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Compliance November 22, 2016
PBGC Issues New Table for Determining Expected Retirement Ages
The table is for use by pension plans undergoing distress or involuntary termination with valuation dates falling in 2017.
Reported by PLANADVISER Staff
The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule on Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age.
This rule amends the agency’s regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2017.
This table is needed in order to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
The effective date of the final rule is January 1, 2017.