President Signs Pension Funding Equity Act

The President on April 10, 2004, signed the Pension Funding Equity Act of 2004, P.L. 108-218 . The legislation is designed to provide a temporary replacement for pension liability calculation based on 30-year Treasury bonds. Pension providers would be able, through 2005, to calculate liability based on average corporate bond rates. The agreement also includes some pension funding relief for the airline and steel industries and certain multiemployer plans. With enactment, companies will be able to assume a higher interest rate in their pension accrual calculations, saving them millions of dollars in pension funding obligations. April 15, 2004 had been the next key date for determining those pension funding obligations.

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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