Headlines about "Actuarial - misc"

Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] IRS Employee Plans News, March 19, 2014 (PDF)
Topics include: [1] Cycle C determination letter applicants who intend to adopt a pre-approved cash balance plan may withdraw their applications by May 31, 2014, if they sign Form 8905, Certification of Intent to Adopt a Pre-approved Plan, by March 31, 2014; [2] FAQs on withdrawing Cycle C applications; and [3] Unreasonable assumptions in actuarial certifications of post-retirement medical benefit reserves may have consequences. (Internal Revenue Service [IRS])

[Guidance Overview] Enrolled Actuary Program Examination Booklet for May 2014 Exams (PDF)
Updated February 2014; 32 pages. Excerpt: "The actuarial knowledge requirement for enrollment is augmented by a requirement that a candidate have certain responsible pension actuarial experience. Through a combined knowledge and experience requirement, the Joint Board seeks to determine which applicants for the designation of Enrolled Actuary have the skills necessary to protect the interests of pension plan participant... Not all topics listed in the syllabus of this examination program are necessarily covered on any particular year's examination, nor are the examination questions necessarily confined solely to the listed topics or suggested readings." (Joint Board for the Enrollment of Actuaries [JBEA], American Society of Pension Professionals and Actuaries [ASPPA] and Society of Actuaries)

[Official Guidance] Text of Proposed PBGC Regs Relaxing Reporting of Mergers by Multiemployer Plans, Reducing Valuation Frequency for Certain Smaller Multiemployer Plans
"PBGC is proposing to amend its multiemployer regulations to make the provision of information to PBGC and plan participants more efficient and effective and to reduce burden on plans and sponsors. The amendments would reduce the number of actuarial valuations required for certain small terminated but not insolvent plans, shorten the advance notice filing requirements for mergers in situations that do not involve a compliance determination, and remove certain insolvency notice and update requirements. The amendments are a result of PBGC's regulatory review[.]" (Pension Benefit Guaranty Corporation)

Who Pays for Public Employee Health Costs?
"[W]e find that roughly 15 percent of the cost of recent benefit growth was passed onto school district employees through reductions in wages and salaries. Strong teachers' unions were associated with relatively strong linkages between benefit growth and growth in total compensation. We further find that when economic conditions are poor, straining public budgets, benefit growth is more readily shifted back to public employees. Our analysis is consistent with the view that the costs of public workers' benefits are difficult to monitor, contributing to benefit oriented, and often under-funded, compensation schemes." (National Bureau of Economic Research [NBER])

[Official Guidance] Text of IRS Notice 2013-66: Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates, October 2013 (PDF)
"This notice provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under [Internal Revenue Code section] 430(h)(2) ... [and] provides guidance as to ... the 30-year Treasury weighted average rate under section 431(c)(6)(E)(ii)(I), and the minimum present value segment rates under section 417(e)(3)(D) ... These rates reflect certain changes implemented by [MAP-21]." (Internal Revenue Service)

[Guidance Overview] Supreme Court Rules Part of DOMA Unconstitutional; Employer Action Steps Suggested
"[T]here are at least five steps that any affected employer should now be considering: [1] Stop imputing income for federal income and FICA tax purposes on health plan coverage provided for a same-sex spouse, but continue imputing income for state income tax purposes if the employee resides in a non-recognizing state; [2] Communicate the Supreme Court's decision to employees, and request that any employees in same-sex marriages that may not be known to the employer identify themselves; [3] Offer a mid-2013 enrollment right under welfare plans for same-sex spouses not previously eligible; [4] Identify all employee plan provisions that may be affected by a changed definition of the term 'spouse'; [and] [5] Identify all past and present employees who are in a same-sex marriage." (The Wagner Law Group)

Text of Enrolled Actuaries Basic Examination, EA-1 (PDF)
Text of questions and answers from the May 2013 exam. (American Society of Pension Professionals & Actuaries; Joint Board for the Enrollment of Actuaries; Society of Actuaries)

Text of Enrolled Actuaries Pension Examination EA-2, Segment L (PDF)
Text of questions and answers from the May 2013 exam. (American Society of Pension Professionals & Actuaries; Joint Board for the Enrollment of Actuaries; Society of Actuaries)

[Guidance Overview] PBGC Proposes Significant Changes to 'Reportable Event' Regulation (PDF)
"The proposed rule retains a modified version of the small plan waiver for active participant reductions and makes it applicable to more events.... The small plan waiver would be extended to controlled group changes, benefit liability transfers, and extraordinary dividends." (Groom Law Group)

