Text of Proposed Reg Harmonizing Federal Government's Cost Accounting Standards with PPA Changes to Minimum Funding Rules for Contractors' DB Plans (PDF)
44 pages. Excerpt: "The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (Board), invites public comments concerning the harmonization of Cost Accounting Standards 412 and 413 with the Pension Protection Act (PPA) of 2006. The PPA amended the minimum funding requirements for defined benefit pension plans. The PPA required the Board to harmonize with PPA the CAS applicable to the Government reimbursement of the contractor's pension costs. The Board has proposed several changes to harmonize CAS with PPA, including the recognition of a 'minimum actuarial liability' consistent with the PPA minimum required contribution. The proposed CAS changes will lessen the difference between the amount of pension cost reimbursable to the contractor in accordance with CAS and the amount of pension contribution required to be made by the contractor as the plan sponsor by PPA."
(U.S. Federal Procurement Policy Office, Office of Management and Budget)
Voluntary Enrollment Increases Target-Date Funds' Surging Popularity
Excerpt: "Clearly, plan sponsors are choosing target-date funds for their plans, spurred on, perhaps, by factors such as autoenrollment and the designation of these fund types as a qualified default investment alternative (QDIA) under the Pension Protection Act of 2006 (PPA). But do participants appreciate the funds and their simplified approach to portfolio construction and reallocation? The data suggests that they do . . . ."
(The Vanguard Group, Inc.)
Obama's High Court Nominee Argued in Fund Fee Case
Excerpt: "Elena Kagan, nominated on Monday by President Barack Obama to become a U.S. Supreme Court justice, urged the high court in a filing last year to reject a 2008 appellate court decision that would have made it easier for mutual funds to charge higher fees to retail customers than pension funds and other institutional clients for similar strategies managed in separate accounts."
(Pensions & Investments via Business Insurance)
Survey Results: 401(k) Practices (PDF)
Excerpt: "The full survey includes 13 questions about 401(k) benefit practices, broken out by company size, industry, and geography."
(Business & Legal Reports, Inc.)
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