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GAO Reports on Proposal to Allow Buyouts of Pension Plans
Deloitte via BenefitsLink.com May 12, 2009
Excerpt: Asked to identify a basic model for the proposed sale of frozen pension plans to third-party financial firms and to identify the risks and benefits associated with such a proposal, the GAO concluded that buyouts would provide plan sponsors who seek to shed pension liability with greater flexibility and potential costs savings when compared to the sole current alternative of plan termination. However, the GAO also said buyouts would offer participants few advantages for benefit protection beyond that already provided under ERISA, and would raise risks that are difficult to quantify.
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