PBGC proposes changes in plan benefit valuation rules for single-employer and multiemployer plans after mass withdrawal
Article Abstract:
The Pension Benefit Guaranty Corp (PBGC) has issued proposed changes to the valuation of plan benefits in single-employer plans which have been terminated and are being managed with the PBGC as trustee. Proposed changes include the updating of mortality assumptions, the separation of interest rate and administrative expense assumptions, the usage of unisex mortality assumptions to figure out lump-sum distributions and a new interest rate structure for the valuation of annuity benefits.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
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IRS approves changes in asset valuation method and software for defined benefit plans
Article Abstract:
IRS Revenue Procedure 98-10 adds three methods which may be used in the administration of defined benefit plans for automatic approval of changes in methods of asset valuations to those provided in Revenue Procedure 95-51. The methods added include the average value with alternative phase-in and smoothed market value with and without phase-in. The procedure also allows for automatic approval in funding methods where they result from valuation software changes if six conditions are met.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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PBGC issues final rules on standard terminations; more flexibility for plan administrators
Article Abstract:
Final rules concerning standard terminations of pension plans were issued on Nov 7, 1997 by the Pension Benefit Guaranty Corp (PBGC). The rules relax notice requirements in several ways such as extending filing deadlines. Model notices and a model timeline were also issued and provide helpful but not mandatory guidance. Forms and filing packages conforming with the final rules will be issued by the PBGC.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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