Skip to main content

You are here


ASEA Monthly

Editor’s Note: The following presents a discussion between Karen Smith and Larry Deutsch about using different crediting rates for different groups of participants in a cash balance plan.Karen: Hi Larry. I need your help. I am working on drafting a plan document for a brand new cash balance plan... READ MORE
This decade is a big one for 50th anniversaries and celebrations. In 2015, the Grateful Dead celebrated their 50th anniversary with concerts in California and Chicago. In 2017, my high school classmates will celebrate their 50th birthdays (Go Ward Melville Patriots!). But 2016’s biggest 50th... READ MORE
On behalf of the ACOPA Leadership Council, here's our monthly update for members on some of ACOPA's activities. Joint Discipline Council Agreement – In early January 2016, there was a membership vote to approve proposed changes to ACOPA’s operating principles and the amended Joint Discipline... READ MORE
Hi there and Happy New Year. I woke up this morning hoping I’d won the $1.5 billion Powerball, but unfortunately I hadn’t — apparently three other people will instead share my winnings. But then I realized that the way I live compared to most people in the world is already like winning the lottery... READ MORE
It seems that at many of the ethics roundtable discussions at ASPPA and ACOPA conferences, the question of abandoning a client shortly before a due date (such as 10/14) comes up. Most people regard this as both (a) undesirable and (b) a possible violation of the ethics codes. I wanted to... READ MORE
As previously indicated in Part 1 of this article, the suspension of benefits process can be very complicated. A phrase we often hear, “It depends on the specific set of facts and circumstances,” is very much applicable in applying the suspension of benefits rules. A variety of situations can arise... READ MORE
As we ring in the new year, we also enter that time of year when we focus on providing actuarial services to clients with calendar plan/fiscal years. In preparing for these calendar year clients, the actuary needs to be aware of the revised principles that are now imposed by the Actuarial Standard... READ MORE
The Internal Revenue Service (IRS) has announced the end of the determination letter program as we know it. Beginning Jan. 1, 2017, the IRS will no longer accept determination letter applications based on the 5-year remedial amendment cycle (see IRS Announcement 2015-19). Plan sponsors with EINs... READ MORE
Another year in the rear view mirror. My mother always told me that time goes by more quickly as you get older, and she was definitely right about that. Before looking ahead, I’d like to thank the dozens of ACOPA members who made last year a very productive one for us. We are all very busy people,... READ MORE
In December 2015, Judy Miller, Kurt Piper, Lynn Young and I went to Scottsdale, Ariz. to attend several actuarial inter-societal meetings.First, there was a meeting of the Council of U.S. Presidents (CUSP) meeting. CUSP used to be a committee of the American Academy of Actuaries and is currently an... READ MORE
Wow, here we are again with year end just two weeks away and knee deep in new plan proposals and set ups! Like every other year, 2015 just blew by in a blur of work. I feel like my life has gone by like the calendar pages flashing past one by one in those old movies. I’m sure we are all looking... READ MORE
What is “Suspension of Benefits”? The purpose of this post is to provide an overview of the rules as they apply to the suspension of benefits and to the adjustment of benefits not received during the suspension period as it relates to defined benefit plans. (To read Part 2, click here.) It is not... READ MORE
The week of Jan. 18, 2016, ACOPA members will have the opportunity to vote to approve the proposed amended Joint Discipline Council Agreement (“JDC Agreement”). You will be receiving (or may have received already) an email with our formal communication of the materials. Voting instructions will be... READ MORE
One of ACOPA’s responsibilities is to present the views of our membership to regulators and other relevant bodies. Last month I wrote about legislative proposals, and the success we (ASPPA/ACOPA, and now ARA) have had getting Congress to take our proposals seriously. Of course, getting our... READ MORE
One of ACOPA’s responsibilities is to present the views of our membership to regulators and other relevant bodies. Last month I wrote about legislative proposals, and the success we (ASPPA/ACOPA, and now ARA) have had getting Congress to take our proposals seriously. Of course, getting our... READ MORE
In September 2015, more than seven years after issuing proposed rules, the IRS issued final rules under IRC §430. This article will describe the changes and additions made by the final rules. Note: This is Part 2 of a two-part article. Part 1 appeared in the November ACOPA Monthly.  Timing and... READ MORE
Wow, the days sure roll by fast from one content submission deadline to another! Here we are in mid-November, with year end soon upon us. I never realized when I accepted the Executive Editor position that essentially I’d be the pension equivalent of a streetcorner beggar, holding a cardboard sign... READ MORE
Assume you are the enrolled actuary for a traditional calendar year defined benefit plan sponsored by a small employer. The owner of the business generates about 90% of the firm’s revenue and his benefit from the plan represents about 95% of the total benefit liabilities for the plan. The employer... READ MORE
I am tempted to rail against PBGC premium increases (again) today, but unfortunately it does no good. When deals are cut without policy people in the room, all the educational effort in the world is not going to trump the revenue — even if it is phantom as far as availability for spending is... READ MORE
We wanted to provide an update on a couple of ACOPA projects.First, we are working on a comment letter to the Actuarial Standards Board on the proposed revisions to ASOP 21, Responding to or Assisting Auditors or Examiners in Connection with Financial Audits, Financial Reviews, and Financial... READ MORE