Brookings: Topics - Pensions

The Pension Benefit Guaranty Corporation's $22 Billion Deficit

Fri, 13 Nov 2009 00:00:00 GMT

The Pension Benefit Guaranty Corporation (PBGC), which protects the pensions of 44 million workers, announced a $22 billion deficit for fiscal year ending September 2009. Douglas Elliott analyzes the three main reasons for the PBGC’s financial troubles, and cautions that there are serious structural problems within PBGC that cannot be blamed on the financial crisis.

Can the PBGC Ensure Pension Plans during the Bad Economy?

Tue, 28 Jul 2009 18:15:42 GMT

The Pension Benefit Guaranty Corporation ensures the retirement funds of nearly 44 million American workers and retirees, and now plans to assume responsibility for the pension plans of 70,000 GM workers. Lawmakers are concerned about PBGC's growing deficit, which has tripled to roughly $33.5 billion in six months. Douglas Elliott says they have good reason to be worried, given the current economy.

Australia and International Pension Reform: Lessons for the United States

Thu, 16 Jul 2009 10:00:00 GMT

Event Information:

July 16, 2009, 10:00 AM to 12:00 PM

On July 16, the Retirement Security Project and the Urban-Brookings Tax Policy Center hosted Australian Assistant Treasurer Nick Sherry, to discuss the Superannuation Guarantee- Australia's mandatory retirement savings system- and its relevance to American policy-makers.

Pensions, Social Security and the Privatization of Risk

Fri, 27 Mar 2009 09:00:00 GMT

Event Information:

March 27, 2009, 9:00 AM to 11:30 AM

Thirty years of policies favoring private industry and the privatization of shared risks have rewritten the economic rules of the road for all Americans and complicated the task of planning for retirement. On March 27, the Brookings Institution and the Social Science Research Council (SSRC) hosted a forum exploring the effects of privatization on pension security and the ability of Americans to plan for old age.

A Vision for the U.S. Pension System at 100

Thu, 29 Jan 2009 00:00:00 GMT

Despite criticism of the Social Security Act, and it's application to twenty fist century America, Henry Aaron believes that those views are wrong. In broad outline, he says, the system is sound, sensibly designed, and affordable though some changes are now desirable, and that others will, and should, be made as economic and political conditions warrant. But he urges, they should affirm and strengthen the system, not scale it back or repeal it.

Protecting and Strengthening Retirement Savings

Wed, 16 Jul 2008 00:00:00 GMT

Fully half of America’s working families lack any employer-sponsored retirement savings plan. Testifying before a Senate panel, J. Mark Iwry and David C. John called for a common strategy to preserve and expand retirement savings in a manner that transcends partisan differences, an approach that includes preserving employer-sponsored retirement plans and broadening participation and coverage options.

Making Saving for Retirement Easier through Automatic IRAs

Thu, 26 Jun 2008 00:00:00 GMT

J. Mark Iwry and David C. John propose an automatic IRA approach which offers most employees not covered by an employee-sponsored retirement plan the opportunity to save through the powerful mechanism of regular payroll deposits that continue automatically.

Increasing Annuitization of 401(k) Plans with Automatic Trial Income

Thu, 05 Jun 2008 00:00:00 GMT

Despite their many benefits, the take-up rate for annuities is currently low because of behavioral biases and market failures. In this paper, William Gale, J. Mark Iwry, David John and Lina Walker propose a two-year trial to allow retirees to experience the consistency, security, and simplicity of the lifetime income stream guaranteed by annuities.

Missing Markets: Fostering Market Based Solutions to Major Risks

Thu, 05 Jun 2008 09:30:00 GMT

Event Information:

June 05, 2008, 9:30 AM to 12:00 PM

Hurricanes, retirement, home-buying and tax-base erosion all pose financial risks. Yet markets to reduce these risks are elusive. The Hamilton Project at Brookings released papers at a discussion on how sound public policy can play a critical role in helping to foster new markets or expand existing markets in ways that could provide widely shared benefits.

Public Oversight Roundtable on Eliminating Poverty Among District Residents

Wed, 16 Jan 2008 00:00:00 GMT

In testimony before the D.C. City Council Committee on Housing and Urban Affairs, Alice M. Rivlin presents recommendations for reducing poverty in the District. She gives examples of education and training programs that could be funded in the FY2009 budget and reviews longer-term workforce development strategies.

Pursuing Universal Retirement Security Through Automatic IRAs

Thu, 08 Nov 2007 00:00:00 GMT

Nearly half of American workers have no employer-sponsored saving plan. Mark Iwry testified before a congressional panel about a strategy to promote saving for families and the nation. "The Automatic IRA is a disarmingly simple concept," said Iwry.

Pension Reform and Saving

Mon, 05 Jan 2004 00:00:00 GMT

Paper by Barry P. Bosworth and Gary Burtless (1/5/04)

Supply-Side Consequences of Social Security Reform: Impacts on Saving and Employment

Thu, 01 Jan 2004 00:00:00 GMT

Paper by Barry Bosworth and Gary Burtless, Center for Retirement Research at Boston College (January 2004)

Pension Reform and Incentives for Saving and Retirement

Sat, 01 Feb 2003 00:00:00 GMT

A paper by Barry P. Bosworth and Gary Burtless ((1/29/2003)

Distributional Impact of Social Security Reforms: Summary

Tue, 01 Aug 2000 00:00:00 GMT

A paper by Barry Bosworth, Gary Burtless, and Claudia Sahm (8/22/2000)

Living Longer: The Challenges of an Aging Population

Thu, 25 May 2000 00:00:00 GMT

Event Information:

May 25, 2000 at 12:00 AM

The Effects of Social Security Reform on Saving, Investment, and the Level and Distribution of Worker Well-Being

Sat, 01 Jan 2000 00:00:00 GMT

The Effects of Social Security Reform on Saving, Investment, and the Level and Distribution of Worker Well-Being

Let the Deflating Begin: Talkin' 'Bout Our Generation Is Getting Old. And So Are We

Sun, 26 Dec 1999 00:00:00 GMT

Opinion by E.J. Dionne, Jr., Senior Fellow, the Brookings Institution, in The Washington Post, December 26, 1999

Lifetime Earnings Patterns, the Distribution of Future Social Security Benefits, and the Impact of Pension Reform

Wed, 01 Dec 1999 00:00:00 GMT

Center for Retirement Research at Boston College

Privatizing Social Security: The Troubling Trade-Offs

Sat, 01 Mar 1997 00:00:00 GMT

Policy Brief #14, by Gary Burtless and Barry Bosworth (March 1997)

Fed By A Gusher Of Pension And 401(K) Money, The Market Is Behaving Well. Economists Are Optimistic.

Wed, 29 Jan 1997 00:00:00 GMT

Opinion by Martin Mayer, Guest Scholar, The Brookings Institution