing proposals to enhance portability or preservation of pension benefits. GAO found that: (1) for workers with defined benefit plans, changing jobs would usually result in lower retirement incomes, since benefits and tenure usually do not transfer to another plan and plans base benefits on workers' earnings at the time they leave the plan, rather than their earnings at retirement; (2) workers who participate in a series of defined plans should not lose their retirement income if they keep their benefits in their previous plans, transfer them to subsequent plans, or convert them into individual retirement accounts (IRA); (3) pension preservation is a concern, since many workers spend, rather than reinvest, their cashed-out pension benefits; (4) some multi-employer plans and single-employer plans with reciprocity agreements allow plan portability, but cover less than 20 percent of the private-sector plan participants; (5) IRA are available as a pension preservation mechanism to all workers; (6) only 6 percent of all pension plans accept assets transferred from other plans; and (7) proposals to enhance portability and preservation would give workers better retirement benefits, but would increase employer costs and cause tax revenue losses.

Portability of Pension Plan Benefits; and Investment of Pension Plan Assets

Portability of Pension Plan Benefits; and Investment of Pension Plan Assets PDF Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher:
ISBN:
Category : Occupational mobility
Languages : en
Pages : 292

Book Description

Private Pensions

Private Pensions PDF Author:
Publisher:
ISBN:
Category : Occupational mobility
Languages : en
Pages : 28

Book Description

Preservation, Portability and Governance for Retirement Funds

Preservation, Portability and Governance for Retirement Funds PDF Author: National Treasury (South Africa)
Publisher:
ISBN:
Category : Annuities
Languages : en
Pages : 29

Book Description

Private Pension and Retiree Health Benefits

Private Pension and Retiree Health Benefits PDF Author: United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 260

Book Description

Private Pension and Retiree Health Benefits

Private Pension and Retiree Health Benefits PDF Author: United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 272

Book Description

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