Pension Practice Council highlights

The Pension Practice Council:

• Hosted a Capitol Hill briefing on the effect of the financial crisis on retirement projections in the U.S. The briefing, a joint effort with the Society of Actuaries, also discussed new ways of looking at retirement and U.S. retirement policy.
  
• Published two new practice notes on selecting assumptions, one addressing mortality assumptions and the other addressing other assumptions, such as economic and demographic assumptions.
  
• Published a new practice note on preparing a certification of the adjusted funding target attainment percentage (AFTAP) for pension plans.
  
• Published an issue brief on understanding the assumptions used to evaluate Social Security’s financial condition. The council also published its annual issue brief in response to the Social Security trustees’ report.
  
• Sent a letter to the Government Accounting Standards Board (GASB) in response to an invitation to comment on questions targeting pension accounting and financial reporting. The response addressed multiple perspectives of GASB’s questions.
  
• Provided comments to the IRS regarding the use of surplus assets for matching contributions under 401(k) replacement plans.
  
• Commented to the Federal Accounting Standards Advisory Board in response to its exposure draft revisions on accounting for social insurance.
  

Pension Practice Council resources

See recent Academy publications, analyses, and comments on public policy pension issues.

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