A new look at premium rates for private-sector pensions was the topic of a recent report and webinar by the National Institute on Retirement Security (NIRS). The group is calling for a reduction in premium rates as part of a broader effort to expand access to defined benefit (DB) plans such as a pension.

The NIRS report was prompted by recent developments in Congress—specifically, a request for information issued by the U.S. Senate Health, Education, Labor, and Pensions (HELP) Committee. "Congress has expressed an interest in learning what the federal government can do to make it easier for private sector employers, who wish to do so, to offer pension plans," the report said. The report is an effort to provide clarity around any upcoming policy actions on private pensions.

"The research indicates that future policy solutions must address two key issues. First, private sector pension plans should provide an avenue for retirement adequacy for the large majority of Americans lacking pensions regardless of their demographic profile and income," NIRS said in a release that accompanied the report. "Second, private-sector pension plans must be affordable and sustainable for employers."