GAO Study on Worker Uncertainty When Underfunded Plans Terminate

The GAO has issued a study on worker uncertainty in the face of the termination of an underfunded defined benefit plan.

Document Excerpt 

Most participants must wait about 3 years for PBGC to complete the benefit determination process and provide their finalized benefit amounts, but the vast majority are not affected by overpayments or the recoupment process (see figure). Nevertheless, long delays and uncertainty over final benefit amounts make it difficult for workers to plan for retirement, and for retirees who may have come to depend on a certain level of monthly income


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