§ 1308. Annual report by the corporation

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 title IV § 4008 · 88 Stat. 829

   Enacted · 29 U.S.C. § 1308

   Pub. L. 93–406, title IV, § 4008, Sept. 2, 1974, 88 Stat. 1014

   Source evidence

   Code source credit
   Pub. L. 93–406, title IV, § 4008, Sept. 2, 1974, 88 Stat. 1014

   Enacted provision · exact public law section
   Sec. 4008. report by the corporation As soon as practicable after the close of each fiscal year 29 USC 1308. the corporation shall transmit to the President and the Congress a report relative to the conduct of its business under this title for that fiscal year. The report shall include financial statements setting forth the finances of the corporation at the end of such fiscal year and the result of its operations (including the source and application of its funds) for the fiscal year and shall include an actuarial evaluation of the expected operations and status of the funds established under section 4005 for the next five years (including a detailed statement of the actuarial assumptions and methods used in making such evaluation).

2. 2006

   Pub. L. 109–280 title IV § 412 · 120 Stat. 780

   1. Amended · 29 U.S.C. § 1308

      Pub. L. 109–280 designated existing provisions as subsec. (a)

   2. Added · 29 U.S.C. § 1308

      Pub. L. 109–280 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 109–280 designated existing provisions as subsec. (a) and added subsec. (b).

   Enacted provision · exact public law section
   SEC. 412. INCLUSION OF INFORMATION IN THE PBGC ANNUAL REPORT.   Section 4008 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1308) is amended by— (1) striking “As soon as practicable” and inserting “(a) As soon as practicable”; and (2) adding at the end the following: “(b) The report under subsection (a) shall include— “(1) a summary of the Pension Insurance Modeling System microsimulation model, including the specific simulation parameters, specific initial values, temporal parameters, and policy parameters used to calculate the financial statements for the corporation; “(2) a comparison of— “(A) the average return on investments earned with respect to assets invested by the corporation for the year to which the report relates; and “(B) an amount equal to 60 percent of the average return on investment for such year in the Standard & Poor’s 500 Index, plus 40 percent of the average return on investment for such year in the Lehman Aggregate Bond Index (or in a similar fixed income index); and “(3) a statement regarding the deficit or surplus for such year that the corporation would have had if the corporation had earned the return described in paragraph (2)(B) with respect to assets invested by the corporation.” .

3 of 3 references resolved to an enrolled provision