Participants Need Information on Risks They Face in Managing Pension Assets at and during Retirement

By General Accounting Office

Book Id: WPLBN0000210697
Format Type: PDF eBook:
File Size: 0.6 MB
Reproduction Date: 2005

Title:	Participants Need Information on Risks They Face in Managing Pension Assets at and during Retirement
Author:	General Accounting Office
Volume:
Language:	English
Subject:	Government publications, Accountability in government, United States. General Accounting Office
Collections:	Government Library Collection, Government Accountability Integrity Reliability Office Collection
Historic Publication Date:
Publisher:	United States General Accounting Office (Gao)


Citation APA MLA Chicago Accounting Office, B. G. (n.d.). Participants Need Information on Risks They Face in Managing Pension Assets at and during Retirement. Retrieved from https://self.gutenberg.org/

Description
Government Accountability Integrity Reliability Office Collection

Excerpt
Excerpt: Defined benefit (DB) plans make annuities available to all participants at retirement, while defined contribution (DC) plans make lump sums available to almost all participants. Recent data also show that about half of private sector workers who participated in DB plans had a lump sum option at retirement, and over a third of their counterparts in DC plans had an annuity option. Plan sponsors GAO spoke with provide retiring participants with applicable notices about their benefit payout options available under the plan. Additional information provided by plan sponsors GAO spoke with primarily focused on saving for retirement. Risks that can affect retirement income, or other considerations relevant to managing pension assets at and during retirement were generally not discussed.