PBGC to Pay Retirement Benefits for Hawker Beechcraft
"[PBGC] will assume benefit payments for more than 9,500 workers and retirees from two of Hawker Beechcraft, Inc.'s pension plans. The settlement also includes $2.5 million to those salaried retirees whose benefits exceed those paid by PBGC under rules set by Congress.... [T]he bankruptcy court approved a settlement between Hawker Beechcraft and PBGC in which two plans covering salaried employees would be assumed by the agency. The third plan, with 8,300 participants, will be frozen and remain with the company." (Pension Benefit Guaranty Corporation)

[Official Guidance] PBGC Web Site Now Accepting E-Filing of 2013 Premiums
"What's New in My PAA (01/2013) ... Premium filings for plan year 2013 may be prepared and submitted via My PAA.... For plan years beginning in 2013, the per-participant flat-rate premium is $42.00 for single-employer plans and $12.00 for multiemployer plans.... The 2013 premium filings include new and changed data elements, e.g., additional plan contact information and a new cap on the variable-rate premium. The 2013 Premium Payment Instructions include a summary of What's New ... and the updated illustrative forms[.]" (Pension Benefit Guaranty Corporation)

[Official Guidance] PBGC Issues 2013 Premium Payment Instructions and Addresses
The premium payment instructions, including illustrative forms, for the estimated flat-rate filings and comprehensive filings for plan year 2013 have been posted by the PBGC on the linked web page. The "My Plan Administration Account (My PAA)" page on the PBGC's web site is expected to be revised and ready to handle 2013 premium e-filings by early January 2013. (Pension Benefit Guaranty Corporation)

[Opinion] The Practical Reasons To Not Set Up State-Run Health Insurance Exchanges
"Much to the surprise of the administration 32 states have declined to participate. The reasons for a majority of states to refuse to participate has less to do with opposition to Obamacare than practical politics.... . At this point any governor signing up to run a [health insurance exchange] is signing himself and his administration up for an unmitigated headache as the rules are nebulous, the costs open ended, and the potential to torque constituents when they confront Department of Motor Vehicle style customer service when trying to buy health insurance. Eventually the governor and the legislature will have to answer to the voters for that headache." (RedState)

Rule 23(b)(2) Certification -- Seventh Circuit Strikes Again, This Time in the ERISA Defined Benefit Context
"In Johnson v. Meriter Health Services Employee Retirement Plan ... the Seventh Circuit affirmed the certification of an ERISA class action under Fed. R. Civ. P. 23(b)(2).... [T]he district court certified a class of more than 4,000 participants, consisting of current and former participants in the Meriter Health Services defined benefit cash balance pension plan, who claimed they were not credited with the benefits to which they were entitled over the course of a 23-year period. The class members raised varying claims depending upon their employment status and the nature and form of the benefits they received, or expected to receive, including interest credit 'whipsaw,' 'cut-back' and 'wear-away' claims.... [The case] evidences the Seventh Circuit's willingness to certify a class under Rule 23(b)(2) despite the possibility of individualized damage issues." (Seyfarth Shaw LLP)

Real-World Solutions for Your Health, Benefits & Wellness Programs
Hear what's working for senior executives at major employers including: American Express, Big Lots, Carlson, Chipotle Mexican Grill, Comcast, H-E-B, Intel, Leviton, Microsoft, NextEra Energy, Walgreens and Yahoo! Limited-time registration offer going on now. (Health & Benefits Leadership Conference)

Obtain Your Ethics CE Credit!
Understand the ethical issues facing employee benefit practitioners! Join ERISA attorney, John Griffin, Dec 6th. Click on the link to register. (ASC)

DATAIR! New Features - Flexible Pricing - Module Integration
Proposals, Testing, Administration, 5500s, 1099Rs, Plan Documents -- 401(k), New Comparability, 403(b), Non-qualified Plans -- (888) 328-2474 Sales@DATAIR.com www.DATAIR.com (DATAIR Employee Benefit Systems, Inc.)

