Actuarial - misc (BenefitsLink.com)Headlines re Actuarial - misc, gathered by BenefitsLink.comOfficial Guidance Text of IRS Notice 2008-30: Certain Disribution-Related Provisions of PPA That Are Effective in 2008 (PDF)- (Found June 24, 2008 ) 10 pages. Excerpt: "This notice provides guidance on amending plans to require that distribution of excess deferrals includes earnings from the end of the taxable year to the date of distribution ('gap-period' earnings). . . . The sections of PPA '06 addressed in this notice are 824 (relating to rollovers from eligible retirement plans to Roth IRAs), 1004 (relating to additional survivor annuity options), and 302 (relating to interest rate assumptions for lump sum distributions)."..http://benefitslink.com/IRS/notice2008-30.pdf Practice Note on Disease Management (PDF)- (Found June 24, 2008 ) 37 pages. Excerpt: "Practice Notes from this work group describe what the work group believes to be the common practices of U.S. health actuaries. This Practice Note discusses some common approaches to evaluation in the disease management field." (American Academy of Actuaries)http://www.actuary.org/pdf/practnotes/health_dm07.pdf Guidance Overview Actuarial Equivalence for Prescription Drug Plans and Medicare Advantage Prescription Drug Plans under the Medicare Drug Program (PD- (Found June 24, 2008 ) Excerpt: "The purpose of this practice note is to provide guidance to the actuary certifying to the actuarial equivalence of a PDP or a MA-PD under the requirements of 42 CFR 423.265 and is based on interpretations of 42 CFR 423.265 and current CMS guidelines and requirements." (American Academy of Actuaries)http://www.actuary.org/pdf/practnotes/health_partd_mar08.pdf PBGC to Publish Final Rules on Premium Rates- (Found June 24, 2008 ) Excerpt: "The Pension Benefit Guaranty Corporation (PBGC) announced it will publish a final rule to amend PBGC's regulations on Premium Rates and Payment of Premiums in the Federal Register on March 21.' (PLANSPONSOR.com; free registration required)http://www.plansponsor.com/pi_type10/?RECORD_ID=40747 Guidance Overview IRS Issues PPA Lump Sum Guidance (PDF)- (Found June 24, 2008 ) 2 pages. Excerpt: "A defined benefit pension plan must determine the present value of a lump sum payment using the 'applicable interest rate' and the 'applicable mortality table' provided by the IRS. The Pension Protection Act of 2006 (PPA) redefined both of these terms and the IRS has recently provided guidance regarding these requirements." (Prudential Retirement)http://www.prudential.com/media/managed/Compliance-Bulletin-LumpSumGuidance.pdf The Implementation of GASB 45 - Case Studies of 15 Counties- (Found June 24, 2008 ) 62 pages. Excerpt: "Once a government learns its OPEB liabilities from the actuarial valuation, the government needs to develop an approach to complying with GASB 45. To help governments think about what would work best for them, the report discusses components of an implementation plan, including the implementation philosophies a government should consider, the types of persons that need to consulted in implementation and timing for implementation." (National Association of Counties)http://www.naco.org/Template.cfm?Section=Publications&template=/ContentManagement/Cont... Fewer PBGC Retirees Getting Full Earned Benefits- (Found June 24, 2008 ) Excerpt: "Eighty-four percent of the retirees who receive benefits from the federal pension insurance program receive the full benefit amount they earned under their retirement plans, according to the 2006 edition of the Pension Benefit Guaranty Corporation's Pension Insurance Data Book, which was released last week. In a 1999 study, the figure was 94 percent." (Occupational Health & Safety)http://www.ohsonline.com/articles/56425/ Overview: PBGC Guidance for Terminations and Lump Sum Distributions Straddling January 1st, 2008- (Found June 24, 2008 ) Excerpt: "For plan years beginning on or after January 1, 2008, the Pension Protection Act amended Code section 417(e)(3), changing the applicable interest rate and applicable mortality table. For single employer defined benefit plans terminating before January 1, 2008, this change created a potential lump sum valuation issue because a plan could be terminated before January 1, 2008, but not distribute until after January 1, 2008, meaning the plan could terminate under the old definition...http://qualifiedpensionconsulting.com/ppablog/2007/12/04/guidance-for-terminations-and-lum... Changes in Employee Benefits You Should Be Thinking About as 2007 becomes 2008- (Found June 24, 2008 ) Discusses change in minimum vesting requirement, single-sum distributions from defined benefit plans, more. Excerpt: "In our field of law, the wonder and anticipation of the holidays are always joined by two other year-end phenomena: effective dates and deadlines. This eBenefits Alert discusses the most significant changes in the employee benefits arena that we should be thinking about as 2007 becomes 2008. Links to more detailed discussions are included for some topics." (Gray Plant..http://www.gpmlaw.com/index.asp?pageID=128&action=Det&practiceAreaID=11&public... Overview: PBGC Announces Flat-Rate Premium for 2008 Payment Years- (Found June 24, 2008 ) Excerpt: "The Pension Benefit Guaranty Corporation (PBGC) has announced the Single-Employer Program's inflation adjusted flat-rate premium will be $33.00 per participant in 2008, up from $31 this year." (Deloitte via BenefitsLink.com)http://benefitslink.com/articles/washbull071210a.html |