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Policymakers should facilitate greater portability of retirement plans for workers who change jobs.
Retirement plan distribution rules should be simplified to improve long-term economic security.
Rollovers of lump-sum retirement benefits into another retirement vehicle should be automatic. Regulations should discourage access to such funds before retirement.
Plan participants should receive their guaranteed benefits from the Pension Benefit Guaranty Corporation when an employer files for bankr
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Vesting">Vesting
- Vesting">Vesting
Vesting in a retirement plan means different things for participants in defined benefit (DB) and defined contribution (DC) plans.
The maximum vesting period for employers’ contributions to 401(k) plans should be no more than one year.
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Integration of Retirement Plans with Social Security">Integration of Retirement Plans with Social Security
- Integration of Retirement Plans with Social Security">Integration of Retirement Plans with Social Security
Social Security integration is an employer practice related to the calculation of the retirement benefits employees receive from a defined benefit (DB) retirement plan.
Pension benefits, from either public or private plans, should not be reduced as a result of Social Security benefits.
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Spousal Rights in Public Retirement">Spousal Rights in Public Retirement
- Spousal Rights in Public Retirement">Spousal Rights in Public Retirement
Federal laws require most public retirement plans to treat spouses, former spouses, and surviving spouses more equitably.
The laws governing state and local retirement funds should be amended where necessary to provide surviving and divorced spouses of public retirees with at least the same protections that the Employ