Are you frustrated with 8955-SSA or 1099 filings this year?
Ask ftwilliam.com about our fulfillment services. You do the preparation and then we will take care of the rest on your behalf. We will do all of the electronic filing and any printing and mailing necessary. Contact us for details: sales@ftwilliam.com (ftwilliam.com)

Industry Education Begins with RPF
Earn Your RPF Certificate and start your journey to a credential. RPF webcourses, texts and exams cover terminology, issues, and requirements for anyone starting the credential process or building a career. Start your journey today. (American Society of Pension Professionals & Actuaries (ASPPA))

Advisors & TPAs: Don't Miss the NAPA/ASPPA 401(k) SUMMIT 2013!
Join us in exciting Las Vegas at Caesar's Palace and get the latest government and regulatory updates that affect you and find out why 1,300+ retirement plan professionals return every year. (American Society of Pension Professionals & Actuaries (ASPPA))

Are you frustrated with 8955-SSA or 1099 filings this year?
Ask ftwilliam.com about our fulfillment services. You do the preparation and then we will take care of the rest on your behalf. We will do all of the electronic filing and any printing and mailing necessary. Contact us for details sales@ftwilliam.com (ftwilliam.com)

Advisors & TPAs: Don't Miss the NAPA/ASPPA 401(k) SUMMIT 2013!
Join us in exciting Las Vegas at Caesar's Palace and get the latest government and regulatory updates that affect you and find out why 1,300+ retirement plan professionals return every year. (American Society of Pension Professionals & Actuaries (ASPPA))

Fast, Integrated, Affordable Form 1099 Software
Wolters Kluwer Law & Business -- ftwilliam.com offers web-based 1099 Software that will help simplify the 1099 preparation process. Need help with all that printing, mailing and e-filing? Ask about our Service Bureau. We'll take care of that for you. (ftwilliam.com)

The latest on employee benefit issues + Top IRS & DOL Speakers
Explore employee benefit issues with colleagues and local, regional and national government representatives from the Internal Revenue Service and the Department of Labor! (American Society of Pension Professionals & Actuaries (ASPPA))

DATAIR! Better Than Ever - Flexible Pricing - Superior Validation
Choose "Pension Reporter System" modules you need: EFAST2 5500/PBGC/SAR, 1099Rs, 5300s, FAS158 -- (888) 328-2474 Sales@DATAIR.com www.DATAIR.com (DATAIR Employee Benefit Systems, Inc.)

5500 Filing: Easy, Efficient & Reliable
Experience the ease and reliability of 5500 filing with ASC! File up to 10 forms through our web-based 5500 system -- with NO obligation. Click on the link for more info and registration. (ASC)

Fast, Integrated, Affordable Form 1099 Software
Wolters Kluwer Law & Business -- ftwilliam.com offers web-based 1099 Software that will help simplify the 1099 preparation process. Need help with all that printing, mailing and e-filing? Ask about our Service Bureau. We'll take care of that for you. (ftwilliam.com)

Advisors & TPAs: Don't Miss the NAPA/ASPPA 401(k) SUMMIT 2013!
Join us in exciting Las Vegas at Caesar's Palace and get the latest government and regulatory updates that affect you and find out why 1,300+ retirement plan professionals return every year. (American Society of Pension Professionals & Actuaries (ASPPA))

The most important thing you can do today -- Vote!
Let each citizen remember at the moment he is offering his vote that he is not making a present or a compliment to please an individual -- or at least that he ought not so to do; but that he is executing one of the most solemn trusts in human society for which he is accountable to God and his country. (Samuel Adams in the Boston Gazette, April 16, 1781) (BenefitsLink.com)

What You Need to Know About PPA Restatements & More Webinar
This webinar will cover the PPA Volume Submitter (prototype format) document from head to toe. We will also touch on some of the new formats and plans that we will offer customers for PPA. Join to learn how ftwilliam.com will make life easier for PPA. (ftwilliam.com)

Real-World Solutions for Your Health, Benefits & Wellness Programs
Hear what's working for senior executives at major employers including: American Express, Big Lots, Carlson, Chipotle Mexican Grill, Comcast, H-E-B, Intel, Leviton, Microsoft, NextEra Energy, Walgreens and Yahoo! Limited-time registration offer going on now. (Health & Benefits Leadership Conference)

U.K. Pension Valuations to Plunge Under New Investment Return Assumptions
"The [U.K.] Financial Services Authority said that from 2014 the predicted growth rates used to give investors an idea of what their pension pot will be worth when they retire must be significantly lower than they are today.... Experts said that the lower rate will provide a 'dose of cold economic reality' to savers and will give them a more accurate idea of the money they can expect to receive on retirement." (The Telegraph)

Learn the definition of business success at NIPA's 2013BMC
NIPA's 2013 Business Management Conference (BMC) will provide insight into the evolution of successful TPA business management. This one-of-a-kind event is an open forum for TPA business owners to examine industry developments and challenges. (NIPA (National Institute of Pension Administrators))

