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Experts Track Continuing Evolution of U.S. Pension System

More changes are anticipated for the U.S. pension system as a result of legislative and regulatory activity last year. The article recaps the experts’ reactions—at EBRI’s spring 2007 policy forum in Washington, DC—to major developments in the pension world: Enactment of the Pension Protection Act (PPA) of 2006, which imposed new funding rules on pension plans, among other things, and major accounting rules issued by the private-sector Financial Accounting Standards Board (FASB) and the public-sector Government Accounting Standards Board (GASB). Press release EBRI Notes Jul 17, 2007 12 pages

Retirement Income Adequacy After PPA and FAS 158: Part One—Plan Sponsors’ Reactions

A new survey shows that about two-thirds of “traditional” (defined benefit) pension sponsors have either changed the plan in the last two years or intend to do so in the next two years. The most frequent plan changes have been to close the defined benefit plan to new hires or freeze it for all members. Pension plan sponsors say the driving forces behind these pension benefit reductions are a new law by Congress that in some cases significantly increases their pension plan costs, and pending accounting rule changes that are also expected to dramatically increase the cost and risk of offering a pension benefit to workers. EBRI Issue Brief Jul 10, 2007 32 pages

Minority Workers Remain Confident About Retirement, Despite Lagging Preparations and False Expectations

Although minority workers are at least as likely as American workers overall to feel confident about their retirement security, their preparations lag behind, according to the 2007 Minority Retirement Confidence Survey (MRCS). According to the survey, less than half of African-American workers (48 percent, down from 62 percent in 2003) and Hispanic workers (41 percent, down from 60 percent in 2003) say they have saved money for retirement, making them less likely than workers overall (66 percent) to have saved. EBRI Issue Brief Jun 5, 2007 20 pages

'Social Security an Increasing Source of Income as Population Ages,' and 'ERISA Pre-emption and Health Care Reform: A History Lesson'

Social Security: Benefits from Social Security are a growing source of income as the nation’s elderly population ages, according to a study by the nonpartisan Employee Benefit Research Institute (EBRI). ERISA Pre-emption: EBRI is reprinting a 1993 article by one of the nation's experts on ERISA and pre-emption of state health insurance regulation. Press release EBRI Notes May 10, 2007 12 pages

Employee Tenure, 2006

Public-sector workers’ median tenure with their current employer is about 80 percent higher than private-sector workers, according to a study published by the Employee Benefit Research Institute (EBRI). The study also finds that the percentage of long-tenured workers in the public sector declined in 2006 after a steady increase from 1991–2004. Press release EBRI Notes Apr 17, 2007 12 pages