Guidance on Pension Funding Stabilization Under the Highway and Transportation Funding Act of 2014
September 29, 2014 11:30 AM - 12:45 PM
A special audio/webcast is being held on September 29, 2014 to educate actuaries on the key pension-related provisions of the Highway and Transportation Funding Act of 2014 (HATFA). MAP-21 enabled plans to take advantage of the temporary reductions in contribution levels and improved funded status resulting from the interest rate stabilization provisions in effect for 2012 and later plan years. HATFA extends the phase-out of the MAP-21 interest rate corridor until 2018. It is imperative that actuaries understand the HATFA changes to MAP-21 with respect to the determination of interest rates used to determine funding target liabilities and how those changes might affect contribution requirements and benefit restrictions.
Regulatory guidance (Notice 2014-53) was issued on September 11 and requires many plan sponsors to make important decisions and elections in the coming weeks. Notice 2014-53 provides plan sponsors with guidance on:
Options for making an election to defer HATFA for 2014;
How to address funding balance waivers, re-designation of contributions between plan years, and elections to add to the prefunding balance;
Timing for reflecting changes to 2014 AFTAP certifications; and
Schedule SB reporting to reflect HATFA rates.
Join our panel of experts who share their understanding of the funding and benefit restriction changes enacted by HATFA, the issues that are addressed in the regulatory guidance and issues that were not addressed with the HATFA guidance.
- Session Category
- Employee Benefits - Compliance Issues
- EA Core1.50