The consulting firms of Mercer and Milliman both recently released their monthly pension funding updates, which reached similar conclusions that pension funding rates for the largest corporate plan sponsors dropped significantly during the month of April. … More

The Internal Revenue Service (IRS) on May 7 released Notice 2013-32 providing guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under section 430(h)(2) of the Internal Revenue Code.… More

The Joint Committee on Taxation released its 568-page report on “Present Law and Suggestions for Reform Submitted to the Tax Reform Working Groups” on May 6th. In February 2013, the Ways and Means Committee created 11 Working Groups – each assigned a designated area of the tax code – in order to review current tax law and ideas for tax reform.… More

ERIC will be hosting a FocusOn call on “PBGC’s Use of Credit-Worthiness to Evaluate Pension Plans” on Thursday, May 9, from 2:00 PM to 3:00 PM (EDT). … More

The Pension Benefit Guaranty Corporation on April 19 withdrew two opinion letters (Opinion Letters 77–172 and 85–19) that addressed whether defined benefit plans established and maintained in Puerto Rico and Guam are covered by Title IV of Employee Retirement Income Security Act. … More

The ERISA Advisory Council recently released the final report and recommendations made on its examination of current challenges and best practices concerning beneficiary designations in retirement and life insurance plans. … More

Today, ERIC filed its statement on the “Importance of Retirement Tax Benefits” with the Pensions/Retirement Tax Reform Working… More

In a letter submitted today to the House Ways and Means Committee’s Tax Reform Working Group on Pensions and Retirement, The ERISA Industry Committee (ERIC) urged the policymakers to proceed with caution when considering any possible changes to the nation’s very successful voluntary employer-provided retirement system.… More

Statement by ERIC President & CEO Scott Macey on President Obama’s fiscal year 2014 budget proposal to impose a $3 million cap on accumulated retirement savings and further increase PBGC premiums… More

Today, the White House officially released the Fiscal Year 2014 Budget. The budget contains a number of very troublesome provisions related to retirement policy including prohibiting individuals from accumulating more than $3.4 million within the tax-favored retirement system … More

The Pension Benefit Guaranty Corporation (PBGC) just issued a proposed regulation that would change the reporting rules for defined benefit plans. The new proposal focuses on companies and plans that are at substantial risk of default. … More

ERIC attended the Senate Health, Education, Labor and Pensions (“HELP”) Committee’s hearing on March 19 which looked at ways to “keep savings in the retirement system.” … More

The Commodity Futures Trading Commission (CFTC) on March 15 issued an Advisory reminding all swap counterparties -- including some pension funds -- of the April 10, 2013, deadline for each counterparty to obtain a legal entity identifier (LEI), currently known as a CFTC Interim Compliant Identifier or “CICI”. … More

The Pension Benefit Guaranty Corporation on March 11 posted on its website updated e-4010 instructions to reflect the PBGC’s guidance on the effect of the Moving Ahead for Progress in the 21st Century Act (MAP-21) on 4010 reporting.… More

The Internal Revenue Service recently announced a new telephone number to check the status of submissions to its Voluntary Correction Program (“VCP”).… More

The U.S. Department of Labor’s Employee Benefits Security Administration (“EBSA”) on March 8 released Field Assistance Bulletin (“FAB”) 2013-01 regarding the new disclosure requirements under Moving Ahead for Progress in the 21st Century Act (“MAP-21”).… More

The Pension Benefit Guaranty Corporation on February 23 released its annual pension insurance data tables, which provide overviews of statistical trends in private defined benefit pensions.… More

The International Accounting Standards Board on February 21 tentatively agreed to a staff recommendation to clarify the accounting treatment for employee contributions to defined benefit plans.… More

The Internal Revenue Service on February 8 released Revenue Ruling 2013-02, providing the covered compensation tables for use in calculating… More

The Treasury Department and Internal Revenue Service on February 11 released Notice 2013-11, which provides 25-year average segment rates… More

Yesterday, the Labor Department’s Employee Benefits Security Administration released an advisory opinion on the fiduciary status of… More

The Senate Health, Education, Labor and Pensions Committee on January 31 held its first retirement-based hearing of the new Congress,… More

The Pension Benefit Guaranty Corporation on January 29 released three reports that examine and provide information on the financial health… More

The Pension Benefit Guaranty Corporation (PBGC) on January 30 released Technical Update 13-1, providing guidance for plan years beginning… More

The Department of Labor’s Employee Benefits Security Administration on January 29 published in the Federal Register a Notice describing changes to the Department’s Delinquent Filer Voluntary Compliance Program (DFVC Program).… More