Moody’s Investors’ Service has started to recalculate the states’ debt burdens to include the unfunded pension obligations owed to state employees
Continue Reading MOODY’S WILL COUNT UNFUNDED STATE PENSION BENEFITS IN RATING STATE BONDS
Plans
Dealing with 100% Excise Tax on Late Employer Contributions to Underfunded Multiemployer Plans Face 100% Excise Tax
The Pension Protection Act of 2006 (“PPA”) created certain funding classifications for multiemployer pension plans. Seriously underfunded plans are classified as either “critical” (“red zone”) or endangered (“yellow zone”). Plans that fall in between these two levels are considered “seriously endangered” (“orange zone”) plans. Such plans must send participating employers a notice about the plan’s…