United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2005-06-01 monographic deposited born digital 62 p. GA 1.13:GAO-05-578SP https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-578SP P0b002ee18039d550 f:d05578sp DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-05-578SP machine generated eng fdlp REPORT GAOREPORTS-GAO-05-578SP GAO-05-578SP Employee retirement plans Financial management Interest rates Investment planning Pensions Retirement Retirement income Strategic planning Other Written Product A25857

Employer-sponsored defined benefit pension plans face unprecedented challenges in the midst of significant changes in our nation's retirement landscape. Many defined benefit plans and the federal agency that insures them, the Pension Benefit Guaranty Corporation (PBGC), have accumulated large and growing deficits that threaten their survival. Meanwhile, the percentage of American workers covered by defined benefit plans has been declining for about 30 years, reflecting a movement toward defined contribution plans (e.g., 401(k) plans) and perhaps fundamental changes in how our society thinks about who should bear responsibility and risk for the retirement income security of American workers. It is imperative that policymakers address not only the challenges facing the defined benefit system and the PBGC, but also consider broader questions about overall retirement income policy. To address these issues, GAO convened a diverse group of knowledgeable individuals who have been influential in shaping the defined benefit pensions debate over the years. Participants included government officials, researchers, accounting experts, actuaries, plan sponsor and employee group representatives, and members of the investment community. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-578SP/html/GAOREPORTS-GAO-05-578SP.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-578SP/pdf/GAOREPORTS-GAO-05-578SP.pdf GAO-05-578SP https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-578SP Other Written Product GAO-05-578SP; Highlights of a GAO Forum: The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation; Employee retirement plans Financial management Interest rates Investment planning Pensions Retirement Retirement income Strategic planning Title 26 Section 412(m)(4)(D) 26 U.S.C. 412(m)(4)(D)