Tax Policy Center to Hold Symposium on 'Saving Private Pensions'

5/5/2003

From: The Brookings Institution, 202-797-6105, E-mail: communications@brookings.edu, Web site: http://www.brookings.edu

News Advisory:

WHAT: A Tax Policy Center Symposium -- "Saving Private Pensions"

WHEN: Tuesday, May 6, 2 p.m. - 4:30 p.m.

WHERE: Falk Auditorium The Brookings Institution 1775 Massachusetts Avenue, NW Washington D.C.

AGENDA:

2 p.m. - 3 p.m.: The Pension System and Alternative Paths to Reform -- William Gale, Brookings and Tax Policy Center -- Peter Orszag, Brookings and Tax Policy Center

3 p.m. - 4 p.m.: Options for Reform -- Jane Gravelle, Congressional Research Service -- Mark Iwry, Brookings -- Pamela Perun, Urban Institute

Private pensions should encourage workers and employers to save adequately for retirement and should provide the incentives in an efficient and equitable manner. Only half of U.S. workers have pensions, but the plans come at costs that can exceed $100 billion per year. Are the pension tax incentives worth the cost? Are workers using these tax incentives to provide an adequate nest egg for retirement? Are pension subsidies distributed fairly and properly targeted by income? Are the rules exposing workers to too much financial risk? How could the rules be simplified?

Policymakers have focused a great deal of attention on pension issues. Most recently, on April 11, Reps. Rob Portman (R-Ohio) and Benjamin L. Cardin (D-Md.) introduced major new legislation to alter many pension rules.

This Tax Policy Center symposium will examine the current status of the pension system and opportunities and alternatives for reform.

RSVP: Please contact the Brookings Office of Communications by calling 202-797-6105, emailing to communications@brookings.edu, or visiting us online at http://www.brookings.edu/es/events/20030506.htm.