Pension News

The Academy is hosting a jointly sponsored Capitol Hill briefing with the Society of Actuaries on Oct. 11 to present new research findings from the actuarial profession that illustrates a “rising tide” of funding challenges facing the private defined benefit system. Presenters will discuss important implications for plan sponsors, beneficiaries, and policymakers. Learn more. (September 30, 2011)
The Academy's Social Security Committee urged President Obama and congressional leaders to improve the long-term solvency and sustainability of Social Security whether in a broader deficit-reduction package or through an alternative legislative track. (September 23, 2011)
The Academy's Pension Committee submitted a comment letter to the Pension Benefit Guaranty Corporation regarding the calculation of unfunded vested benefits for at risk pension plans. (September 22, 2011)
Academy Public Interest Committee Chairperson Tom Terry sent a letter to House Ways and Means Social Security Subcommittee Chairman Sam Johnson and Ranking Member Xavier Becerra in response to follow-up questions from Terry's July 8 testimony on the Social Security retirement age. The letter addressed ways in which policymakers can boost incentives for older workers to work longer. (August 31, 2011)
The Academy's Social Security Committee released an updated issue brief on automatic adjustment mechanisms that could help address actuarial balance challenges facing Social Security. (August 4, 2011)
The Academy's Public Interest Committee Chairperson Tom Terry testified today to the U.S. House Committee on Ways and Means Subcommittee on Social Security. Terry told the subcommittee that actuaries believe it necessary for policymakers to act promptly in considering options for putting Social Security on a path toward sustainable solvency. He said that when exploring the options and considering continued life expectancy improvements at age 65, increasing Social Security's retirement age stands out as one of the most obvious choices. (July 8, 2011)
The Academy's Pension Committee submitted a comment letter to the Joint Board for Enrollment of Actuaries regarding final regulations and continuing education requirements for enrolled actuaries. (June 29, 2011)
The Academy's Pension Practice Council and Public Plans Subcommittee submitted a comment letter to the U.S. Securities and Exchange Commission requesting that public pension plans be excluded from the definition of "investment strategies" and that enrolled actuaries and members of the five U.S.-based actuarial organizations be excluded from the definition of "municipal advisors" to the extent they are providing actuarial services that are governed by the Actuarial Standards of Practice and the Code of Professional Conduct. (June 22, 2011)
The Academy's Pension Committee submitted a letter to the Internal Revenue Service with concerns about the implications of the proposed modifications to Circular 230 and registration requirements for PTINs and the application of these rules to various reporting requirements for retirement plan professionals. (June 14, 2011)
The Academy's Pension Committee submitted a letter to the Internal Revenue Service and Department of the Treasury with comments and recommendations for future guidance on merger and spinoff issues related to the measurement of assets and liabilities for pension funding purposes and funding ratios. (June 1, 2011)
The Academy's Social Insurance Committee released a new issue brief that highlights the 2011 Social Security Trustees Report and outlines the public policy options to address Social Security's long-term financial soundness. (May 26, 2011)
Presentation slides are now available for the Pension Practice Council’s May 26 Capitol Hill briefing: An Actuarial Perspective on the 2011 Social Security Trustees Report. Presenters from the Academy's Social Insurance Committee shared insights on the 2011 Social Security Trustees Report and presented reform options that, if enacted now, could help address Social Security's long-term financial soundness. (May 26, 2011)
The Academy's Pension Committee comments to the IRS and Treasury regarding the potential implications of expected regulatory guidance on the definition of "plan-related expenses expected to be paid from plan assets" under Internal Revenue Code (IRC) Section 430(b).  (May 24, 2011)
The Pension Committee submitted comments to the Actuarial Standards Board regarding a proposed revision of ASOP No. 27, Selection of Economic Assumptions for Measuring Pension Obligations. (May 12, 2011)
The presentation and video are available for the Academy Pension Practice Council's April 4 Capitol Hill briefing on Pension Risk and Your Retirement. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy reforms. View videos of the briefing. Download the presentation. (April 14, 2011)
Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Treasury Department and Internal Revenue Service. ()