000			02359 a2200289 4500
008			051207s xx 000 0 eng
022			_a1522-3191;
050			_aAC1.S5
082			_a050
100			_aGhilarducci, Teresa,
245		0	_aWhen Bad Things Happen to Good Pensions. _cTeresa Ghilarducci.
260			_bDollars & Sense, _c2005.
440			_aSIRS Enduring Issues 2006. _nArticle 33, _pBusiness, _x1522-3191;
500			_aArticles Contained in SIRS Enduring Issues 2006.
500			_aOriginally Published: When Bad Things Happen to Good Pensions, May/June 2005; pp. 10+.
520			_a"February [2005] was a momentous month for American workers' retirement security. Just days after President [George W.] Bush called for the partial privatization of Social security, his administration proposed major modifications to the system that guarantees employer-sponsored defined-benefit pensions. Both initiatives break with longstanding 'insurance' models of old-age income security and accelerate the use of individual accounts. Defined-benefit pensions, like Social Security, provide a modest but steady stream of income for the duration of a retiree's life. Both systems are based on collective risk sharing: they gather premium contributions from populations facing similar risks--such as old age or disability--and provide a guaranteed stream of income to individuals when those risks befall them." (DOLLARS & SENSE) The article examines the administration's proposals for reforming defined-benefit pensions and the Pension Benefit Guaranty Corporation (PBGC) and concludes that "the defined-benefit pension system needs to be strengthened and expanded--not undermined. The president, and officials at the PBGC who are now supporting the president's proposals, are in an awkward position: they are purportedly saving an agency by eliminating its reason to exist."
599			_aRecords created from non-MARC resource.
650			_aDefined benefit pension plans
650			_aDefined contribution pension plans
610			_aPension Benefit Guaranty Corporation
650			_aPensions
650			_aSocial security
650			_aSocial security _xForecasting
650			_aSocial security _xPrivatization
710			_aProQuest Information and Learning Company _tSIRS Enduring Issues 2006, _pBusiness. _x1522-3191;
942			_c UKN
999			_c36903 _d36903