PRC In the News

Audit Finds Errors in Calculating Pensions in Bankruptcies
The federal agency that takes over failing pension plans in corporate bankruptcies has made errors in calculating benefits, according to an audit released Wednesday, raising the possibility that some retirees have been getting too much or too little.

Money Managers Scramble to Provide Lifetime Income Solutions
Turning working folks into professional investors has been a challenge for the asset management industry in the U.S. for nearly three decades. Trillions of dollars and 23 million defined contribution investors later, progress has clearly been made. Now comes the next challenge: decumulation.

New IRS Procedures for Church Plan Rulings
On September 26, 2011, the Internal Revenue Service (IRS) issued Rev. Proc. 2011-44, the principal purpose of which is to add a requirement that when a church plan sponsor applies for a private letter ruling on whether the plan is a church plan under Internal Revenue Code (IRC) §414(e), the applicant must notify participants and […]