Promoting effectiveness and efficiency in Federal Lending and Insurance COFFI is a nonpartisan, non-ideological, nonprofit, public policy institute focused on the federal governement's direct and guaranteed lending and insurance activities.


New Terrorism Risk Insurance Forum

A summary of the May 2, 2005 policy forum. Download PDF version  Download full transcript

PBGC: Premium Hike Possibilities

Congress and the Administration are looking to increase PBGC premiums. This paper summarizes current premium rules and the issues surrounding potential changes. Download PDF version

PBGC: White Paper Implications

PBGC has published its first quantitative estimates of the effect of reforms on pension funding and PBGC claims. Download PDF version

PBGC: Budget Process May Shape Pension Bill

A Congressional Budget Resolution may determine a great deal about the shape and fate of pension reform legislation. Download PDF version

TRIA Renewal: Key Questions

This paper lists six key questions that we believe should be addressed as part of the renewal process for the Terrorism Risk Insurance Program. Download PDF version

PBGC: Policy Options

A comprehensive listing of alternative solutions that have been proposed to PBGC's financial problems. Each solution is briefly explained and the pros and cons are presented neutrally. Download PDF version

PBGC: Updated Cash Flow Model from COFFI

We have updated our model to reflect 2004 results and many technical enhancements. Our base case now shows a $78 billion hole.  Download PDF version

Terrorism Risk Insurance Act of 2002: A Primer

The federal government provides a backstop to the insurance industry for terrorist attacks up to $100 billion a year. The Act expires next year unless reauthorized. This primer explains TRIA in non-technical language. Download PDF version

Terrorism Risk Insurance: Conceptual Issues

This paper addresses basic conceptual issues related to the Terrorism Risk Insurance Act, or any other means of providing federal terrorism insurance. Download PDF version

TRIA: Where Do We Go From Here?

This third paper on TRIA addresses questions directly relevant to potential reauthorization. Download PDF version

PBGC: 2004 Showed Record Losses

PBGC lost $12.1 billion in 2004, raising its accumulated deficit to $23.3 billion. Download PDF version

PBGC: Effects of USAir and UAL Terminations

An already insolvent PBGC is about to absorb $8.5 billion in new claims from two major airlines. Download PDF version

PBGC: When Will the Cash Run Out?

PBGC could exhaust its cash and investments by 2020, according to projections from our cash flow model, the first such model to be publicly available.
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PBGC: A Yield Curve Primer

COFFI has created a non-technical explanation of the proposal to use a "yield curve" to set the discount rate to calculate required pension contributions. Download PDF version

PBGC: A Primer

44 million people rely on PBGC to help protect $1.5 trillion of pension benefits. PBGC faces an $11.2 billion deficit in its main program, sharply down from the $7.7 billion surplus two years ago. This is a non-technical primer on PBGC and pensions. Download PDF version

PBGC: Fundamental Questions

A companion piece to the primer. This focuses on seven key questions that should be answered to take a coherent position on pension policies. Download PDF version

Budgeting for Credit Programs: A Primer

Critical decisions about the federal government’s $1.4 trillion of loans and guarantees are based on complex budget scoring rules. This is a non-technical primer on the subject. Download PDF version