The Pension Practice Council submitted comments to the Department of Defense regarding the use of personal discount rates to calculate lump-sum payments from military pensions as required in the National Defense Authorization Act for Fiscal Year 2016.( )
The Pension Accounting Committee submitted comments to the Financial Accounting Standards Board on its exposure draft on changes to the disclosure requirements for defined benefit plans.
The Pension Committee released the exposure draft, Selecting Investment Return Assumptions Based on Anticipated Future Experience. The comment deadline for this exposure draft is June 27, 2016.( )
Academy Senior Pension Fellow Ted Goldman spoke on retirement issues at a National Retirement Planning Week panel discussion on Capitol Hill.( )
Senior Pension Fellow Ted Goldman submitted comments to the Senate Finance Committee on its hearing, “The Multiemployer Pension Plan System: Recent Reforms and Current Challenges.”
The Public Plans Subcommittee submitted comments to the Governmental Accounting Standards Board on the exposure draft on Pension Issues—an amendment of GASB Statements No. 67, No. 68 and No. 73.
The Pension Committee released the Variable Annuity Plans Practice Note exposure draft for measuring obligations of defined benefit pension plans that include variable annuity benefits.( )
The Intersector Group released the notes of its September 2015 meeting with the Treasury Department and Internal Revenue Service.
The Intersector Group released the notes of its September 2015 meeting with the Pension Benefit Guaranty Corporation.
The Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here.
Pension Practice Council submitted comments to the Treasury Department and Internal Revenue Service regarding final regulations concerning Qualified Longevity Annuity Contracts (QLACs) and their advantages.( )
The Academy released a new interactive Social Security Game that allows users to explore various options and their consequences to make Social Security sustainable for generations to come. The game, which is compatible with smart phones and tablets, debunks various myths about Social Security and illustrates the options of reducing benefits or increasing revenues necessary to make the program sustainable for the next 75 years.( )
The Academy held a forum on issues surrounding aging securely at the U.S. Capitol that explored long-term care, lifetime income, and the sustainability of public programs like Medicare and Social Security.( )
The Lifetime Income Risk Joint Task Force released three issue briefs in the Risky Business series: one explores financial literacy and education for prospective retirees, and refocused plan design and federal retirement policies; another provides actuarial insights regarding lifetime income planning; and a third examines risk sharing by retirees. The task force also released an issue brief that explains general retirement planning considerations, and another designed to provide a high-level perspective on key aspects related to lifetime income.( )
Pension Committee sent comments to the Pension Benefit Guaranty Corporation (PBGC) regarding the proposed changes to the §4010 reporting requirements.( )
In the Fall 2015 edition of Retirement Account, read about the issue brief on cost recognition by the Pension Accounting Committee and Pension Committee; the ASB public hearing on public pension policy; the Social Security Committee’s issue brief on the Disability Insurance Trust Fund; news and announcements on upcoming Academy pension events, and more.( )
Social Security Committee released an issue brief on the Disability Insurance Trust Fund shortfall and ways to improve its long-term financial viability.
Multiemployer Subcommittee sent comments to the IRS and Treasury on proposed regulations on suspensions of benefits under the Multiemployer Pension Reform Act of 2014.
The Pension Accounting Committee and Pension Committee released an issue brief on alternative expense methodologies and their theoretical rationales and implications.