Retirement Policy

Long term retirement policy, including the effects of legislation and regulations on retirement benefits, and emerging issues affecting retirement plans.

Pension Practice Council presentation for the Capitol Hill Briefing: Important New Research Findings Indicate a "Rising Tide" of Contributions Facing Defined Benefit Pensions. Presenters from the American Academy of Actuaries and Society of Actuaries discussed new research findings from the actuarial profession that illustrate pension funding challenges facing the private defined benefit system. Presenters also discussed important implications for plan sponsors, beneficiaries, and policymakers. 

Other briefing resources: (October 11, 2011)

Pension Committee's practice note, revised October 2011, Selecting and Documenting Mortality Assumptions for Pensions to reflect changes to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations that went into effect in June 2011. PLEASE NOTE: This practice note was superseded by the 2015 practice note on Selecting and Documenting Mortality Assumptions for Pensions. (October 1, 2011)

Pension Committee comment letter to the Pension Benefit Guaranty Corporation regarding the calculation of unfunded vested benefits for at risk pension plans. (September 22, 2011)

Pension Committee comment letter to the Joint Board for Enrollment of Actuaries regarding final regulations and continuing education requirements for enrolled actuaries. (June 29, 2011)

Pension Committee letter to the Internal Revenue Service with concerns about the implications of the proposed modifications to Circular 230 and registration requirements for PTINs and the application of these rules to various reporting requirements for retirement plan professionals. (June 14, 2011)

Pension Committee letter to the Internal Revenue Service and Department of the Treasury with comments and recommendations for future guidance on merger and spinoff issues related to the measurement of assets and liabilities for pension funding purposes and funding ratios. (June 1, 2011)

Pension Committee comments to the IRS and Treasury regarding the potential implications of expected regulatory guidance on the definition of "plan-related expenses expected to be paid from plan assets" under Internal Revenue Code (IRC) Section 430(b). (May 24, 2011)

Pension Committee comments to the Actuarial Standards Board regarding a proposed revision of ASOP No. 27, "Selection of Economic Assumptions for Measuring Pension Obligations." (May 12, 2011)

Pension Practice Council presentation slides of the April 4 Capitol Hill briefing on Pension Risk and Your Retirement. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy reforms. The video of the briefing is also available. (April 14, 2011)

Pension Committee comments to the Internal Revenue Service regarding proposed regulations for hybrid retirement plans. (January 12, 2011)

Pension Committee letter to the Department of the Treasury and the Internal Revenue Service (IRS) with suggestions for the 2011 schedules SB and MB instructions and forms. (July 7, 2010)

Pension Practice Council's testimony to the Senate Special Committee on Aging for a hearing entitled "The Retirement Challenge: Making Savings Last a Lifetime." (June 11, 2010)

Pension Committee and the Multiemployer Subcommittee comments on multiemployer pension plan provisions of H.R. 4213, the American Workers, State and Business Relief Act of 2010. (May 4, 2010)

Pension Practice Council and Life Practice Council's response to a request for information from the Labor and Treasury departments regarding lifetime-income options for participants and beneficiaries in retirement plans. (May 3, 2010)

Pension Committee comments to the Actuarial Standards Board (ASB) regarding proposed revisions to ASOP No. 41, Actuarial Communications. (March 31, 2010)

Pension Committee comments to the Actuarial Standards Board (ASB) regarding proposed revisions to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations. (March 31, 2010)

Pension Committee comments to the Pension Benefit Guaranty Corporation (PBGC) on proposed regulations concerning reportable events under ERISA Section 4043 and the purchase of irrevocable commitments prior to initiating a standard plan termination under ERISA Section 4041. (January 22, 2010)

Pension Committee comments to the Department of Labor regarding the electronic display of certain information contained in the annual Form 5500 filing for single employer defined benefit plans. (December 9, 2009)

Pension Committee letter to Rep. Earl Pomeroy regarding H.R. 2748, Retirement Security Needs Lifetime Pay Act of 2009. (November 18, 2009)

Pension Practice Council response to the Governmental Accounting Standards Board (GASB)'s invitation to comment on pension accounting and financial reporting. (August 3, 2009)