Pension RC Posted March 5, 2014 Posted March 5, 2014 If a plan was started in 2013, no past-service is credited, and the beginning of year assets are $0, is the 2013 AFTAP 0% or 100%? Is there official guidance on this? Would it make a difference if the valuation date was 12/31/2013? Thanks!
david rigby Posted March 5, 2014 Posted March 5, 2014 Thou shalt (at least) review the regulations. 1.430(d)-1(b)(3)(iii) http://www.ecfr.gov/cgi-bin/text-idx?SID=4abbcca6c52667ada824ab0ecc963f8f&node=26:5.0.1.1.1.0.3.304&rgn=div8 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
chc93 Posted March 5, 2014 Posted March 5, 2014 See REG 1.436-1(j)(1)(iv)... Definitions... Plans with zero adjusted funding target. If the adjusted funding target for the plan year is zero, then the adjusted funding target attainment percentage for the plan year is 100 percent.
david rigby Posted March 5, 2014 Posted March 5, 2014 BTW, the reg was published in the October 15, 2009 Federal Register. http://www.gpo.gov/fdsys/pkg/FR-2009-10-15/pdf/E9-24284.pdf You may find it useful to save a PDF copy to your own computer/network. In my version of Adobe Reader, it is searchable, which is very helpful. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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