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Intro -- PENSION BENEFIT GUARANTY CORPORATION PREMIUM ISSUES -- PENSION BENEFIT GUARANTY CORPORATION PREMIUM ISSUES -- CONTENTS -- PREFACE -- Chapter 1 PROPOSALS TO CHANGE PENSION BENEFIT GUARANTY CORPORATION'S (PBGC) PREMIUM STRUCTURE: ISSUES FOR CONGRESS∗ -- SUMMARY -- BACKGROUND ON PBGC -- The Financial Position of PBGC -- BANKRUPTCY OF AMERICAN AIRLINES AND EFFECT ON PBGC -- FINANCING OF PBGC -- Revolving and Trust Funds -- PBGC Premiums -- Three Types of PBGC Premiums -- Proposals to Adjust PBGC's Premium Structure -- Analysis of PBGC Premiums and Proposed Changes -- Flat-Rate Premiums -- Variable-Rate Premiums and Proposed Risk-Based Premiums -- PBGC Determinations of Financial Health of Companies in Risk-based Premium Structure -- Countercyclical Nature of Variable-Rate and Risk-Based Premiums -- Comparison with Other Government Insurance Programs -- End Notes -- Chapter 2 PENSION BENEFIT GUARANTY CORPORATION: REDESIGNED PREMIUM STRUCTURE COULD BETTER ALIGN RATES WITH RISK FROM PLAN SPONSORS* -- WHY GAO DID THIS STUDY -- WHAT GAO RECOMMENDS -- WHAT GAO FOUND -- ABBREVIATIONS -- BACKGROUND -- PBGC Funding and Deficit -- PBGC's Current Premium Structure -- Historical Premium Rates Have Been Inadequate to Cover Claims -- VARIOUS OPTIONS ARE AVAILABLE FOR MORE RISK-BASED PREMIUMS -- Adjusting Premiums within the Current Structure -- Alternative Options to Incorporate Additional Risk Factors into Premiums -- Modeling More Risk-Based Options under the President's Proposal -- FDIC's Risk-Based Premiums -- The UK's DB Premium Framework -- MOVING TO A MORE RISK-BASED STRUCTURE SHIFTS PREMIUM COSTS TO RISKIER SPONSORS -- Financially Risky Sponsors Would Be Charged Higher Premiums -- Premium Changes Have Not Been Key Factors in Decisions to Freeze or Terminate Plans -- Other Potential Behavioral Effects Cited, but Impact Uncertain

The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards

Sustainable and adequate old age pensions in ageing societies have become a major topic on the political agenda. This book describes the shift from public to private pensions and explains the differences across ten European countries.

Intro -- Contents -- Foreword -- Contributors -- Introduction -- Chapter 1 -- A Framework for Public Pension Fund Management -- The Growth of Public Sector Pension Funds -- Governance of Public Pension Schemes -- Public Sector Governance: General Issues -- Laying a Foundation for Public Pension Scheme Governance -- A Governance Checklist -- Accountability of Public Sector Pension Schemes -- Laying a Foundation for Public Pension Scheme Accountability -- An Accountability Checklist -- Investment Policies -- Laying a Foundation for Public Pension Scheme Investment Policy and Processes -- An Investment Policy Checklist -- Conclusion -- References -- Annex 1.A: ABP Investment Policy Statement -- Introduction -- I. The Investment process -- II. Investment plans -- III. Implementation of the investment plan -- IV. Social responsibility -- V. The role of the shareholder ("corporate governance") -- VI. Amendment of this Code -- Annex 1.B: Index of Governance Framework Document- Australian Prudential Regulation Authority (APRA) -- 1. Foundations -- 2. Key Roles and Relationships -- 3. Internal Accountability Framework -- 4. External Accountability Framework -- 5. Consequences of Failure to Meet Responsibilities -- Appendix A-Statutory Responsibilities of Board Members -- Appendix B-Matrix of Delegations -- Notes -- Chapter 2 -- Governance of Public Pension Funds:Lessons from Corporate Governance and International Evidence -- Agency Theory and Corporate Governance -- Agency Problems: Separation of Ownership and Control and Moral Hazard Problems -- Resolving Problems -- Agency Problems in Public Pension Plans -- Who Are Public Pension Fund Stakeholders? -- Potential Agency Problems -- Political Involvement: Government Restrictions and Social Mandates -- The Effects on Fund Performance -- Solving Agency Problems -- Separation of Ownership and Control.