New developments affecting defined benefit pension plans
By Milliman Employee Benefits Research Group
13 August 2015
The IRS is updating static mortality tables for pension plans for 2016 and closing lump-sum benefit windows for retirees receiving benefits. The PBGC released a proposed rule to amend the requirements for the annual financial and actuarial information reporting for single-employer defined benefit pension plans, taking into account changes made by recent highway/transportation laws. Additionally, the newly enacted “Surface Transportation and Veterans Health Care Choice Improvement Act” includes a provision that allows defined benefit plan sponsors to transfer excess plan assets to retiree medical accounts and group-term life insurance accounts for an additional four years.
About the Author(s)
Milliman Employee Benefits Research Group
New developments affecting defined benefit pension plans
CAB 15-8: This Client Action Bulletin provides an overview of several key developments—in the form of IRS guidance, PBGC proposed regulations, and a new law—that have occurred recently for employers that sponsor defined benefit pension plans.
Milliman Employee Benefits Research Group