Bradley Belt
Bradley Belt
Bradley Belt is the former executive director of the Pension Benefit Guaranty Corporationin the United States, and an expert on retirement security and its impact on financial markets and the economy. He was appointed by President George W. Bush to replace Steven Kandarian and later resigned on March 23, 2006. He currently serves as the CEO for Palisades Capital and the managing director for the Milken Institute. Eisenhower Fellowships selected Bradley Belt as a USA Eisenhower Fellow in 1997. Belt...
companies funding legal meet obligation ongoing operation pension remain
As long as companies remain in operation with ongoing pension plans, they have a legal obligation to meet their funding requirements.
additional available benefits congress eventually insurance money pay pension plans program provide reform run unless
The money available to pay benefits is eventually going to run out unless Congress enacts comprehensive pension reform to get plans better funded and provide the insurance program with additional resources.
greater losing placed promised risk workers
If those contributions are not made, workers and retirees will be placed at greater risk of losing promised benefits,
anecdotal appear evidence frozen increased mass number pension plans reports since system
While anecdotal evidence suggests that the number of frozen pension plans has increased since 2003, reports of a mass exodus from the defined-benefit pension system appear to be overstated.
additional available benefits congress eventually financial health insurance money pay pension plans program provide reform run unless
Unfortunately, the financial health of the PBGC is not improving. The money available to pay benefits is eventually going to run out unless Congress enacts comprehensive pension reform to get plans better funded and provide the insurance program with additional resources.
benefits call pensions problem taxes-and-taxation taxpayers whom
The problem will become much worse. To call upon taxpayers - most of whom don't have defined-benefit pensions - to pay for the benefits of those who do would be fundamentally unfair.