Planning Responsibly for the Future, Public Sector Pension Plans. Responding to Your Questions PDF Download

Author: Alberta. Alberta Treasury
Publisher:
ISBN:
Category :
Languages : en
Pages : 3

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Author: Alberta. Alberta Treasury
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author:
Publisher: DIANE Publishing
ISBN: 1428943951
Category :
Languages : en
Pages : 64

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Author: Venable LLP
Publisher: Aspen Publishers
ISBN: 9781454886709
Category : Civil service
Languages : en
Pages : 0

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Governmental Plans Answer Book, Fourth Edition, provides in-depth coverage of these complex plans, which must satisfy federal laws as well as pension, investment, and other laws of the applicable state or local governments. The authors analyze the most current developments in practice, as well as legislation, regulation, and law. Governmental Plans Answer Book, Fourth Edition, is the one resource that takes pension professionals step by step through all the aspects of plan administration and compliance in this demanding practice area. The Fourth Edition of Governmental Plans Answer Book gives subscribers the most relevant, current, and practice-oriented answers to the issues faced daily by plan administrators, attorneys, actuaries, consultants, accountants, and other pension professionals as they navigate the requirements and procedures involved in administering their plans. The Fourth Edition of Governmental Plans Answer Book examines the following significant changes and case law in this area and includes: Department of Labor regulations that define who is a fiduciary as a result of rendering investment advice to a plan, or to its participants, or beneficiaries (see Chapter 7). Elimination of the ability to obtain Internal Revenue Service (IRS) determination letters on individually designed plans, except on their inception or termination (see Chapter 4). Recent legislative developments affecting governmental plans (see Chapter 13). Expanded coverage of cases in text cross-referenced to Appendix E, Recent Court Decisions of Interest Involving Governmental Plans (see Appendix E). Updates on the size of the public pension community: its membership, assets, rate of participation in different types of retirement plans, and the number of participating public employers (see Chapter 2 and Appendix Table A-1). New and updated information regarding public pension financial reporting and communications practices (see Chapter 5). Expanded and updated descriptions of hybrid retirement plans provided for employees of state and local government (see Chapter 2 and Appendix Tables A-2 through A-5). An examination of how the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, as further amended by the Bankruptcy Technical Corrections Act of 2010, impacted certain issues arising under the Bankruptcy Code (see Chapter 14). Issues concerning proof of electronically signed or adopted beneficiary designation (see Q 12:5). A review of a Supreme Court case that held a Chapter 7 trustee could not contest the validity of a claimed exemption after the objection deadline expired (see Q 14:32). New case law discussing the use of the legal fiction of a nunc pro tunc order (see Q 13:33). Expanded discussion of pre-approved plans (see Chapter 4). Issuance of IRS opinion and advisory letters on pre-approved 403(b) plans (see Chapter 4). Inception of annual Required Amendments Lists for individually designed plans (see Chapter 4). Guidance on correction procedures if a 403(b) plan erroneously excludes participants from making contributions (see Chapter 4). Modifications to the Employee Plans Compliance Resolution System (see Chapter 4). Expanded discussion on community property (see Q 12:45). Previous Edition: Governmental Plans Answer Book, Third Edition ISBN 9781454886082

Author: Carol V. Calhoun
Publisher: Aspen Publishers
ISBN: 9781543830989
Category :
Languages : en
Pages : 1178

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Governmental Plans Answer Book, Fifth Edition, provides in-depth coverage of these complex plans, which must satisfy federal laws as well as pension, investment, and other laws of the applicable state or local governments. The authors analyze the most current developments in practice, as well as legislation, regulation, and law. Governmental Plans Answer Book, Fifth Edition, is the one resource that takes pension professionals step by step through all the aspects of plan administration and compliance in this demanding practice area. Governmental Plans Answer Book, Fifth Edition, gives subscribers the most relevant, current, and practice-oriented answers to the daily issues faced by plan administrators, attorneys, actuaries, consultants, accountants, and other pension professionals as they navigate the requirements and procedures involved in administering their plans. The Fifth Edition examines significant changes and case law in this area and includes the following: Major enactments affecting state and local governmental pension plans, including a table of issues summarizing the types of legislation (see What's New). The Supreme Court decision in Bostock v. Clayton County, holding that discrimination on the basis of sexual orientation or transgender status constitutes sex discrimination for purposes of Title VII of the Civil Rights Act of 1964 Proposed regulations under Internal Revenue Code section 4960, dealing with the excise taxes on excess compensation and excess parachute payments Updated data on state and local governmental pension plans, including assets, number of members, composition of the plans' boards of trustees, benefits and eligibility of general employees and teachers, defined benefit-defined contribution combination plans, and cash balance plans, accompanied by a table for each topic Updated appendix on recent court decisions involving governmental plans (see Appendix C) with summaries of certain cases included in Chapter 2 and linked to Appendix C for easier access. Deadlines announced or extended for adoption of pre-approved defined benefit, defined contribution, and 403(b) plans Explanation of a public pension "stress test" (also known as risk assessment) Proposed Department of Labor (DOL) regulations governing environmental, social and governance (ESG) investing New DOL fiduciary regulations and proposed prohibited transaction class exemption Description of changes to Bankruptcy Code Chapter 13 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 Update to case law on whether the proceeds of a prepetition plan loan are property of the Bankruptcy Code Chapter 7 debtor's bankruptcy estate Updates to case law on whether plan loan repayments are excluded from the automatic stay Discussion of the Sixth Circuit Court of Appeals' recent opinion on voluntary post-petition contributions to a debtor's 401(k) plan Updates to case law on whether plan loans are dischargeable in Chapter 13 bankruptcies Updates to case law on an employer's participation in a multiple employer cost-sharing defined benefit governmental plan during bankruptcy Previous Edition: Governmental Plans Answer Book, Fourth Edition ISBN 9781454886709 Note: Online subscriptions are for three-month periods.

Author: Roel M. W. J. Beetsma
Publisher:
ISBN:
Category :
Languages : en
Pages : 10

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Most public-sector pension plans in the United States provide quite generous defined benefits. Long-term projections show that full payment of these promises threatens the finances of many state and local employers, which implies that taxes will have to be increased or pensions and/or other public expenditures reduced. This article analyzes the effectiveness of measures aimed at improving the sustainability of these plans. We consider the impact of contribution increases, benefit reductions, and adjustments in the pension fund's investment strategy. Since a pension fund can be seen as a zero-sum game, these interventions imply value redistributions among current and future plan participants and current and future tax payers. We use the value-based asset-liability management (ALM) method to estimate the value of those transfers. These imply massive value redistributions from taxpayers to plan participants that could exceed 20% of American GDP. Hence, plan sustainability may be achieved only through either substantially higher contributions or lower benefits.

Author: United States. Congress. Senate. Committee on the District of Columbia
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 478

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Author: Gary Anderson
Publisher: OUP Oxford
ISBN: 0199573344
Category : Business & Economics
Languages : en
Pages : 368

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Public pensions are often the subject of 'pension envy', as their benefits might seem more generous and contributions lower than those in the private sector. This book shows that such judgments are often inaccurate, and reflects a vigorous debate amongst academics and professionals as they seek to define a new future for public retirement systems.

Author: United States. Congress. House. Committee on Education and Labor. General Subcommittee on Labor
Publisher:
ISBN:
Category : Labor union welfare funds
Languages : en
Pages : 824

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Author: United States. Congress. Senate. Committee on the District of Columbia
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 492

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