Best Practices of Governmental Employers in Procuring Actuarial Services, 2012 Edition
"The Government Finance Officers Association ... recommends that state and local governments take the following steps to obtain high-quality actuarial services for their public retirement plans: 1) identify the actuarial services required; 2) establish selection criteria; 3) develop a clear and concise request for proposals (RFP); 4) determine, to the degree possible, the level of independence and objectivity of the actuary; 5) establish procedures for working with the actuary; and 6) periodically review and rebid actuarial contracts." (Government Finance Officers Association)

The Fiscal Implications of Massachusetts Retirement Boards' Investment Returns (PDF)
"Even though the commonwealth's public pensions are funded better than most other states', the sea change in asset markets over the past few years calls for a reexamination of actuarial assumptions and funding plans." (Pioneer Institute)

Actuarial Practices Relating to Preparing, Reviewing and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act (PDF)
"This document is intended to provide information to actuaries preparing, reviewing, or commenting on rate filings in accordance with Section 2794 of the Public Health Service Act, as amended by the Affordable Care Act (ACA). Section 2794 requires the Department of Health and Human Services (HHS) Secretary to work with states to establish an annual review of 'unreasonable' rate increases. All rate changes, above and below the 'unreasonable' threshold, are discussed in this practice note." (American Academy of Actuaries)

DATAIR! Smart By Design -- More Choices -- Less Cost
Proposals, Testing, Valuation, IRS/DOL/PBGC Forms, Plan Documents -- Includes Graded, 412(e)(3), Cash Balance, Combo Plans -- (888) 328-2474 Sales@DATAIR.com www.DATAIR.com (DATAIR Employee Benefit Systems, Inc.)

Evaluating Your Third-Party Administrator: Are You Getting What You're Paying For?
November 2 -- live audio conference explores the key roles of third-party administrators, how to evaluate a third-party administrator and the key areas to be evaluated to ensure you are receiving what you are paying for. Discounted pricing for BenefitsLink readers. (Lorman and BenefitsLink.com)

5500 Filing: Easy, Efficient & Reliable
File up to 10 forms between now and January 15, 2013 through ASC's web-based 5500 system -- with NO obligation - and see just how easy it can be. Click on the link for more info and registration. (ASC)

Explore advantages and disadvantages of cash balance plans!
Cash balance plans are a critical facet of any plan consultant's knowledge base. Through this module, you will explore the advantages and disadvantages of a cash balance plan and how it works in combination with a defined contribution plan. (American Society of Pension Professionals & Actuaries (ASPPA))

Web-based proposals -- Like NOTHING you've seen before.
PenEasy dramatically reduces the data input, expertise and cost needed to produce comparison illustrations for popular retirement plan designs. Web-based PenEasy requires no software installation and creates effective PDF output to clinch the sale. (BlazeSSI)

Industry Education Begins with RPF
Earn Your RPF Certificate and start your journey to a credential. RPF webcourses, texts and exams cover terminology, issues, and requirements for anyone starting the credential process or building a career. Start your journey today. (ASPPA)

The Actuarial Challenges of Pricing Health Insurance for the 2014 Exchanges (PDF)
"The ACA introduces changes in 2014 that require actuaries to use much more complex models to develop premiums. First, the ACA will expand private insurance coverage ... Second, the ACA requires new benefit designs to be offered in 2014 ... Third, the law eliminates premium differentials by health status and gender and restricts age variation ... Fourth, the ACA contains three risk mitigation strategies ... [which] add uncertainty and complexity to pricing since the full design parameters are not yet known and actuaries have only limited data with which to model their expected impacts." (National Institute for Health Care Management)

Fast, Integrated, Affordable Form 1099 Software
Wolters Kluwer Law & Business -- ftwilliam.com offers web-based 1099 Software that will help simplify the 1099 preparation process. Need help with all that printing, mailing and e-filing? Ask about our Service Bureau. We'll take care of that for you. (ftwilliam.com)

Defending & Managing ERISA Litigation -- Oct. 29-30, NYC
Advanced forum brings together leading in-house counsel and outside defense attorneys to engage in developing winning litigation strategies and overcoming new and emerging theories of liability from the plaintiffs' bar. BenefitsLink discount code: BL 200 (American Conference Institute)

401k Professionals: Get your Qualified 401(k) Administrator Credential!
Work in some aspect of retirement plan administration? Want to specialize in the administration of 401(k) plans? The QKA credential is for you! Get your Qualified 401(k) Administrator (QKA) Credential and show that you're serious about your career! (ASPPA)

