You are unlikely to hear that word on any of the recordings from the last 40 years of Enrolled Actuaries meetings but, now that recording has been prohibited, it appears and, in the context in which it was used, appropriately.
The Internal Revenue Service (IRS) has had budget cuts, in part due to a scandal over targeting right-wing groups, and following some personnel changes they are no longer answering questions from actuaries who they partnered with before. We have no more:
- Gray books where questions are posed on rule interpretations and IRS answers them
- Employee Benefits Committee
- Responses to emails
- Responses to phone calls
At one session there was some venting. These quotes are from my notes with no names attached. It does not much matter since the sentiments expressed seem to be prevalent. Besides, for those outside this little clique the names wouldn’t mean anything and the rest of you can probably guess.
Maybe if IRS had done their job they wouldn’t have had their funding cut.
Talking to the guy in Cincinnati is like talking to a wall.
People at IRS now are paper pushers. The replacements for Andy and Monika have no subject matter knowledge.
There used to be a partnership between the actuarial community and the IRS working as a team to provide a secure retirement for American workers. The IRS has dropped the team concept.
You (referring to the audience at the session) are here. You want to do it right, not like the slimeballs who are not here (probably referring to those who set up abusive pension plans without following the rules for setting up abusive pension plans). The IRS should be talking to us.
A trigger for this anger are proposed regulations on nondiscrimination testing that will require changes in many plan setups (no more rate group classification by name) and which might come up again at this meeting – perhaps providing another novel blog title.