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Defined Benefit Pension Plans

Pension Plan De-risking: Is It Bad, Is It Legal, Can It Be Stopped, Slowed, or Moderated?

Publication

Norman Stein, the Pension Rights Center's senior policy advisor, authored this policy paper [PDF] on pension plan de-risking.

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Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits

Publication

Since 2012, a number of large pension plan sponsors have given selected participants a limited-time option of receiving their retirement benefits in the form of a lump sum. Although sponsors' decisions to make certain lump sum “window” offers may be permissible by law, questions have been raised about participants' understanding of the financial tradeoffs associated with their choice.

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Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures

Publication

A new national economic impact study finds that DB pension benefits have a significant economic impact: 6.5 million American jobs and $1 trillion in economic output. The analysis finds that the benefits provided by state and local government pension plans have a sizable impact that ripples through every state and industry across the nation.

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Unfair Pension Takebacks: What Can Be Done to Protect Retirees

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Recoupment occurs when a pension plan administrator erroneously overpays pension benefits to retirees. Often these overpayments are made for many years before anyone realizes that a mistake has been made. When a plan finally realizes it has made a mistake, it corrects future payments and recoups the overpaid amounts either by reducing future payments or demanding a lump sum.

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Little Information Available on Qualified Supplemental Executive Retirement Plans

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This report addresses (1) what is known about the prevalence and design of QSERP arrangements and to what extent recent economic conditions have influenced plan sponsors implementing these arrangements; (2)the key regulatory and statutory issues associated with these arrangements; and (3) the implications of these arrangements for involved parties, including the Pension Benefit Guaranty Corpora

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Program Perspectives: "Frozen Defined-benefit Plans

Publication

This issue of Program Perspectives focuses on defined-benefit retirement plans that are frozen.

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The Disappearing Defined Benefit Pension and Its Potential Impact on the Retirement Incomes of Baby Boomers

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This article uses a microsimulation model to estimate how freezing all remaining private-sector and one-third of all public-sector defined benefit (DB) pension plans over the next 5 years would affect retirement incomes of baby boomers.

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The Pension Factor: Assessing the Role of DB Plans in Reducing Elder Hardships

Publication

The study finds that pensions reduce – and in some cases eliminate – the greater risk of poverty and public assistance dependence that women and minority populations otherwise would face.

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Defined Benefit Pensions: Survey Results of the Nation’s Largest Private Defined Benefit Plan Sponsors

Publication

GAO was asked to examine (1) what changes employers have made to their pension and benefit offerings, including to their defined contribution (DC) plans and health offerings over the last 10 years or so, and (2) what changes employers might make with respect to their pensions in the future, and how these changes might be influenced by changes in pension law and other factors.

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The Financial Crisis and Private Defined Benefit Plans

Publication

This brief explores what a loss of roughly $1 trillion of private sector defined benefit equities means for the individual participants and for the firms that sponsor those plans.

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