Citgo Is Latest Large Employer Facing Actuarial Equivalence Challenge
The proposed class of plaintiffs alleges Citgo is using mortality assumptions that are at least 50 years out of date while converting from a pension plan’s standard annuity benefit to alternative options.
A Well-Informed Look at the EBSA’s Terminated Vested Participant Project
PBGC Takes Over J.C. Penney Pension
A purchase agreement allowing the company to emerge from Chapter 11 bankruptcy does not include the pension plan debts or assets, despite its comparatively strong funding position.
Massive Teacher Retirements Could Hurt Pensions
It would increase public pension plans’ required contributions and result in lower contributions by members.
Segal Leaders Perplexed Over Treasury’s Benefit Cut Rejections
A law passed in 2014 allows stressed union pensions to reduce benefits in order to prevent insolvency, subject to approval by the U.S. Treasury. One leading actuarial firms says the agency is preparing to wrongfully reject an application made by one of its clients.
Coronavirus News for Plan Advisers
Focused analysis of market movements, business challenges and legislative and regulatory actions.
ERISA Title IV Determination Process Updated by PBGC
Among other elements, Title IV of ERISA is used to determine liability for PBGC termination premiums.
