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Public l-lear lng <br />3une 12, 1980 <br />Stud), Group 2 <br />Downtown Radisson ?lotel' <br />Minneapolis~ Minnesota <br /> <br />Retirement Income Funding and Financing Issues <br /> <br />By the time of this hearing, it is likely that the Commission will have made an interim <br />recommendation regarding the level~ or' levels, which it considers to be an adequate <br />retirement income. This hearing of the Study Group will focus on the ability of the <br />various systems to pay for promised benefits and to finance an adequate retirement <br />income. <br /> <br />It is expected that the Study Group will receive reports on a number of projects which <br />are assessing some of the major retirement income systems, including:' an ongoing <br />study by Howard gtinklevoss and Associates of state/local retirement' systems; an <br />actUarial analysis of the social security system and the federal retirement plans. In <br />addition, the Study Group would hope to include witnesses representing private sector <br />plans and actuarial consulting firms to dis6uss various private sector funding issues. <br /> <br /> Some Key Issues to be Discussed Are: <br /> <br />What are the advantages/disadvantages of advance-funding vs. pay-as-you-go <br />funding for public and private pension plans7 <br /> <br />Who pays the real cost of employer and employee contributions to retirement <br />income programs? <br /> <br />Should social security and public employer pension plans be financed differently than <br />private pensions? <br /> <br />Do ERISA minimum' funding standards provide adequate bane[it security for private <br />sector single employer and/or multiemptoyer plan beneficiaries? Does title IV o£ <br />ERISA provide adequate benefit guaran tees for private pension bene[iciaries? <br /> <br />Are ER[SA minimum funding standards appropriate for federal and/or state and <br />local pension programs? <br /> <br />What are the guiding principles in the determination ot[ funding, if any, of <br />retirement income benefits for social security, federal and state/local government <br />pensions, and employer-based pensions? <br /> <br />.z.v:; s ::5-db *.':: ~li ~H'ow ;does:a ip'tan~ spons0r'd~t'e~'rnih' .~' ~ !pr0'per :leVel .oJ[:a..qs_¢.~.~9- <br /> <br /> <br />