"The proposed changes are substantial and may significantly impact who in the future can meet or who is willing to meet the requirements of the QPAM Exemption."  MORE >>

"[W]hile the proposed rule does not prohibit the use of its assumptions retroactively, the use of any rate other than the minimum funding rate could continue to be challenged as not reasonable actuarial assumptions and not the actuary's best estimate under Section 4213(a)(1), if used for any withdrawals that occur before the effective date of the final rule."  MORE >>

"Plan sponsors should pay particular attention to the following notable items ... [1] For payments that began before 2022 ... a pensioner is not required to complete a new Form W-4P, and the prior withholding election ... remains in effect unless the pensioner submits a new Form W-4P. [2] For an eligible rollover distribution, the Form W-4R is used to select a withholding rate greater than the 20% default withholding rate. [3] For nonperiodic payments, the Form W-4R is used to select a withholding rate (between 0% and 100%) other than the 10% default withholding rate."  MORE >>

"A potential backlash on ESG investing along with confusion over DOL guidance led to an 14% drop in ESG implementation by institutional investors include large pension and DC plans, according to new research from Callan."  MORE >>

"Discount rates continued climbing, ending the month at yet another recent high point. Equity returns were positive for the month, but are still significantly down for the year.... With liabilities decreasing with the rising discount rates, most pension plans will see an increase in their funded status this month, particularly those with more equity exposure."  MORE >>

"The funded status of the 100 largest corporate defined benefit pension plans posted their largest monthly increase for the year in October, improving by $47 billion ... An increase in the benchmark corporate bond interest rates used to value pension liabilities led to a decrease in plan liabilities, representing a gain of $51 billion for the month. As of October 31, the funded ratio jumped to 112.8%, from 108.8% at the end of September, and the funded status surplus increased to $163 billion."  MORE >>

"The WTW Pension Index in October 2022 increased to the highest level it has seen in over two decades, despite the volatility seen in the month. Strong investment returns were combined with the reduction in liabilities due to a continued increase in discount rates. As a result, the end-of-October index level of 105.4 reflects an increase of 8.7% for the month. This is the first time the hypothetical plan represented by the index has achieved full funding since March 2002"  MORE >>

26 pages.  Employee benefits items begin on page 4.  MORE >>