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Federal government seeks input on solvency reserve accounts for federally regulated DB plans

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October 28, 2024

The federal government released draft regulations regarding solvency reserve accounts (SRAs) for federally regulated defined benefit (DB) pension plans and solvency funding requirements for federally regulated multi-employer pension plans (MEPPs).

  • The draft regulations provide the framework for federally regulated DB plans, other than negotiated contribution plans, to establish an SRA. The draft regulations set the requirements for the establishment of an SRA, limits on payments into an SRA, limits on withdrawals from an SRA, and reporting requirements to plan members.
  • The draft regulations reduce the solvency funding requirement from 100% to 85% for federally regulated DB MEPPs that are not negotiated contribution plans.

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