America faces its greatest financial challenge since the Great Depression: The U.S. Pension Crisis! A devastating pension crisis looms as spiking contribution costs and promised benefit payments threaten the solvency of many corporations, cities, and states. This book details how improper accounting rules misled pension managers to follow the wrong objectives, leading to a financial crisis of epic proportions. Award-winning author Ronald J. Ryan details just how the pension crisis developed and what pension decision makers need to do now to solve this dilemma. He offers a compelling strategy to reduce pension costs and reach a fully funded status.
But solve it we must, because this is much more than a financial problem we can fix with tax reform or kick down the road; it's a pervasive issue that directly affects the quality of life of our families, friends, and coworkers.
Calculated from Pension and Welfare Benefits Administration, “Abstract of 1991 Form 5500 Annual Reports,” p. 18, table A12. 9. Beth Kobliner, “Avoiding a Pension Plan Rip-off,” Money, November 1991, p. 96. 10. Douglas Frantz and Robert ...
California's unfunded public pension liability, when measured correctly, is two to four times larger than official government estimates.
Social Insecurity tells the story of a massive and international retirement robbery—a substantial transfer of wealth from everyday workers to Wall Street financiers via tremendously costly hidden fees.
The Pension Crisis
For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security.
Many quantitative empirical studies of retirement preparedness find that a substantial number of US households face a potential financial crisis at some point in the future.
Politicians will defer until circumstances force them to reckon with a disaster of their own making. In California Dreaming, Lawrence J. McQuillan pulls back the curtains covering this unfunded liability crisis.
America's Pensions: The Next Savings and Loan Crisis? : Hearing Before the Special Committee on Aging, United States Senate, One...
The Impact of the Financial Crisis on Workers' Retirement Security: Field Hearing Before the Committee on Education and Labor, U.S....