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As Assistant Secretary, Campbell was the primary Federal regulatory and enforcement official for Title I of the Employee Retirement Income Security Act of 1974 (ERISA). Mr. Campbell reflected on his service in a Spring 2009 interview with InBrief, a publication of Center for Tax Law and Employee Benefits at the John Marshall Law School. [2]
Prior to January 1986, PWBA was known as the Pension and Welfare Benefits Program. Originally the Program was established as an Office within the Labor Management Services Administration reporting the then Assistant Secretary Paul Fasser and his successors from 1974 through 1986.
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
Social Security Rules Could Result in Pension-Eligible Recipients Having Benefits Taken Back — How To Plan for Overpayments. Vance Cariaga. December 6, 2023 at 9:51 AM.
Of households with less than $50,000 in annual retirement income, only 27% depend on a pension plan for some of that income. In wealthier households, the percentage is more than double at 55%.
The average 30-year fixed mortgage rate is hovering around 7%, which is a tough financial burden to bear, especially for those (like Campbell) on a limited retirement income.
The United States Civil Service Commission was created by the Pendleton Civil Service Reform Act of 1883. The commission was renamed the Merit Systems Protection Board (MSPB), and most of commission's former functions—with the exception of the federal employees appellate function—were assigned to new agencies, with most being assigned to the newly created U.S. Office of Personnel ...
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...