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, Representatives Rob Portman (R-OH) 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.

AGENDA

2:00-3:00	The Pension System and Alternative Paths to Reform William Gale, Brookings and TPC Peter Orszag, Brookings and TPC
3:00-4:00	Options for Reform Jane Gravelle, Congressional Research Service Mark Iwry, Brookings Pamela Perun, Urban Institute

PAPERS AND PRESENTATIONS

Corporate Tax Disclosure at the State Level: The Massachusetts Experience [PDF— 242 KB]
Robert Tannenwald

What Can We Infer About a Firm's Taxable Income from its Financial Statements? [PDF— 147 KB] [PPT— 130 KB]
Michelle Hanlon

Bridging The Reporting Gap: A Proposal For More Informative Reconciling of Book and Tax Income [PDF— 161KB] [PPT— 101 KB]
Lillian F. Mills and George A. Plesko

Discussion of "What Can We Infer About a Firm's Taxable Income from its Financial Statements?" [PPT— 41 KB]
Michele Hanlon

Comments on "Bridging the Reporting Gap: A Proposal for MoreInformative Reconciling of Book and Tax Income? by L. Mills and G. Plesko [PDF— KB]
Mihir A. Desai