Posted:
October 17, 2018
The defined benefit AMO Pension Plan is now funded at more than 80%, which means the Plan is now in the "green zone" as defined in the federal Pension Protection Act of 2006. The Plan's actuary noted this funding level at the end of the Plan's fiscal year on September 30, 2018.
Meanwhile, the AMO Pension Plan's independent certified public accounting firm is auditing the Plan's fiscal year results to determine the AMO Pension Plan's specific "green zone" funding level, which the actuary will then certify to the appropriate federal agencies. These steps - required by law - will be completed on or before the end of the current calendar year on December 31.
The state of the AMO Pension Plan since December 2009 has been an extremely difficult, frustrating circumstance for vested participants and for their families, with several setbacks along the way through the Pension Protection Act's "red zone" and "yellow zone," but the Plan is approaching the point where all practical, legal options to end this crisis can be considered fairly and completely.
The AMO Pension Plan will keep you informed as "green zone" certification proceeds.
AMO Plans: Defined benefit AMO Pension Plan in "green zone" at close of fiscal year September 30, 2018
The defined benefit AMO Pension Plan is now funded at more than 80%, which means the Plan is now in the "green zone" as defined in the federal Pension Protection Act of 2006. The Plan's actuary noted this funding level at the end of the Plan's fiscal year on September 30, 2018.
Meanwhile, the AMO Pension Plan's independent certified public accounting firm is auditing the Plan's fiscal year results to determine the AMO Pension Plan's specific "green zone" funding level, which the actuary will then certify to the appropriate federal agencies. These steps - required by law - will be completed on or before the end of the current calendar year on December 31.
The state of the AMO Pension Plan since December 2009 has been an extremely difficult, frustrating circumstance for vested participants and for their families, with several setbacks along the way through the Pension Protection Act's "red zone" and "yellow zone," but the Plan is approaching the point where all practical, legal options to end this crisis can be considered fairly and completely.
The AMO Pension Plan will keep you informed as "green zone" certification proceeds.