Which Current Liability?

[Andy the Actuary]

For 2007, Plan reported on Schedule B current liability of $150,000 and excluded preparticipation liability of $100,000. Actuarial value of assets for 2007 was $150,000. Assume no credit balance.

Is 2007 AFTAP = 100% or is 2007 AFTAP = 60% [150/250] ?

[SoCalActuary]

I did not see any reference to the part of cl that is ignored within the new aftap regs. So my vote is 60%

[Andy the Actuary]

So, while there is no reference to 412(l)(7)(D) in the proposed reg., the question remains whether 412(l)(7)(D) is implicit in the calculation of CL? Simply another vague and uncertain provision of that disconbobulation that is affectionately referred to as the PPA.

Any other voters out there?

[flosfur]

I did not see any reference to the part of cl that is ignored within the new aftap regs. So my vote is 60%

But by definition, Section 412(l)(7) CL can be determined by disregarding certain % of pre-participation service and the proposed regs do not say, S412(l)(7) CL without regard to S412(l)(7)(D).

So my vote be for 100%.