The Social Security Admin. (SSA) has issued more than 430 million Social Security numbers (SSN) & cards since the program began in 1935, of which an estimated 300 million belong to living number holders. SSNs have a key role in verifying individuals' authorization to work in the U.S., but SSN cards are also vulnerable to theft & counterfeiting. Concerns about unauthorized workers & the use of counterfeit documents led to this report which: (1) reviews SSA's progress to safeguard the SSN & enhance the card as required under the Intelligence Act; (2) identify key issues to be considered before enhancing the card; & (3) outline the range of options available to SSA for enhancing the card. Includes recommendations. Charts & tables.
Employer-sponsored defined benefit pension plans (DBPP) face unprecedented challenges in the midst of significant changes in our nation's retirement landscape. Many DBPP & the fed. agency that insures them, the Pension Benefit Guaranty Corp. (PBGC), have accumulated large & growing deficits that threaten their survival. Meanwhile, the percentage of Amer. workers covered by DBPP has been declining for 30 years, reflecting a movement toward defined contribution plans (e.g., 401(k) plans). To address these issues, a diverse group of knowledgeable individuals was convened -- incl. gov't. officials, researchers, accounting experts, actuaries, plan sponsor & employee group rep., & members of the investment community. Charts & tables.
Over $81 billion has been committed under the Troubled Asset Relief Program (TARP) to improve the domestic auto industry's competitiveness and long-term viability. The bulk of this assistance has gone to GM and Chrysler, who sponsor some of the largest defined benefit pension plans insured by the federal Pension Benefit Guaranty Corp. (PBGC). This report examines: (1) the impact of restructuring on GM's and Chrysler's pension plans; (2) the impact of restructuring on auto supply sector pension plans; (3) the impacts on PBGC and plan participants should auto industry pension plans be terminated; and (4) how the federal government is dealing with the potential tensions of its multiple roles as pension regulator, shareholder, and creditor.
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