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ACOPA Monthly

I hope to see as many ACOPA members as possible at the Actuarial Symposium in Chicago on August 9 and 10. Chicago is a great location for an event in summer time – any free time can be spent outside! For the past several years, attendance has been increasing and we are hoping to improve over last... READ MORE
In a big win for ACOPA and the lobbying efforts of its members, the Pension Benefit Guaranty Corporation (PBGC) is expected to finalize a proposal that would allow employers to request coverage determinations prior to establishment of a plan, as part of a new formal process where the PBGC would... READ MORE
Where are you from/where do you live now? Dallas/Georgia.   What was your first job in the field? Coopers & Lybrand in Chicago.   Favorite actuarial moment? Receiving my FSPA.   Volunteer activities through the years? Writing up information for 401(a)(26).   Any advice you’d give... READ MORE
Join us at the 2019 ACOPA Actuarial Symposium, Aug. 9-10. Chicago is an easy destination for most, and offers beautiful weather in August. Earn continuing education, most of which is specifically related to your practice. Topics include: A close look at IRC 404 and 430 IRC 436 tips and traps... READ MORE
Hello ACOPA– Somehow, paying out terminated vested benefits has become my main (and bane of my) existence recently. From preparation of an increasing number of ben apps from a larger pool of clients and participants, to keeping track of who received 30-day notices before forcing out, to the... READ MORE
Recently, many of our colleagues have received inquiries about “401(h) plans.” A 401(h) is not a type of plan but rather an ancillary benefit of a defined benefit plan. A 401(h) account provides a highly efficient way to fund retiree health benefits. Contributions to the account are tax-deductible... READ MORE
This column is to update ACOPA members on the view of progress from the President of ACOPA. Much ACOPA leadership time in recent months has been spent on responding to September 2018 actions of the American Academy of Actuaries. To briefly review, the Academy voted to remove ACOPA and the... READ MORE
In 2013, I responded to an ad on our beloved ACOPA discussion board to volunteer for the EA2-L Exam Writer’s committee. For those who don’t know, EA2-L is what I like to call the “everything but the funding law” exam. It is an incredible way to remain sharp on topics that you might see day-to-day... READ MORE
Hello ACOPA – It has been a tiring first three months of 2019, work-wise. January Madness did not stop with March as we dealt with March 15 deadlines. The April 15 deadline is fast approaching with a new burst of stress. Summer can’t arrive soon enough as it brings on vacation time, summer... READ MORE
Dearest ACOPA Members (and you are the dearest!) – January 2018 set a record for most data requests sent in by my clients. But sure enough, January 2019 broke that record. Just keeping track of what has come in is a job itself, and enough to make my head spin. Presumably I am that much closer to... READ MORE
If you’re like me, your ASC 715 valuations around 2013 and earlier often used for the mortality assumption what I’ll call the “IRS funding tables” – specifically, the separate or combined static annuitant/nonannuitant tables in effect for a given year published in IRS Notices. (And, if you’re like... READ MORE
The American Retirement Association’s governmental affairs staff and volunteer Legislative Relations Committee (LRC) both review legislative proposals and proactively propose legislative changes to improve the employer-provided retirement system. Over a period of years, many of ARA’s proposals have... READ MORE
Happy New Year to one and all! May the New Year bring you success in all your endeavors. Almost 3 months into the ACOPA year, most of the ACOPA time of Leadership continues to be spent on determining how to respond the recent Academy decision to exclude ACOPA (and CCA) from the Selection Committee... READ MORE
Members of the American Academy of Actuaries (AAA) have filed a class action lawsuit against the AAA’s board alleging violations of the organization’s bylaws. The complaint (2018-CH-15777) was filed on Dec. 20, 2018 in Cook County Circuit Court in Illinois. It alleges that the defendants, who are... READ MORE
Hello ACOPA — The weather in New York has mostly been moderate, with December golf a real possibility. While I sometimes get the winter blahs, working on PPA restatements has lifted my spirits (or at least kept me busy) these last few weeks. And with the new clients coming on board as they do at... READ MORE
I am just returning from the ARA Board meeting in Key West. We had 9 inches of snow on the day that I left home. The trip was a great early winter get away! During the meeting, each sister organization provided an update. Most of the ACOPA update related to Academy actions and subsequent vote. My... READ MORE
Twice a year, the North American Actuarial Council (NAAC) meets in person to exchange information on current activities within each organization and discuss profession-wide issues. It also encourages coordination and cooperation among the North American actuarial organizations, including: American... READ MORE
The American Retirement Association’s staff and volunteer Legislative Retirement Committee (LRC) both review legislative proposals and proactively propose legislative changes to improve the employer-provided retirement system. Over a period of years, many of ARA’s proposals have appeared in... READ MORE
  The IRS released Notice 2018-74 to modify and update the safe harbor explanations that may be used to satisfy the notice requirements of Code Section 402(f). This article describes the key provisions of the notice. Background  Section 402(f) requires the plan administrator of a qualified of a... READ MORE
FASB has announced changes to the disclosure requirements for pension and other (OPEB) plans. Several items were removed; several were added. These changes are generally effective for 2021 (2022 for nonpublic entities), although earlier adoption is permitted. There are no changes in the methodology... READ MORE