Pension News

Academy Releases 2017 Legislative/Regulatory Review

The Academy released a summary of select significant regulatory and legislative developments in 2017 at the state, federal, and international levels of interest to the U.S. actuarial profession.
(January 12, 2018)

Committee Publishes Issue Brief on Tax Policy and Retirement Security

The Retirement System Assessment and Policy Committee published an issue brief providing an actuarial perspective on the role of U.S. tax policy in retirement security. (December 28, 2017)

StateScan Quarterly—Winter 2017

The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members. (December 14, 2017)

Committee Publishes Issue Brief on State-Based Retirement Initiatives and Retirement for the AGES

The Retirement System Assessment and Policy Committee published an issue brief on state-based initiatives to expand retirement coverage among workers who do not have access to employer-sponsored plans, and the alignment of these efforts with the Academy’s Retirement for the AGES principles. (November 29, 2017)

Committee Submits Comments to PBGC on Proposed Modifications to 2017 Form 5500 Schedule MB

The Multiemployer Plans Committee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) on modifications to the instructions for the 2017 Schedule MB (Multiemployer Defined Benefit Plan Actuarial Information) of the Form 5500.
(November 20, 2017)

Academy Releases Essential Elements on Tax Treatment of Pensions and Insurance Protections

The Academy published a new Essential Elements paper, Tax Treatment of Pensions and Insurance Protections, highlighting select tax treatments of pensions and insurance protections, and outlining the potential public policy trade-offs of changes to the tax code. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(November 13, 2017)

Academy Announces Position Statement on Lifetime Income

The Academy announced a position statement in support of policy and educational initiatives to increase retirement income options within employer-sponsored defined contribution (DC) plans. Read the news release.
(October 31, 2017)

Committee Submits Comments to the American Institute of Certified Public Accountants on ASC 960 calculations

The Pension Committee submitted a comment letter to the AICPA Employee Benefit Expert Panel on the current ASC 960 reporting standards for defined benefit pension plans. (October 27, 2017)

Council Submits Letter to Missouri State Employees’ Retirement System Board

The Pension Practice Council sent a comment letter to the Missouri State Employees’ Retirement System Board regarding the newly-adopted Terminated-Vested Member Buyout Program. (October 23, 2017)

Committee Submits Comments to ERISA Advisory Council on Annual Funding Notice

The Pension Committee submitted a comment letter to the ERISA Advisory Council regarding the Annual Funding Notice for Defined Benefit Plans (AFN). (August 16, 2017)

Intersector Group Releases May Meeting Notes With PBGC and Treasury, IRS

The Intersector Group released the notes of its May 2017 meeting with the Pension Benefit Guaranty Corporation, and the notes of its May 2017 meeting with the Treasury Department and Internal Revenue Service. (August 3, 2017)

Issue Brief Provides Perspective on 2017 Social Security Trustees Report

The Social Security Committee released an issue brief on the 2017 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. (July 31, 2017)

PPC Releases Issue Brief on Assessing Health of Pension Plans

The Pension Practice Council (PPC) published an issue brief that explores various methods to measure the financial health of pension plans. (July 13, 2017)

Academy Holds Capitol Hill Briefing on Multiemployer Pension Plans

The Academy hosted a Capitol Hill briefing in connection with the release of its issue brief, Multiemployer Pension Plans: Potential Paths Forward. Pension Practice Council Vice President Bill Hallmark and Vice-Chairperson Josh Shapiro, and Christian Benjaminson, a member of the Multiemployer Plans Subcommittee, gave a presentation on how to address failing multiemployer plans and strengthen the multiemployer pension system. Senior Pension Fellow Ted Goldman moderated. (June 27, 2017)

Retirement Account— Summer 2017

The newest issue of Retirement Account includes items on the Multiemployer Committee’s Capitol Hill briefing on multiemployer pension plans; the Social Security Committee’s issue brief on Social Security and women; and comments to the IRS and Treasury Department on projections of cash balance plan benefits. (June 27, 2017)

Pension Committee Submits Comments to IRS and Treasury on Projection of Cash Balance Benefits

The Pension Committee submitted a comment letter to the IRS and Treasury Department on the projection of benefits under cash balance plans with variable interest credits. (May 12, 2017)

Committee Releases Issue Brief on Women and Social Security

The Social Security Committee produced an issue brief that discusses gender-related factors that can cause differences to the benefits women and men receive from Social Security. Read the news release. (May 12, 2017)

PC Submits Comments to ASB on Setting Assumptions ASOP Draft

The Pension Committee (PC) submitted a comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions. (May 2, 2017)

Council Sends Letter to Congressional Leaders on Pension-Related Offsets

The Pension Practice Council sent a letter to Congressional leaders on pension-related revenue offsets. (April 18, 2017)

Committee Submits Comments to IRS on Proposed Update to Mortality Tables

The Pension Committee submitted a comment letter to the IRS on an update to mortality tables for determining the present value for defined benefit pension plans. (March 30, 2017)