2007 PBGC Schedule A

[dmb]

The PBGC instructions for ACM filers say assets are market value as reported on line 2a of the 2006 Schedule B, which for our plans do not include receivables or payables. The current liability amounts, however, reported on the 2006 Schedule B are net of payables. Should payables be added back into the liabilities?? Is anyone else having issues with the new asset reporting method for PBGC purposes?? Any help is appreciated. Thanks.

[SoCalActuary]

I believe you have a duty of consistency here. Otherwise, you are intentionally misleading the PBGC.

One solution is to show the payables as part of the expected benefit payments for the year, but keep the current liability for the participants to include the amounts not yet paid.