Archive for June, 2007

Reordered Single Employer funding topics

June 29th, 2007

I am currently recording the videos for 430(j), 436 and 404(o).

I decided to change the order of the topics so that 430(j) follows 430(i). Then 436 will follow 430, and finally will be 404(o).


Drafts of 2008 Schedule B

June 23rd, 2007

You may find these helpful to understand how the minimum funding rules differ between single employer plans (IRC 430 and 436) and multiple employer plans (IRC 431 and 432):

Draft of Schedule SB for single employer plans

Draft of Schedule MB for multiple employer plans


Offline a few days

June 16th, 2007

I had hoped to upload more presentations to the web site this week. But Murphy’s law got me. Now I fly to Seattle for a few days.

 I’ve just recovered from a hard disk failure that occurred on Thursday. The timing was “perfect”, since I had made way too many changes to the files on PPA 2006. The software I used to recover the data partitions screwed up everything else, so I couldn’t restore my June 10 backups.


Overview of EA-2A exam

June 14th, 2007

The EA-2A exam syllabus has grown considerably. In 2006, it included these areas:

  1. Cost methods
  2. Ancillary benefits
  3. Gains and losses
  4. Optional forms and actuarial equivalence
  5. Internal Revenue Code (IRC) Section 412 minimum funding
  6. IRC Section 404 maximum deductible limits
  7. Numerous Internal Revenue Service regulations, revenue rulings, revenue procedures and notices

The Pension Protection Act of 2006 was passed into law in August 2006. This year, the syllabus has been expanded to include these topics:

  1. IRC Section 430 minimum funding for single-employer plans
  2. IRC Section 436 benefit based limitations for single-employer plans
  3. IRC Section 431 minimum funding for multiemployer plans
  4. IRC Section 432 funding for multiemployer plans in endangered or critical status
  5. IRC Section 415 maximum benefit limitations (also on 2007 EA-2B exam)
  6. IRC Section 416 Top Heavy rules (also on 2007 EA-2B exam)
  7. IRC Section 414(l) rules for mergers and spinoffs (added 07/25/07)

I’ve been busy writing up the new materials for the fall EA-2A seminar. It is a bit challenging, since the Joint Board has not yet released the details of exactly what will be on the exam. It is possible that the exam syllabus may not include IRC 432 and IRC 436.

I’ve attached a copy of the Spring 2007 Joint Board Announcement. There is a short blurb on page 3 and page 21 about the changes:

Spring 2007 Joint Board Announcement
“The syllabus, suggested readings and general conditions below are representative of those for past examinations, but will be revised substantially to reflect changes under PPA 2006.”


Who is Rick G?

June 13th, 2007

“Rick G” is Rick Groszkiewicz. It is pronounced grosh-kev-yitch. This is a Polish name, which is why my company name is Software Polish.

I have been teaching the enrollment exam seminars since 1983(!) I am a Fellow of the Society of Actuaries, an Enrolled Actuary, a member of the American Society of Pension Actuaries, and a member of the College of Pension Actuaries.

I’ve worked in software development since 1983, on defined benefit pension plans. Current software development is done primarily with Visual Basic version 6.0. I do very small consulting projects for actuarial firms.

My main business activity is teaching the EA seminars. I teach EA-1 and EA-2B seminars in the spring. I will do an online seminar for EA-2B in 2008.


First Videos Have Been Posted

June 11th, 2007

Rick’s first videos (an introductory overview of the exam) have been posted. They are available as free samples. Go here to view them.

New Lessons