The McKeogh Company is proud to announce that Karen Crossin and Mandy Notaristefano are presenting at the International Foundation of Employee Benefits – 2022 Annual Conference in Las Vegas, Nevada. Karen’s session on Monday October 24th is titled “Specialty Benefits”. Mandy’s session on Tuesday October 25th is titled “Investment Returns vs. Actuarial Assumptions”. Additional information about the International Foundation of Employee Benefits can be found here: www.ifebp.org
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TMC Update – Jim at the Conference of Consulting Actuaries
The McKeogh Company is proud to announce that Jim McKeogh was a presenter at the Conference of Consulting Actuaries 2022 Annual Meeting in Austin, Texas. Jim’s session on October 17, 2022 was titled “Dueling Actuaries”. Additional information about the Conference of Consulting Actuaries can be found here: https://www.ccactuaries.org/
2023 PBGC Premium Rates
The Pension Benefit Guarantee Corporation announced the 2023 premium rates. The per-participant flat premium rate for plan years beginning in 2023 is $96 for single-employer plans (up from a 2022 rate of $88) and $35 for multiemployer plans (up from a 2022 rate of $32).
For plan years beginning in 2023, the variable-rate premium for single-employer plans is $52 per $1,000 of unfunded vested benefits (UVBs), up from a 2022 rate of $48. The variable-rate premium is capped at $652 times the number of participants (up from a 2022 cap of $598). Plans sponsored by small employers (generally fewer than 25 employees) may be subject to an even lower cap. Multiemployer plans do not pay a variable-rate premium.
Current and historical PBGC Premium Rates can be found here: https://www.pbgc.gov/prac/prem/premium-rates