pensions & social security

2006 pension reform

Bill in Brief

What's up

With airlines going into the red and steel companies struggling to survive, the Pension Benefit Guaranty Corp (PBGC) has picked up a large load of pension payments over the past few years - and so fallen into deep deficits of its own. In 2006 Congress passed a bill to close PBGC's funding gap by forcing companies to follow stricter funding rules and pay higher premiums into the federal back-up fund.



With baby boomers teetering on retirement and companies straining to pay their pensioners, America is bracing to see how we'll keep our retirees afloat without sinking the rest of us. See citizenJoe's issue guide on Social Security and brief on private pensions for the two issues being bandied in Congress. Here we offer the retiree lay of the land…

Retirement Plans: a primer

There are 3 main sources for retirement income: