Pension

The Academy’s Securing Social Security Essential Elements provides updated figures and information on the financial outlook of Social Security following the release of the 2021 Social Security Trustees report. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. Read the news release.

The Multiemployer Plans Committee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) regarding its Interim Final Rule on Special Financial Assistance pursuant to the American Rescue Plan Act of 2021.

The Multiemployer Plans Committee submitted comments to U.S. Department of the Treasury and Internal Revenue Service (IRS) relating to implementation of the multiemployer pension plans temporary funding relief provisions of the American Rescue Plan Act of 2021 (ARPA).

The Pension Committee submitted comments to the Department of the Treasury and Internal Revenue Service (IRS) providing suggestions on guidance relating to the implementation of the single-employer pension plan funding relief provisions enacted under the American Rescue Plan Act of 2021 (ARPA).

The Multiemployer Plans Committee published notes from October 9, 2020 Multiemployer Plans Committee meeting with officials of the Departments of the Treasury and Labor and Pension Benefit Guaranty Corporation on applications by plans in critical and declining status to suspend benefits or partition liabilities as permitted under the Multiemployer Pension Reform Act of 2014 (MPRA).

The Intersector Group published notes from its May 2021 conference call with the Treasury Department and Internal Revenue Service.

The Pension Committee submitted comments to the Treasury Department and Internal Revenue Service providing suggestions for modification to the rules relating to the maintenance and application of funding balances.

The Pension Practice Council published an issue brief considering mechanisms in place to help guarantee payment of pension plan participants’ earned benefits.

The Retirement System Assessment and Policy Committee released an issue brief detailing considerations employers might take in determining whether to participate in a PEP or select a provider.

The Academy’s Pension Committee submitted comments to the Actuarial Standards Board regarding the third exposure draft of the proposed Setting Assumptions Actuarial Standard of Practice.

The Social Security Committee released a monograph and an issue brief on individual equity and social adequacy as those principles apply to social security reform options. The monograph and issue brief compare three different Social Security reform proposals using individual equity and social adequacy, two of the important principles underlying the program and provide details on each of the proposals and examines the data used in the illustrations. 

The Intersector Group released its notes of a November 2020 conference call with the Pension Benefit Guaranty Corporation (PBGC).

The Public Plans Committee published an issue brief considering the impact of the COVID-19 pandemic on public pension plans.

The Social Security Committee released an issue brief discussing the effects of immigration on the finances of the Social Security program.

The Social Security Committee published an issue brief on actuarial assumptions used by the Social Security Administration to make projections for and evaluations of Social Security’s financial condition.