US - The Pension Benefit Guaranty Corporation (PBGC) should streamline its process to determine the benefits of complex plans, as some determinations can take up to nine years, the Government Accountability Office said.
In a report to the Committee on Health, Education, Labor, and Pensions, the GAO said the PBGC, the country's corporate pension safety net, generally takes less than three years to make benefit dete...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date