News Story

SC Reviews Final Specified Plan Change Proposals

May 26, 2011

Much of the SC meeting of May 26 was devoted to consideration of the current Specified Plan Change (SPC) proposals tabled by Members in April. Of the seven proposals, three are related to RCA funding, two are proposals to allow employers to provide NRA 60 benefits, and two relate to contribution rates. The Members reviewed additional technical analyses on the proposals, received third-party/stakeholder communications and opinions, and discussed a number of options and possibilities. Two proposals were voted on, and though neither received the requisite two-thirds majority for approval, one of them has been moved to mediation/arbitration. Additional technical analyses and information will become available to the Members before the scheduled meeting in late June, at which time all remaining proposals must be either voted on or withdrawn.