Pensions


The Pension Benefit Guaranty Corp. (PBGC) proposed a statement of policy that would revise the structure of penalties assessed against pension plan administrators who fail to notify participants of underfunding and of the extent to which the PBGC would compensate for such deficiencies ( www.pbgc.gov/regs ). Under the suggested statement, penalties would be based on the number of plan participants rather than on the number of days delinquent, as currently required. The recommended policy also would provide for a more rigorous audit program, coupled with stricter enforcement and significantly higher penalties for repeated noncompliance. Comments are due July 6.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.