Headlines about "Actuarial - PBGC reform"

Gathered from the web by the editors at BenefitsLink.com.
Broken ARC, Broken Promises: Underfunded Public Pension Plans
"It divides underfunded public pension plans into two categories those whose sponsors make the full Actuarially Required Contributions (ARC) and those who do not. While state and plan bankruptcy is being discussed, the author prefers a more incremental approach for the vast majority of plans whose sponsors make the ARC each year. However for the ones who have broken the ARC and are in deep trouble he introduces a new type of Federal Supervision under the PBGC as an alternative to Federal Bankruptcy." (Stable Value Consultants)

[Opinion] Highway Bill's Pension Language Makes Taxpayer Bailout of PBGC More Likely
"Taxpayers are already likely to have to send $23 billion to the PBGC, and the Senate's Highway Investment, Job Creation, and Economic Growth Act of 2012 (S. 1813), which reauthorizes transportation programs for the next two years, would almost certainly increase that amount significantly." (The Heritage Foundation)

[Opinion] American Benefits Council Comments on Proposal to Increase PBGC Premiums: Myths and Facts (PDF)
"Adoption of this proposal in whole or in part would substantially accelerate the decline of the defined benefit plan system and adversely affect job retention. Several myths about PBGC that have been raised during the policy debate are highlighted here." (American Benefits Council)

What to Look For in 2012: PBGC
"Some policymakers, too, want to see increases in premium revenue to buffer the PBGC's deficit.... Look for both sides of the debate to continue to play out during the year, with the PBGC arguing for more money, and opponents arguing for more transparency of the PBGC's self-appraisal." (Retirement Town Hall)

Ensure your Plan Participants are Prepared for a Secure Retirement
Defined Contribution Conference, March 11-13, in Miami. Learn from your peers through presentations and discussions on plan design, communications, investment options and more. FREE registration for qualified plan sponsors. (Pensions & Investments)

Avoid the Common Mistakes Affecting Plan Loans Webcast
Earn CE credit while ERISA expert, Charles Lockwood, JD, LLM, explains the administrative issues that affect plan loans. Have questions? Charles will address them either during or after the webcast. March 22nd at 2pm EST. (ASC)

PBGC Premium Hike Out of Payroll Tax Deal; Pension Funding Changes in Highway Bill
"PBGC premium increases were left out of the final House-Senate agreement on extending the payroll tax cut through 2012 but will remain in play, so plan sponsors will continue to urge against the idea. They will also continue their push for pension funding reforms to stabilize contributions. A new Senate Finance Committee proposal to change discount rates is an important first step, but as drafted -- with a shorter averaging period and wider corridor than industry groups are pushing for -- actually offers little relief or stability." (Mercer)

Hearing: Examining the Challenges Facing PBGC and Defined Benefit Pension Plans
The February 2, 2012, hearing is scheduled at 10:00 a.m. in room 2175 Rayburn H.O.B. Witnesses to be announced. (U.S. House Committee on Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions)

Inspector General Faults PBGC's 'Systemic' Failures
"Following another report that finds fault with the Pension Benefit Guaranty Corp.'s audit processes and valuation of plan assets, the agency has cut most of its ties with one auditor and has promised to change procedures so that errors are prevented -- or corrected. Critics say it's about time the agency responded to problems." (Human Resource Executive Online)

PBGC Rate Boost Plan Draws Flak
"PBGC director Joshua Gotbaum wants Congress to give the agency the authority to set premiums the way most insurers do: Let the companies with the sickest pension plans pay higher premiums and healthy plans pay less. Mr. Gotbaum notes that the Federal Deposit Insurance Corp., which insures bank deposits, has been using risk-based premiums for years." (PG Publishing Co., Inc. )

PBGC Reports Growing Deficit in Latest Annual Report
"Without a new round of fee increases, the PBGC -- which is funded by a combination of company premiums and investment returns on its $81 billion in assets -- could eventually require a taxpayer bailout, according to its director, Joshua Gotbaum." (The Washington Post; free registration required)

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