The Social Security Committee released an issue brief that explores possible design changes to Social Security addressing issues faced by a growing part of the U.S. population who may attain advanced ages and lack adequate resources.( )
The Social Security Committee released an issue brief on the 2016 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 Pension Committee submitted a comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs.( )
The Pension Committee submitted a comment letter to the IRS and Treasury requesting that the 2017 Applicable Mortality Tables be issued as soon as possible.( )
The Intersector Group released the notes of its March 2016 meeting with the Pension Benefit Guaranty Corporation.( )
The Intersector Group released the notes of its March 2016 meeting with the Treasury Department and Internal Revenue Service( )
The Pension Committee submitted comments to the Internal Revenue Service regarding the proposed regulations for nondiscrimination relief for closed defined benefit plans.
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 Pension Benefit Guaranty Corporation.
The Intersector Group released the notes of its September 2015 meeting with the Treasury Department and Internal Revenue Service.
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.( )