Fast, Integrated, Affordable Form 1099 Software
Wolters Kluwer Law & Business -- ftwilliam.com offers web-based 1099 Software that will help simplify the 1099 preparation process. Need help with all that printing, mailing and e-filing? Ask about our Service Bureau. We'll take care of that for you. (ftwilliam.com)

Join Sutherland for a Free Webinar -- October 23 -- Register Now
We will provide an overview of the 3 components of the EPCRS program, including when to determine if self-correction is appropriate versus when a filing should be made with the IRS and methods for identifying and correcting common plan errors. (Sutherland Asbill & Brennan LLP)

The Challenges of Pricing Health Insurance for the 2014 Exchanges (PDF)
"Health actuaries are experts at building analytic models to account for multiple factors expected to affect future health care spending. Their job has grown more difficult of late, however, due to changes in a large number of important pricing factors introduced by the Affordable Care Act (ACA) starting in 2014.... [This article describes] how actuaries price today and [identifies] some of the key risks introduced by the ACA, then discuss[es] the consequences for health plans and consumers if rates end up being set too high or too low." (National Institute for Health Care Management)

DATAIR! More Choices -- Better Guidance -- Less Cost
Documents, SPDs, Amendments, Administrative Forms ... 401(k)/Profit Sharing, 403(b), DB and Cash Balance Plans... (888) 328-2474 -- Sales@DATAIR.com -- www.DATAIR.com (DATAIR Employee Benefit Systems, Inc.)

West Coast Defined Contribution Conference ? San Francisco Nov. 4-6
Free registration for qualified plan sponsors. Sponsored by Pensions & Investments - learn how to develop a defined contribution plan that helps ensure your participants lifetime income. (Pensions & Investments)

SWBA / IRS Employee Benefits Conference for Practitioners and Plan Sponsors
Staying up to date in the challenging world of employee benefits has never been more critical for benefits professionals and plan sponsors. Changes in regulations, technology, workforce and the economy continue to influence company benefits. Stay informed. (SWBA (SouthWest Benefits Association))

Convert now for PPA. We've done the work and thinking for you!
Step 1. FREE batch plan conversion, Step 2. Batch Amendment and Batch Notices for plan maintenance, Step 3. Batch restate plans in just a few minutes with the click of a button! Contact us for details and live demonstration sales@ftwilliam.com. (ftwilliam.com)

Defending & Managing ERISA Litigation -- Oct. 29-30, NYC
Advanced forum brings together leading in-house counsel and outside defense attorneys to engage in developing winning litigation strategies and overcoming new and emerging theories of liability from the plaintiffs' bar. BenefitsLink discount code: BL 200 (American Conference Institute)

Qualified Plan Distributions -- Avoid Common Mistakes!
Failure to understand the rules regarding qualified plan distributions can result in plan disqualifications and claims from participants and beneficiaries. Join Charles Lockwood, Oct 18th, as he clarifies this important topic. (ASC)

The latest on employee benefit issues + Top IRS & DOL Speakers
Explore employee benefit issues with colleagues and local, regional and national government representatives from the Internal Revenue Service and the Department of Labor! (American Society of Pension Professionals & Actuaries (ASPPA) and the Council of Independent 401(k) Recordkeepers (CIKR))

PBGC Interest Assumptions for Paying Benefits From Terminated Single-Employer Plans for November 2012
"The November 2012 interest assumptions under the benefit payments regulation will be 0.75 percent for the period during which a benefit is in pay status and 4.00 percent during any years preceding the benefit's placement in pay status. In comparison with the interest assumptions in effect for October 2012, these interest assumptions are unchanged." (Pension Benefit Guaranty Corporation)

DATAIR! Better Than Ever - Flexible Pricing - Superior Validation
Choose "Pension Reporter System" modules you need: EFAST2 5500/PBGC/SAR, 1099Rs, 5300s, FAS158 (888) 328-2474 Sales@DATAIR.com www.DATAIR.com (DATAIR Employee Benefit Systems, Inc.)

Join Sutherland for a Free Webinar -- October 23 -- Register Now
We will provide an overview of the 3 components of the EPCRS program, including when to determine if self-correction is appropriate versus when a filing should be made with the IRS and methods for identifying and correcting common plan errors. (Sutherland Asbill & Brennan LLP)

Convert now for PPA. We've done the work and thinking for you!
Step 1. FREE batch plan conversion, Step 2. Batch Amendment and Batch Notices for plan maintenance, Step 3. Batch restate plans in just a few minutes with the click of a button! Contact us for details and live demonstration sales@ftwilliam.com. (Wolters Kluwer Law & Business / ftwilliam.com)


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