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Federal Employee Retirement Programs: Budget and Trust Fund Issues

Description: Retirement annuities for civilian federal employees are provided mainly through two programs: the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). These annuities are financed through a combination of employee contributions and payments made by the federal government to the civil service retirement trust fund. This report discusses the two programs, how they work, and how they are financed.
Date: March 14, 2007
Creator: Purcell, Patrick J.
Partner: UNT Libraries Government Documents Department
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Pension Issues: Lump-Sum Distributions and Retirement Income Security

Description: This report covers several issues regarding pensions. Forty-seven percent of all workers aged 21 and older participated in employer-sponsored retirement plans in 2006, but not all of these workers will receive a pension or other income from these plans when they retire.
Date: January 7, 2009
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Social Security: The Windfall Elimination Provision (WEP)

Description: This report discusses the windfall elimination provision (WEP), which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because of Social Security’s benefit formula that favors workers with smaller amounts of Social Security-covered career earnings. Opponents contend that the provision is basically imprecise and often unfair.
Date: January 14, 2008
Creator: Haltzel, Laura
Partner: UNT Libraries Government Documents Department
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Summary of the Pension Protection Act of 2006

Description: This report summarizes the main provisions of the Pension Protection Act (PPA) as they affect single-employer defined benefit plans, multiemployer defined benefit plans, and defined contribution plans.
Date: October 23, 2006
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Social Security: The Windfall Elimination Provision (WEP)

Description: This report discusses the windfall elimination provision (WEP), which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because Social Security’s benefit formula is weighted such that workers with low lifetime earnings receive a greater share of their covered earnings in benefits than workers with medium or high lifetime earnings. Opponents con… more
Date: May 11, 2009
Creator: Shelton, Alison M.
Partner: UNT Libraries Government Documents Department
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Social Security: The Windfall Elimination Provision (WEP)

Description: This report discusses the windfall elimination provision (WEP), which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because of Social Security’s benefit formula that favors workers with smaller amounts of Social Security-covered career earnings. Opponents contend that the provision is basically inaccurate and often unfair.
Date: March 8, 2007
Creator: Haltzel, Laura
Partner: UNT Libraries Government Documents Department
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S. 1783: The Pension Security and Transparency Act of 2005

Description: From Summary: "This report summarizes the major provisions of S. 1783, the Pension Security and Transparency Act 2005. The bill combines provisions of S. 219, the National Employee Savings and Trust Equity Guarantee Act, reported by the Finance Committee, and the Defined Benefit Security Act, reported by the Committee on Health, Education, Labor, and Pensions."
Date: October 18, 2005
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Age Dependency Ratios and Social Security Solvency

Description: As highlighted by the Social Security Administration (SSA), the aging of the (United States) population, hastened by the impending retirement of the huge baby-boom generation, has caused policy-makers to question whether the U.S. Social Security system can meet the demands for retirement benefits in the future. Because the current system largely pays benefits through taxes paid by current workers, the financial health of the system is sensitive to the ratio of dependents to workers—sometimes ca… more
Date: October 27, 2006
Creator: Shrestha, Laura B.
Partner: UNT Libraries Government Documents Department
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The Retirement Savings Tax Credit: A Fact Sheet

Description: This report discusses the saver's tax credit, under which eligible individuals receive a non-refundable tax credit of up to $1,000 for contributing to a traditional IRA or an employer-sponsored retirement plan that is qualified under §401, §403 or §457 of the Internal Revenue Code. The credit was first available in 2002 but will expire after 2006 unless extended by Congress.
Date: April 1, 2004
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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H.R. 4: The Pension Protection Act

Description: This report discusses the Pension Protection Act (PPA) reforms and the funding rules for defined benefit pensions; requires employers to disclose more information about pension funding; restricts benefit payments and accruals in underfunded plans; and clarifies, prospectively, that cash balance pension plans do not violate legal prohibitions on age discrimination in employee benefits.
Date: September 27, 2006
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Individual Retirement Accounts: A Fact Sheet

Description: This report discusses general information about individual retirement accounts (IRAs), established by the Employee Retirement Income Security Act of 1974 (P.L. 93-406) to promote retirement saving; the accounts were limited at first to workers (and spouses) who lacked employer pension coverage.
Date: February 22, 2001
Creator: Graney, Paul J.
Partner: UNT Libraries Government Documents Department
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Converting Retirement Savings into Income: Annuities and Periodic Withdrawals

Description: To a worker contemplating retirement, there is perhaps no more important question than "How long will my money last?" Congress has a strong interest in the income security of older Americans because much of their income is either provided directly from public programs like Social Security, or in the case of pensions and retirement accounts, is subsidized through tax deductions and deferrals. This report discusses risks involved with retirement fund disbursement and strategies for dealing with s… more
Date: December 1, 2008
Creator: Mulvey, Janemarie & Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Pension Benefit Guaranty Corporation (PBGC) Investment Policy: Issues for Congress

Description: The Pension Benefit Guaranty Corporation is a federal corporation established under Title IV of the Employee Retirement Income Security Act of 1974. It insures private pension beneficiaries against the complete loss of accrued benefits if their defined benefit pension plan is terminated without adequate funding. It receives no appropriations from general revenue. Its operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income fr… more
Date: September 8, 2008
Creator: Kinneen, Kelly & Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Veterans' Benefits: Issues in the 110th Congress

Description: This report discusses veterans' benefits issues that are already part of the legislative agenda for the 110th Congress or are likely to be of interest to Congress. These benefits and issues fall under the jurisdiction of the Department of Veterans Affairs (VA), Veterans Benefits Administration (VBA). Also presented in this report are an overview of the benefits and their eligibility requirements, data on both the veteran population and the benefit population, and summary information on the FY20… more
Date: August 15, 2008
Creator: Davis, Carol D.; Loane, Shannon S.; Peterson, Meredith; Scott, Christine; Perl, Libby & Weimer, Douglas Reid
Partner: UNT Libraries Government Documents Department
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Regulating Private Pensions: A Brief Summary of ERISA

Description: This report briefly discusses the Employee Retirement Income Security Act of 1974 (ERISA), and how it protects the interests of participants and beneficiaries in private-sector employee benefit plans. ERISA covers a number of fringe benefits provided by employers, but most of its provisions deal with pension plans. Pension plans sponsored by the federal, state, and local governments, or by churches generally are exempt from ERISA.
Date: January 15, 2004
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Overview of Filipino Veterans' Benefits

Description: This report defines the four specific groups of Filipino nationals who served under the command of the United States. It also outlines the Rescission Acts of 1946, benefit changes since 1946, current benefits for Filipino veterans by group, and recent legislative proposals and legislation.
Date: October 10, 2008
Creator: Panangala, Sidath Viranga; Scott, Christine & Davis, Carol D.
Partner: UNT Libraries Government Documents Department
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