The Retirement System Assessment and Policy Committee submitted a comment letter to Congress on the Retirement Enhancement and Savings Act of 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.( )
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.
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.( )
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.( )
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.( )
The Lifetime Income Risk Joint Task Force submitted a comment letter to Congress on the Lifetime Income Disclosure Act.( )
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.( )
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.( )
The Social Security Committee released an issue brief that examines automatic adjustment options to address Social Security's financial challenges.( )
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.( )
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.( )
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.
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.( )
The Pension Committee released an issue brief that analyzes the Pension Protection Act of 2006 (PPA) against the principles underlying funding reform.( )
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.( )