Review Pension Plans: 70% of Federal Government Employees Still Enjoy “Guaranteed” Pensions, While Such Defined-Benefit Pension Plans Are Increasingly Rare in Private Sector (now at 32% vs. 84% in 1980) Employees with Guaranteed Pensions (% Participating in Defined Benefit Pensions) Federal Government vs. State & Local Government vs. Private Sector, 1980-2007 16pps a y al _— — -State & Local = Government 5 BO% IN TI ne 7) i= o o xo] o £ BO% = enn ee een ee ee ee ——Federal © Government 8 37pps 3 0, g AO% = mem = meres = cere 5 mere 5 sere 5 caret = cet och = mer oct osama = emerge = cemites = cin ote smo a ——Private Sector r-% & Ww 0% [mT TT T TT TT T T T T T T T T T TT T T T T T T T T T T T TJ 1980 1985 1990 1995 2000 2005 KP Sources: EBRI Databook on Employee Benefits. i USA Inc. | What Might a Turnaround Expert Consider? 339 Review Pension Plans: Private Sector Has Embraced “Defined Contribution” Pension Plans, While Federal + State & Local Governments Lag Behind Participation Rate of Defined Contribution Program: Federal, State/Local vs. Private Sector, 1980-2007 < 2 BO% i) < wv o < 2 ——Private Sector FS < 3) , ia AOU = = conc smo 5 eum mes cen g cums Bin ~ Suet & mute BG EES OTAD Boum B cue B mB SUNN SoS Sm B meme Bm tcl) = —Federal a a Government cs sa & ® fom s 20% ------------------ 5 eg SE cane 6 ee ect was mar es gg gg A = State / Local o a Government o =o n - g - 3 o-----7 a £ Ww he 0% a a ss a | ° 1984 1989 1994 1999 2004 KP Sources: EBRI Databook on Employee Benefits Ce USA Inc. | What Might a Turnaround Expert Consider? 340 HOUSE_OVERSIGHT_021011