Pension News

The Intersector Group released the notes of its April 2018 meeting with the Pension Benefit Guaranty Corporation. (September 28, 2018)
The Multiemployer Plans Committee submitted a follow-up letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans on key topics discussed during a June 22 meeting regarding loan proposals and other solutions for troubled multiemployer pension plans. (September 26, 2018)
The Pension Committee published a practice note covering topics related to the implementation of the spot rate approach to determining benefit obligations, service cost, and interest cost under accounting standards and other granular approaches. (September 24, 2018)
The Pension Committee released an exposure draft of practice note on current and emerging practices in the development of liabilities and cost estimates for pension plans with benefits paid as a lump sum. The comment deadline for this exposure draft is November 15, 2018. (September 21, 2018)
The Intersector Group released an Academy Alert highlighting time-sensitive information in advance of the publication of the notes from its April 4 meetings with the Internal Revenue Service (IRS) and the U.S. Department of the Treasury. The Intersector Group has chosen to release the following information now due to the time-sensitive nature for plan sponsors who are considering making contributions to defined benefit (DB) plans on Sept. 15. The full minutes of the group’s meeting with the IRS and Treasury will be published in the near future.
(September 14, 2018)
Ted Goldman, the Academy's Senior Pension Fellow, testified before the U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans at a hearing on "Lifetime Income Solutions as a Qualified Default Investment Alternative (QDIA) - Focus on Decumulaion and Rollovers." Read Goldman's testimony and presentation slides. (August 17, 2018)
The Multiemployer Plans Committee released notes from its meeting on Feb. 23, 2018 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities. This meeting supplements the first meeting between these parties on this topic, which was held on Feb. 22, 2017. (July 31, 2018)
The Pension Committee, the Public Plans Committee, and the Multiemployer Committee submitted a comment letter to the ASB on exposure drafts of proposed revisions to ASOPs 4, 27, and 35. (July 31, 2018)
The Lifetime Income Risk Joint Task Force submitted a comment letter to Congress on the Lifetime Income Disclosure Act. (July 6, 2018)
The Social Security Committee released an issue brief on the 2018 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program. (June 22, 2018)
Ted Goldman, Senior Pension Fellow, responded to questions for the record from the Joint Select Committee on Solvency of Multiemployer Pension Plans April 18 hearing on “The History and Structure of the Multiemployer Pension System.” (June 7, 2018)
The Multiemployer Plans Committee released an issue brief that discusses the costs and risks associated with multiemployer loan programs, and the ways in which these programs could benefit troubled plans and their participants. (May 4, 2018)
The Social Security Committee released an issue brief that examines automatic adjustment options to address Social Security's financial challenges. (May 4, 2018)
Ted Goldman, the Academy’s Senior Pension fellow, testified before the Joint Select Committee on Solvency of Multiemployer Pension Plans at a hearing on “The History and Structure of the Multiemployer Pension System.” Watch the full committee hearing here (Goldman’s testimony begins at the 58m 44s mark) and read Goldman’s testimony here. (April 18, 2018)
The Academy released a quiz on lifetime income that poses questions and answers to help consumers understand the issues and concepts behind planning a sound lifetime income strategy.
(April 13, 2018)
The Academy hosted a Capitol Hill briefing on lifetime income. The presentation highlighted public policy options and practical tools that can help to secure lifetime incomes for retirees. (April 13, 2018)
The Academy published a new Essential Elements paper, Income to Last a Lifetime, highlighting the challenges that workers face in planning for the risk that they may live longer in retirement than expected, and outlining public policy approaches to help future retirees secure and manage their lifetime income. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. (April 12, 2018)
The Pension Committee released an issue brief that analyzes the Pension Protection Act of 2006 (PPA) against the principles underlying funding reform.  (April 6, 2018)
The Multiemployer Plans Committee sent a letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans offering the expertise of the Multiemployer Plans Committee as a resource to the Joint Select Committee. (March 12, 2018)
The Intersector Group released the notes of its October 2017 meeting with the Pension Benefit Guaranty Corporation, and the notes of its October 2017 meeting with the Treasury Department and Internal Revenue Service. (March 7, 2018)