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5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.
President Obama's fiscal year 2013 budget request proposes to give the Pension Benefit Guaranty Corporation (PBGC) Board the authority to set risk-adjusted premiums. The proposal, similar to the proposal contained in the FY 2012 budget request, is estimated to save the government $16 billion over the next decade.
Changes would be phased in
Under the budget proposal, the PBGC Board would be given the authority to adjust premiums gradually over time starting in the 2014 fiscal year. Premiums would take into account the risks that different sponsors pose to their retirees and to the PBGC. The proposal is designed to encourage companies to fully fund their pension benefits and to ensure the continued financial soundness of the PBGC.
According to the Labor Department, "in order to ensure that these reforms are undertaken responsibly during challenging economic times, the policy change would require one year of study and public comment before any implementation with a gradual phasing in of any increases."
Source: FY 2013, Department of Labor, Budget in Brief. Labor Department News Release, No. 12-0285-NAT, February 13, 2012.
For more information, visit http://www.wolterskluwerlb.com/rbcs.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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