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On the heels of the recent IRS guidance on pension-linked emergency savings accounts (PLESAs), the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) followed suit on Jan. 17, issuing additional guidance in the form of FAQs.
Included in Section 127 of the SECURE 2.0 Act...
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The Department of Labor (DOL) announced Jan. 18 that its Employee Benefits Security Administration (EBSA) released a proposed regulation on automatic portability transactions under SECURE 2.0.
The DOL said automatic portability transactions aim to help workers keep track of their retirement...
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Take a helping of government activity. Add a teaspoon each of plan design, controlled groups, and annuities, and also add a dash of EPCRS and a sprinkling of ethics. Voila! The recipe for the ASEA Actuarial Insights conference.
The conference will be held on Jan. 24-25.
Wednesday, Jan. 24
On...
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More than 900,000 participants of terminated plans were receiving benefits from the Pension Benefit Guaranty Corporation (PBGC) by the end of fiscal year (FY) 2023, says the agency in its FY 2023 annual report.
The Fiscal Year 2023 Annual Report of the Pension Benefit Guaranty Corporation (PBGC)—...
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Editor's Note: Talk about viral! Avi Wisotsky, ACAS, was generous enough to let us publish the following. This post on social media had a ton of engagement and lots of feedback. We've love to hear what you think.
Many people say actuaries price insurance or calculate how long people will live....
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Almost 20 years ago, the IRS issued proposed regulations for handling Internal Revenue Code Section 415(b) limits when multiple annuity starting dates (MASDs) are involved. While the approach given was simple—basically a straight actuarial adjustment to benefits paid, it led to some absurd results...
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Often there can be confusion in more ways than one when trying to understand why actuaries report liabilities for defined benefit plans.
The reason actuaries report plan liabilities in different manners has to do with the interplay between interest rates, the economy, and the reporting purpose....
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Rhode Island is on the road to possibly becoming a member of the Secure Choice Club. A bill has been introduced in the state’s House of Representatives that would establish a state-run retirement program that would cover those whose employers do not offer one.
Rep. Evan P. Shanley (D-East...
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Plan professionals may find it useful to know that plan sponsors continue to make participants’ retirement security a priority, and are boosting their work to enhance it.
JP Morgan, in its fifth Defined Contribution Plan Sponsor Survey, which provides the results of an online survey of 788...
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It’s a big year for the implementation of certain SECURE 2.0 provisions. While many of the items are optional, it represents an excellent opportunity to explain what they mean and their potential impact.
“There are two that are the big standouts,” Kevin Gaston said when asked about the provisions...
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