The American Academy of Actuaries has provided suggestions to the ERISA Advisory Council of the Employee Benefits Security Administration on improvements it feels would be beneficial to the Annual Funding Notice for Defined Benefit Plans (AFN).
The notices are sent each year to defined benefit plan participants, any representative unions and to the Pension Benefit Guaranty Corporation — that last one either upon the PBGC's request or if the plan is poorly funded.
The notices are intended to provide those interested parties with information on how well the plan is funded, as well as the value of the plan's assets and liabilities and how those assets are invested.
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