The latest deficit increase was driven primarily by the
ongoing financial decline of several large multiemployer plans that are
expected to run out of money in the next decade.
Three documents set forth mortality tables to be used by certain DB plans in actuarial assumptions and the procedures to request the use of plan-specific mortality tables instead.
A new survey report from S&P Global Ratings examining the pension
plans of the 15 largest U.S. cities “reveals some common trends and key factors
related to net pension liability per capita and funded ratios.”
Custom yield curves help DB plan sponsors determine an appropriate discount rate to measure liabilities for their pension and other post-retirement benefit obligations, the firm says.
The board says stakeholders have stated that the current presentation requirement has less value and requires users to incur greater costs in analyzing financial statements.
Based
on the Society of Actuaries' preliminary estimates, the new scale may reduce pension plan clients' current
liabilities by 1.5% to 2%, depending on the individual characteristics of the
plan.