Issues and Proposals Relating to the Financial Condition of the Pension Benefit Guaranty Corporation (PBGC): Scheduled for a Hearing Before the Subcommittee on Oversight of the House Committee on Ways and Means, on February 4, 1993U.S. Government Printing Office, 1993 - 25 lappuses |
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1.5. rezultāts no 8.
1. lappuse
... tion ( PBGC ) . The Subcommittee on Oversight of the House Com- mittee on Ways and Means has scheduled a public hearing on Feb- ruary 4 , 1993 , to review the impact of underfunded defined benefit plans on the PBGC , plan retirees , and ...
... tion ( PBGC ) . The Subcommittee on Oversight of the House Com- mittee on Ways and Means has scheduled a public hearing on Feb- ruary 4 , 1993 , to review the impact of underfunded defined benefit plans on the PBGC , plan retirees , and ...
3. lappuse
... tion ( PBGC ) , a corporation within the Department of Labor , was created in 1974 by ERISA to provide an insurance program for ben- efits under most defined benefit pension plans maintained by pri- vate employers . According to the ...
... tion ( PBGC ) , a corporation within the Department of Labor , was created in 1974 by ERISA to provide an insurance program for ben- efits under most defined benefit pension plans maintained by pri- vate employers . According to the ...
4. lappuse
... tion Act of 1987. It was believed that underfunded plans should bear a greater burden than well - funded plans because they pose a greater risk of exposure to the PBGC . The amount of the variable rate premium is $ 9.00 per each $ 1,000 ...
... tion Act of 1987. It was believed that underfunded plans should bear a greater burden than well - funded plans because they pose a greater risk of exposure to the PBGC . The amount of the variable rate premium is $ 9.00 per each $ 1,000 ...
13. lappuse
... tion is required or permitted under the minimum funding rules to the extent the plan is at the full funding limit . Before 1988 , the full funding limit was 100 percent of an employer's accrued liability , as determined under the plan's ...
... tion is required or permitted under the minimum funding rules to the extent the plan is at the full funding limit . Before 1988 , the full funding limit was 100 percent of an employer's accrued liability , as determined under the plan's ...
14. lappuse
... tion an employer can claim for the year cannot exceed the full funding limitation . Deductions for employer contributions The Code also imposes a limit on the amount of deductible con- tributions that can be made annually to a defined ...
... tion an employer can claim for the year cannot exceed the full funding limitation . Deductions for employer contributions The Code also imposes a limit on the amount of deductible con- tributions that can be made annually to a defined ...
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accumulated funding deficiency actuarial assumptions actuarial cost method actuarial present value amortized Bankruptcy Code benefit increases benefit is contingent benefit pension plan billion changes in actuarial Code and ERISA contingent event benefits current liability percentage December 31 deficit reduction contribution defined benefit pension defined benefit plan defined contribution plan determined employer contribution excess excise tax experience losses financial condition full funding limit funded current liability funding method funding standard account funding waivers hidden liabilities interest rate minimum funding requirements minimum funding standard moral hazard normal cost past service liability PBGC guarantee PBGC's exposure Pension Benefit Guaranty Pension Protection Act period plan amendment plan assets plan sponsors plan termination plan year beginning plan's present law proposal shutdown benefits solvency maintenance requirement supplemental cost termination insurance program tion U.S. General Accounting underfunded plans underfunding reduction requirement unfunded liabilities unfunded new liability unfunded old liability unpredictable contingent event waived funding deficiency
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10. lappuse - ERISA prescribes specified annual charges and credits to the alternative account. No accumulated funding deficiency is considered to exist for the year if a contribution meeting the requirements of the alternative account is made, even if a smaller contribution is required to balance charges and credits in the alternative account than would be required to balance the funding standard account for a plan year. During years for which contributions are made under the alternative account, an employer...
6. lappuse - The minimum funding requirements are designed to provide at least a certain level of benefit security by requiring the employer to make certain minimum contributions to the plan. The requirements recognize that, in an on-going plan, pension liabilities are generally a longterm liability. Thus, benefits are not required to be immediately funded, but can be funded over a long period of time. The...
7. lappuse - ... the minimum funding standard for the year. Thus, as a general rule, the minimum contribution for a plan year is determined as the amount by which the charges to the account would exceed credits to the account if no contribution were made to the plan. Accumulated funding deficiencies If, as of the close of any plan year, charges to the funding standard account exceed credits to the account, then the excess is referred to as an "accumulated funding deficiency.
6. lappuse - In general Under the Code and ERISA, certain defined benefit pension plans are required to meet a minimum funding standard for each plan year. As an administrative aid in the application of the funding standard, each defined benefit pension plan is required to maintain a special account called a "funding standard account...
14. lappuse - ... or United States obligations which mature in 3 years or less, held in escrow by a bank or similar financial institution, or (3) such other form of security as is satisfactory to the Secretary of the Treasury and the parties involved. (c) Amount of Security. The security shall be in an amount equal to the excess of (1) the lesser of (A) the amount of additional plan assets which would be necessary...
11. lappuse - The deficit reduction contribution is the sum of (1) the unfunded old liability amount, and (2) the unfunded new liability amount. Calculation of these amounts is based on the plan's current liability. . Current liability The term "current liability" generally means all liabilities to employees and their beneficiaries under the plan (sec.
9. lappuse - ... in actuarial assumptions. If the new assumptions result in an increase in the accrued liability, the plan has a loss from changes in actuarial assumptions. The accrued liability of a plan is the actuarial present value of projected pension benefits under the plan that will not be funded by future contributions to meet normal cost.
6. lappuse - ... can be funded over a long period of time. The maximum funding limitations are designed to limit and allocate efficiently the loss of Federal tax revenue associated with the special tax treatment afforded qualified retirement plans. Thus, annual deductible contributions to a defined benefit pension plan are limited to an amount that is not significantly greater than the amount that would normally be necessary under the employer's long-term actuarial funding method. The minimum and maximum funding...
12. lappuse - unfunded new liability' means the unfunded current liability of the plan for the plan year determined without regard to "(i) the unamortized portion of the unfunded old liability, and "(ii) the liability with respect to any unpredictable contingent event benefits (without regard to whether the event has occurred). "(C) APPLICABLE PERCENTAGE. The term 'applicable percentage...
5. lappuse - ... primarily in the steel, automobile, tire, and airline industries. The PBGC has estimated its future financial status under a variety of assumptions. The...