Pension News

The Pension Committee submitted a comment letter to the U.S. Treasury Department requesting guidance from the IRS and Treasury to resolve uncertainties that exist as to how variable annuity plans should be valued for minimum funding and Internal Revenue Code (IRC) §417(e) purposes. (March 9, 2017)
The Multiemployer Pension Plans Subcommittee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) on alternative two-pool withdrawal liability methods. (February 24, 2017)
The Pension Committee submitted a comment letter to the IRS on proposed regulations to the minimum present value requirements for defined benefit (DB) plan distributions. (February 24, 2017)
Senior Pension Fellow Ted Goldman presented on “Longevity and Retirement Security” at the U.S. Chamber of Commerce’s “The Shifting Paradigm of Retirement” forum in Washington on Feb. 3, reviewing the jointly sponsored Actuaries Longevity Illustrator and the challenges of and potential approaches to addressing longevity risk. View the slides. (February 3, 2017)
The Pension Cost Work Group released an issue brief, Alternatives for Pension Cost Recognition—Implementation Approaches Using Bond Models, that explores potential approaches for determining pension costs. (December 30, 2016)
The Pension Committee, Multiemployer Plans Subcommittee, and Public Plans Subcommittee submitted comments to the Actuarial Standards Board (ASB) on a draft actuarial standard of practice (ASOP) on risk assessment and disclosure. (October 31, 2016)
The Pension Committee submitted comments to the Actuarial Standards Board (ASB) on the third exposure draft of a proposed actuarial standard of practice (ASOP) on modeling. (October 21, 2016)
The Pension Practice Council (PPC) released an issue brief that examines the Pension Benefit Guaranty Corporation’s (PBGC) multiemployer pension program, which could exhaust its assets in less than 10 years and be forced to cut benefits to retirees receiving PBGC support unless changes are made. Read the news release (October 20, 2016)
The Pension Committee released an issue brief that explores risk transfers by defined benefit pension plans from the perspectives of plan sponsors, beneficiaries, and policymakers. Read the news release. (October 11, 2016)
The Intersector Group released the notes of its September 2016 meeting with the Treasury Department and Internal Revenue Service. (October 6, 2016)
The Intersector Group released the notes of its September 2016 meeting with the Pension Benefit Guaranty Corporation. (October 6, 2016)
The Intersector Group provided a meeting notes excerpt regarding Form 5500 clarifications from its September 2016 meeting with the Treasury Department and Internal Revenue Service. (September 19, 2016)
The Pension Committee submitted comments to U.S. Senate Special Committee on Aging Chairman Susan Collins on efforts to encourage open multiple employer plans.
(September 1, 2016)
The Lifetime Income Risk Joint Task Force submitted a comment letter to the Department of Labor concerning proposals for increasing retiree income options, with a focus on additional safe harbors that encourage delivering lifetime income.
(August 19, 2016)
The Multiemployer Subcommittee released a comment letter on the Pension Benefit Guaranty Corporation’s (PBGC) proposed rule on mergers and transfers between multiemployer plans.
(August 5, 2016)
The Pension Committee released a comment letter on the decision by the Internal Revenue Service (IRS) to limit pension actuaries’ ability to interact with IRS actuaries and other experienced employee-benefits personnel. (July 15, 2016)
The Social Security Committee released an issue brief that explores possible design changes to Social Security addressing issues faced by a growing part of the U.S. population who may attain advanced ages and lack adequate resources. (June 30, 2016)
The Social Security Committee released an issue brief on the 2016 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 27, 2016)
The Pension Committee submitted a comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs. (June 22, 2016)
The Pension Committee submitted a comment letter to the IRS and Treasury requesting that the 2017 Applicable Mortality Tables be issued as soon as possible. (June 10, 2016)