“The Pension Benefit Guaranty Corporation (PBGC) today announced that the maximum insurance benefit for participants in underfunded pension plans terminating in 2009 is $54,000 per year for those who retire at age 65, up from $51,750 for 2008. The amount is higher for those who retire later and lower for those who retire earlier or elect survivor benefits (see chart). If a pension plan terminates in 2009 but a participant does not begin collecting benefits until a future year, the 2009 maximum insurance limits still apply. The Pension Protection Act of 2006 provides that the maximum benefit payable is determined by the legal limits in force on the date of the plan sponsor’s bankruptcy and not on the date of plan termination.”
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Daily Archives: November 3, 2008
EU-US Agreement on Air Cargo Security
Follow up to November 2, 2008 posting – TSA, EU Agree on Cargo Screening Standards – the copy of a Joint Statement of Purpose on Coordination of Efforts to Enhance Air Cargo Security, by Department of Homeland Security’s Transportation Security Administration and the European Union’s Directorate-General for Energy and Transport. Continue Reading
The DOJ's Single-Firm Conduct Report
The DOJ’s Single-Firm Conduct Report: Promoting Consumer Welfare Through Clearer Standards for Section 2 of the Sherman Act, October 2008 “On September 8, 2008, the Department of Justice (the “Department”) issued a 213-page report entitled Competition and Monopoly: Single-Firm Conduct Under Section 2 of the Sherman Act (the “Single-Firm Conduct Report” or “Report”). The Report… Continue Reading
Analysis of NASA's Plans for Continuing Human Spaceflight After Retiring the Space Shuttle
CBO: An Analysis of NASA’s Plans for Continuing Human Spaceflight After Retiring the Space Shuttle, November 3, 2008, Letter to the Rep. Dave Weldon, M.D. “In response to your request, the Congressional Budget Office (CBO) has analyzed the human spaceflight program of the National Aeronautics and Space Administration and, in particular, its plans for… Continue Reading
New GAO Reports: Airport and Airway Trust Fund Excise Taxes, Highway Trust Fund Excise Taxes
Applying Agreed-Upon Procedures: Fiscal Year 2008 Airport and Airway Trust Fund Excise Taxes, GAO-09-90R, November 03, 2008 Applying Agreed-Upon Procedures: Fiscal Year 2008 Highway Trust Fund Excise Taxes, GAO-09-91R, November 03, 2008 The Upcoming Transition: GAO’s Efforts to Assist the 111th Congress and the Next Administration, before the Subcommittee on Government Management, Organization, and Procurement,… Continue Reading
CRS: Presidential Transitions: Issues Involving Outgoing and Incoming Administrations
CRS Report – Presidential Transitions: Issues Involving Outgoing and Incoming Administrations, October 23, 2008. “The smooth and orderly transfer of power can be a notable feature of presidential transitions, and a testament to the legitimacy and durability of the electoral and democratic processes. Yet, at the same time, a variety of events, decisions, and activities… Continue Reading
Federal Housing Finance Agency announced formal integration of three agencies into FHFA
News release: “James B. Lockhart, Director of the Federal Housing Finance Agency (FHFA), announced the formal integration of three agencies into FHFA…FHFA, created July 30 in the Housing and Economic Recovery Act (HERA) to oversee Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks, combines the Office of Federal Housing Enterprise Oversight (OFHEO),… Continue Reading
DHS OIG: FEMA's Exit Strategy for Temporary Housing in the Gulf Coast Region
OIG-09-02 – Federal Emergency Management Agency’s Exit Strategy for Temporary Housing in the Gulf Coast Region (PDF, 27 pages) New 10/31/2008 “The Federal Emergency Management Agencys (FEMA) strategy for ending its direct housing assistance program for Hurricanes Katrina and Rita is generally sound, and FEMA has made considerable progress recovering its temporary housing units, i.e.,… Continue Reading
