Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Pension Portability and Preservation: Issues and Proposals

  Premium   Download PDF Now (30 pages)
Report Type Reports and Testimonies
Report Date July 12, 1988
Report No. T-HRD-88-24
Subject
Summary:

GAO examined pension portability and preservation for workers who have vested pension benefits, focusing on: (1) how job mobility affected workers' pension incomes in retirement; (2) types of portability and preservation arrangements; and (3) legislative proposals designed to enhance pension portability and preservation. GAO found that: (1) workers vested in a series of defined benefit plans could suffer retirement income losses, while those vested in a series of defined contribution plans would not experience a job mobility loss if they kept their vested pension assets in the plans or rolled them over into another plan; (2) the private pension system had limited pension and service portability; (3) many employees spent rather than preserved their cashed-out pension assets when changing jobs; and (4) implementation of current proposals would entail difficult economic tradeoffs by employers, employees, and the government.

« Return to search Government Accountability Office reports