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Summary of the Chairman's Mark of the Defined Benefit Security Act of 2005 (PDF)
American Benefits CouncilLink to more items from this source
Sept. 6, 2005
2 pages. Excerpt: The Chairman's mark adopts a stringent new funding regime to ensure that defined benefit plans are fully funded. The new rules require the amortization of all liabilities over ten years, based onassets averaged over no more than 18 months and liabilities measured over a full yield curve that is smoothed over 18 months. Because such measurements can cause volatility, a company's minimum required contribution for a year is smoothed on the back end by restricting swings[.]

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