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"Our reading of the benefit guarantee is clear, that it's for the benefit of retirees, and not the P.B.G.C.," he wrote.
The PBGC's maximum benefit guarantee is set each year under provisions of ERISA.
Like traditional pension plans, and unlike 401(k) plans, cash-balance plans are wholly funded by employers and insured by the federal Pension Benefit Guarantee.
Hence DSP is not only replacing a greater percentage of low skilled workers' wage earnings but is an increasingly attractive alternative to Australia's Newstart Allowance social minimum benefit guarantee.
While there have been some changes in the DSP income disregard, tax rates, and in its nominal benefit guarantee, over the entire period from 1970 to 2011, the break-even income threshold where DSP benefits go to zero has only increased slightly faster than average wage earnings.
The end result: the federal government's pension benefit guarantee corporation was stuck with a $44 million bill.
Similar(53)
That transparency should now encompass guarantees too.* "Controlling the cost of minimum benefit guarantees in public pension conversions", by Kent Smetters.
"Our analytics suggest these are very attractive vehicles versus variable annuities with living benefit guarantees," he said.
These include taxation of withdrawals, taxation after death and contractual income and/or withdrawal benefit guarantees (lifetime guarantees), of which you made no mention.
Employment is a benefit guaranteed to military personnel upon their return from active duty.
In particular, it doesn't include more than 4 million additional people who would be "insured" but have these short-term plans without the pre-existing condition and essential benefit guarantees, the researchers say. .
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CEO of Professional Science Editing for Scientists @ prosciediting.com