Monday, April 14, 2014
ING sends statement explaining how "MAP-21" reduces pension funding short falls
ING sent to its retirees a handout that explains the significance of the Moving Ahead for Progress in the 21st Century Act, or MAP-21. The Act would allow pension plans to use a 25-year aged of interest rates (rather than a rolling 2-year average), which typically means now that plan liabilities (or funding shortfalls) may be lower and employer contributions may be lower.
The Goctrack reference (S1813) is here.