Final Standards – Amendments to Section 3500 of the Practice-Specific Standards for Pension Plans – Pension Commuted Values (July 2020)

This revision to the standards will take effect at the same date as the previously announced changes to Section 3500, namely December 1, 2020. The ASB is not currently envisioning a further change to this effective date. As was previously announced, early adoption of these revisions is permitted for TPAs that fall under the new Subsection 3570, as long as all revisions are adopted at the same time for a particular pension plan.