BCG News

Several years ago, the Pension Protection Act (PPA) completely revised the funding requirements for private sector defined benefit pension plans – primarily through the use of relatively lower 2 year averaging of historical interest rates for actuarial valuations, which relatively increased actuarial liabilities and plan costs.

The Government Accounting Standards Board (GASB) announced approval of Exposure Drafts of three new accounting standards for OPEB and unfunded pension plans, which were issued in June of 2014. The proposed Statements will replace GASB 43 and 45, and will significantly impact how state and local governments report liabilities and expenses associated with OPEB.

We want to make you aware of some recent significant changes regarding PBGC premiums.

Do your employees recognize the value of their benefits package? According to the U.S Chamber of Commerce 80% of worker’s don’t understand the value of their total rewards package, which averages over 42% of payroll