University Park, Pa. – A faculty member at Penn State's Smeal College of Business testified before the U.S. Senate regarding pension funding during recessions.
Ron Gebhardtsbauer, faculty-in-charge of Smeal's Actuarial Science Program, testified Thursday (Oct. 29) before the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP). Gebhardtsbauer suggested ways to fix the funding issues being experienced by defined benefit retirement plans and offer long-term solutions to make U.S. pension programs viable for years to come.
Archived video of the hearing, titled "Pensions in Peril: Helping Workers Preserve Retirement Security Through a Recession," isavailable on the committee's Web site at http://help.senate.gov/Hearings/2009_10_29/2009_10_29.html.
Gebhardtsbauer is on the second panel and a transcript of his testimony will be available on Smeal's Research with Impact Web site.
Gebhardtsbauer has more than 30 years of experience in actuarial science. Before joining Smeal in 2008 to direct the Actuarial Science Program, he was senior benefits adviser to the U.S. Senate Committee on Finance. Prior to his service with Congress, Gebhardtsbauer spent nearly 12 years as senior pension fellow with the American Academy of Actuaries. He also spent eight years as the chief actuary for the Pension Benefit Guaranty Corp.